Gold futures tested the key $4,000 psychological level this week under intense selling pressure before catching a late Friday bid. Gary Wagner joins Jeremy Szafron, Senior Anchor of Kitco News, to break down the technical damage and explain why he sees a “60% to 70% probability” that gold has established a firm technical floor.
Wagner outlines the critical resistance levels gold must break to save its broader bullish trend, noting that a return to record highs will be a “hard climb back up.” The analysis also covers silver’s resilience as it reclaims its 200-day moving average, outperforming gold during the recent drawdown. Plus, Wagner weighs in on how macro liquidity shifts – including the $75 billion SpaceX IPO and reports of a possible interim U.S.-Iran agreement around the Strait of Hormuz – are impacting the charts, and what the CME’s upcoming move to 24/7 trading for retail gold contracts means for technical weekend gaps.
Recorded June 12 2026
Follow Jeremy Szafron on X: @JeremySzafron (
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Follow Gary Wagner on X: @goldforecast (
CHAPTERS
00:00 – Gold Tests $4,000 & Market Macro Shifts
01:45 – The $4,000 Technical Floor & Support Levels
06:40 – $6,000 Elliott Wave Target & Resistance at $4,370
09:50 – Inflation Data & Fed Rate Hike Probabilities
11:50 – Silver Outperforms & Reclaims 200-Day Moving Average
21:20 – CME 24/7 Gold Futures Trading Impact
25:00 – Gary Wagner’s Technical Roadmap for Next Week
#Gold #Silver #GaryWagner #KitcoNews #Investing #TechnicalAnalysis #Commodities
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The videos are not intended to provide trading advice, and the views expressed do not necessarily reflect those of Kitco Metals Inc. Kitco News, its anchors, producers, and reporters are not responsible in any way for the performance or actions of any sponsor, advertiser or affiliate of Kitco News. In no event will Kitco and its employees be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content in this video.
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