Gold and silver are entering a critical technical phase as volatility accelerates and market moves compress into shorter, more aggressive cycles. After rallying from roughly $4,000 to $5,600, gold corrected sharply to $4,100 and is now attempting to reclaim key resistance near $4,900. In this episode of Chart This, Gary Wagner, editor of The Gold Forecast, explains why $4,900 is the level to watch, noting that a breakout could open the path toward $5,100 and a potential retest of the highs. He also points to the recent pattern of a lower high and lower low as a sign that the market is still in transition.
Wagner also highlights what he calls a “compression of time” across commodities, where major price swings that once took years are now unfolding in weeks. From silver’s 162% rally and sharp retracement to crude oil’s rapid spikes tied to geopolitical events, he outlines how extreme volatility is reshaping trading conditions.
Recorded April 16, 2026.
00:18 – Gold rally and correction setup
01:12 – Support vs resistance explained
03:49 – Momentum indicators and overbought signals
05:37 – Key gold breakout level at $4,900
06:19 – Silver outperforming gold rally
08:01 – Silver targets $80, $90 and $96 resistance
10:39 – “Compression of time” in markets
11:50 – Crude oil spikes on geopolitical shocks
14:16 – Candlestick trading book recommendations
15:55 – Candlesticks vs Heikin Ashi explained
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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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49 Comments
Always love to hear from Gary
Really enjoyed this video. Your content deserves thumbnails that grab even more attention. If you ever want help with that, I’d love to work with you.
Gary, is that a prairie dog on your face? 😂
Three days later gold at 4700 lol
Good stuff!
Hello Gary! 👋
So glad that Kitco hired you Gary, and NOT Gareth Soloway! You have a lot of credibility. Gareth Soloway with Verified Investing uses fear to feed his short and swing trades. Gareth has no certifications, and only has a bachlors degree from a no-name college. Kitco, thank you for hiring Gary!
Fu Man Chu Samurai Gary!!!!
Gary! Gary! Gary! 😄
Top WHITE 🙌🏻☝🏽
This man lacks depth, he never mentioned water scracity or increases in global defense spending pressuring all metals
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