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Gold Gets A Jackson Hole Bounce, Now There’s Talk of $1,350
Gold prices spiked Friday as all eyes were on Fed chair Janet Yellen and European Central Bank president Mario Draghi’s speeches at this year’s Jackson Hole symposium in Wyoming. The metal traded in the green, last at $1,295.90 an ounce. However, one gold expert is still waiting for the metal to close above key resistance before he becomes ultra-bullish. ‘I’d feel more comfortably bullish when we have effective closes above 1300,’ Gary Wagner, editor of thegoldforecast.com, told Kitco News during Draghi’s remarks. ‘We’ve certainly tested the waters, now we simply need to see the market have the momentum to close above that. Once that happens, I absolutely believe we’re headed substantially higher.’ Commenting on the central bankers’ meeting, Wagner said he didn’t make much of Yellen’s remarks, noting that she ‘did not want to rock the boat.’ (show less)
Gold prices spiked Friday as all eyes were on Fed chair Janet Yellen and European Central Bank president Mario Draghi’s speeches at this year’s Jackson Hole symposium in Wyoming. The metal traded in the green, last at $1,295.90 an ounce. However, one gold expert is still waiting for the metal to close above key resistance before he becomes ultra-bullish. ‘I’d feel more comfortably bullish when we have effective closes above 1300,’ Gary Wagner, editor of ... (read more)
Chart This!
A former city guy, Gary Wagner abandoned the briefcase & tie and joins us weekly from his home in Hawaii. Whether you are a newbie or veteran trader, Gary provides an educational segment for all levels of investors. Gary will teach you the ‘ins’ and ‘outs’ of mapping gold charts from using Japanese Heikin-Ashi charts to Elliott Wave analysis. Gary Wagner simplifies charting for investors every Friday on Chart This!Disclaimer: The content on this website, including, without limitation, news, videos, interviews and commentaries, is provided by Kitco Metals Inc. ("Kitco") for informational purposes only and is not intended as any form of advice, whether legal, accounting, investment, financial or tax advice. Therefore, it cannot be relied upon as such. Should you require such advice, contact a licensed professional. The content provided herein is provided on an "as is" basis without any warranty of any kind, whether express or implied and your use of the information provided in said content is entirely at your own risk. In no event will Kitco be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content on this website.
