In this crucial market update, Technical Analyst Gary Wagner of The Gold Forecast confirms we are in a “true silver squeeze” as the physical market goes into backwardation, an event he says suggests demand is “far exceeding physical stock”. He gives his new, must-see price forecasts for both gold and silver, with targets of $4,300 for gold and $55 to $58 for silver.
In a detailed analysis with Kitco News’ Jeremy Szafron, Gary Wagner also explains the powerful, ongoing trend of central bank buying that is tightening the global supply because sovereign nations “accumulate hold. They don’t sell”. He also shares a shocking story about physical gold demand at major retailers like Costco, where it sells out in days. Finally, he reveals the key support level that must hold to avoid “technical chart damage” to the rally.
Recorded October 14, 2025.
Follow Jeremy Szafron on X: @JeremySzafron (
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00:00 – Introduction: Market Divergence
01:27 – Silver’s Historic $50 Breakthrough
01:48 – Backwardation & The “True Silver Squeeze”
03:15 – Gary Wagner’s NEW Silver Forecast
04:34 – Gold’s Parabolic Move
07:52 – Speculative Money & The “Costco Gold” Effect
09:30 – Gary Wagner’s NEW Gold Forecast
11:30 – Central Banks: The “Stealth” Gold Buyers
15:27 – The US Dollar’s Impact on Metals
17:45 – Risk Management: Is It Too Late To Buy?
21:50 – The Key Level to Watch in a Correction
#Gold #SilverSqueeze #KitcoNews
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22 Comments
First you can use traditional methods to forecast the market. Never have we had realestate overpriced, tariffs like these, and the obvious scare for the decline of the dollar. This is why metals are up. Remember the Black Scholes theory they made millions until the universal set of variables change. The fundamentals not changing is wrong, its highly likely these guys just don't want to start a panic. I mean how old is this video because gold was over 4300 today!
Gold getting close to 4400 and silver looking to hit 55 any moment.
Come on, anyone with any sense could see the silver market has been held back for years. Paper contracts, good luck getting your silver!
Gary speaks very clearly & understands his field enough to speak simply. His insights are much appreciated. Sorry if name icon comes up 2x. Computer glitch..
$4,300 gold "by the end of this year?!?" PLEASE…🙄
short term….its well OVER 4300 NOW
"Comex"?….more like CRIMEX
Seen too many rug pulls over 40 years
They said XRP to 25 cents
Then 100$
I wait
Bear market is now officially started
Gold gonna get hammered tomorrow
Liar no correction
Gold correcting prices my ass lol
Dude: "I envision $4,300 unti lthe end of the year"
meanwhile 24 hours later…
However, everyone has a vested interest in gold, and for the long term, while no one wants bonds, and everyone is wondering how to get rid of them?
A higher price than in the contracts means that everyone will want real metal, which is not available…
Watching a day later. Already $4300. The Metal Wars have begun.
Why would you sell your gold and silver for the ever falling dollars ?? throw all your analizing out of the window, this is a different world
$4,300 gold happened today…. one day after this recording.
Yeah, maybe a correction from 5000 to 4950
lol how old is this video
Next stop is 350. Then 650 then 1k… probably 1k plus by end of 2029… 100 by end of this year… 2027 end of year 300. End of year 2028 600…. 2029 well over 1k by end of year….. then another 5 years of a bull run thru 2035… silver tops out at around 5,000 a ounce for silver, if the currency exists then… if the currency collapsed several millon a ounce😅😅😅
Digital gold is down another 3%.
Strange. 😂
Gold inflates at 2%. That means it has a half-life of 35 years. Bitcoin has a half-life of infinity.