Commodities
Golds New Base Signals Next Big Move as Rare Rally Pattern Emerges on Charts Gary Wagner
Date: 2025-04-30 20:51:19
Gold just posted a 33% gain since December and briefly broke above $3,500 an ounce, but now it’s pulling back toward the $3,300 level. According to veteran technical analyst Gary Wagner, this rally is “more than significant” and unlike anything he’s seen in recent decades.
In this interview, Gary Wagner, Editor of TheGoldForecast.com, joins Kitco News Anchor Jeremy Szafron to break down gold’s recent parabolic move, why $3,300 is acting as a strong support zone, and how traders are repeatedly buying dips near that level. Wagner explains how this rally compares to historical moves, why dollar weakness explains only part of the surge, and why this consolidation may be building strength for the next leg higher.
He also explores the breakdown in traditional correlations – including gold’s decoupling from Treasury yields – and the technical implications of repeated lower wicks, smaller daily candlestick bodies, and strong market absorption around $3,300.
Key topics:
– Why Wagner says this gold rally is “more than significant”
– $3,300 support and what it tells us about trader conviction
– How this 33% move compares to recent rallies since 2023
– Why only 10% of the gain is explained by dollar weakness
– What the chart’s lower wicks reveal about buyer strength
– Why a correction hasn’t arrived despite parabolic price action
– How tariffs and weak GDP numbers are creating macro tailwinds
– Whether gold is still on track for $3,600 or even higher
Follow Jeremy Szafron on X: @JeremySzafron (https://twitter.com/JeremySzafron)
Follow Kitco News on X: @KitcoNewsNOW (https://twitter.com/kitconewsnow)
Follow Gary Wagner on X: @garyswagner (https://twitter.com/garyswagner)
00:00 Introduction
00:55 Gold’s Recent Performance and Technical Analysis
01:33 Dollar’s Impact on Gold Prices
05:26 Gold Market Trends and Projections
08:51 Consolidation and Support Levels
13:03 Future Predictions and Market Sentiment
22:15 Special Offer and Conclusion
#Gold #GaryWagner #KitcoNews #TechnicalAnalysis #DollarIndex #GoldPrice #Tariffs #Inflation #Fibonacci #Trading #Commodities #MarketUpdate #SafeHaven #Macro
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