Video News/Chart This with Gary Wagner

Gary Wagner, Editor of TheGoldForecast.com, says silver experienced a sharp “liquidation event” that tested key technical support near $71. Speaking with Kitco News anchor Jeremy Szafron, Wagner analyzed the double-digit decline in spot silver and described the $71 level as a “line in the sand” for maintaining the broader bull trend. He reviewed the technical damage from the sell-off, including bearish candle formations and elevated volatility. Wagner contrasted silver’s move with gold’s relative resilience, noting a widening divergence between the two metals. He described silver as “a candle that burns twice as bright but burns half as long,” while gold held key levels during the session. Despite the volatility, Wagner maintained a bullish longer-term outlook and updated his year-end gold price target to a potential $6,000. He also discussed the role of the U.S. dollar, pointing to weakness in the DXY as a supportive factor for precious metals going forward.