Monday, July 22, 2013

Gold Breaks Through $1,300 Level - Gary Wagner

Gold Breaks Through $1,300 Level - "Chart This!" with Gary Wagner



The gold forecaster Gary Wagner is on Kitco News to talk about gold's 4-week high and whether the $1,300 breakout signals a rally on this edition of "Chart This!" Wagner says the "market is having a series of higher lows" and this may be a good signal for the bulls. "Gold has fallen out of favor in regards to being a safe-haven asset and so it doesn't seem to react as much to world turmoil as we have seen in the past," he added. Wagner also discusses Bernanke and whether or not the Fed will taper. He ends by looking at the defined range gold is trading in and looks at it in terms of Fibonacci levels. Kitco news, July 22, 2013

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Key for Gold to Hold $1324 ~ Peter Hug of Kitco

Key for Gold to Hold $1324 - "For Pete's Sake" w/Peter Hug of Kitco.com



 Kitco Metals' Peter Hug talks about gold's 4-week high, the US dollar and Asian markets on this edition of "For Pete's Sake."According to Hug, the $1,300 break on the upside may be a buy signal. "When you see resistance levels and difficulty getting through those resistance levels, which we saw last week at $1,300, the trade is a short. Vice versa, when it breaks up through resistance levels, the trade is a long," he added. However, despite the break through $1,300, Hug does say he is not seeing the momentum just yet. However, the continuous monetary stimulation coming out of the US, Europe, Japan and China coupled with physical demand in Asia and ETF outflows slowing down are indications that it may be a good buy, Hug added. Tune in now to hear his take on gold and silver prices. Kitco News, July 22, 2013.
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