Gold broke below key support as the June CPI report came in hotter than expected, sending the U.S. dollar surging and Treasury yields higher. Spot gold dropped $26 to around $3,330/oz, while silver pulled back to $38 after a 14-year high. With markets now betting the Fed will hold rates steady, is this just a technical pullback – or a trend reversal?
Gary Wagner, editor of TheGoldForecast.com, joins Jeremy Szafron to break down the gold and silver charts, explain how inflation and tariffs are impacting metals, and reveal the technical levels he’s watching next. Wagner says “99% of today’s gold move is due to dollar strength” and warns a break above the 50-day moving average in the dollar could trigger more downside for gold.
Key Topics:
-June CPI: 2.7% headline, 2.9% core
-Gold’s drop to $3,330—technical damage or dip-buying zone?
-Silver retreating from highs—healthy consolidation or reversal?
-DXY rally and its impact on metals
-Fed policy outlook post-CPI
-Audience Q&A: gold-silver ratios, dollar levels, sovereign risk
Follow Jeremy Szafron on X: @JeremySzafron (
Follow Kitco News on X: @KitcoNewsNOW (
Follow Gary Wagner on X: @goldforecast ( @Thegoldforecast
00:00 Introduction
01:07 Gold’s Technical Analysis
08:10 Dollar’s Impact on Gold
12:21 Silver Market Insights
15:02 Viewer Questions and Expert Advice
21:07 Conclusion
#Gold #Silver #GaryWagner #KitcoNews #Inflation #CPI #DollarIndex #FedPolicy #GoldPrice #TechnicalAnalysis #SilverPrice #PreciousMetals #InterestRates #GoldForecast #ChartThis
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38 Comments
Do you see this as a buying opportunity – or is more pain ahead?
Drop your gold and silver price targets for August below. Gary might respond.
The gold party is on the lawn!
Love Garys anslysis Hes the Golden Ninja
Silver ❤❤❤
3400
Gary live on location from a Chinese temple.
Gary should pay more attention to fundamental rather than sticking headlong through thick and thin to so-called technical since devils are at work now struggling with metals to lay traps for their multiple objectives we all know including Gary.
I've consulted the goat entrails and it indicated gold will go higher. Maybe not today, maybe not tomorrow, but it will go higher.
SILVER BALLS TO URANUS! 🎉
it was just a short squeeze. It went down sharply after. But it was spectacular…
it's all about the dollar
Gary is sharing with us all his knowledge…Ty Gary, you are a Masterpiece of human race…🤍
great content
This guy said it would go up, then he said it would go down, the whole time it’s been sideways.
Keep in mind that during Mercury Retrograde silver prices are often flat. Nothing wrong within hovering around the 37 to $38 dollar level. Around Aug 10th or so, I suspect that silver will touch $40 and yet another pullback will occur.
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0:17 💪🙌👏
I am watching the gold graphics in the platform of Kitco and it is getting more valuable.
The rise in price I am seeing is 0,69%.
That is not a fall.
my GOLD is doing just fine thank you very much..!!!….way better than the rest..!!!!!!!!!!!!..don't eat the yellow snow Gary..!!!..it's bad for you..!!!!!!!!
I'm contemplating investing some money in stocks for retirement. I need a need long-term investment with low-risk strategy and good returns
Gary the paradise bird 😂😂😂😂😂😂😂😂😂😂😂😂
Gary the bird is the best contra indicator
No memes needed. Just buy $XA17P and DCA/HODL. Retire very early.
as of the time of the debuting of this video, GOLD is now above….so we will see how it closes today
I suppose if they keep saying the dollar is strong they think we will believe it. 😂
Good Lord stop …. Gold is still well over 3300 and silver at 38 and above …
Silver to $80. By 2029?
so you really don't have a conviction?
Haha thanks for the shout out on my question Jeremy!
I might suggest "Ninja Scroll" for Mr. Wagner to view. A classic , although rather violent, anime…
and (spoiler) the bad guy meets his end, in part, by falling into molten gold!
Thanks Again. Go Kitco!
Gold is up
Gold is back above the 50 day today!
It reacted a bit to the tame inflation numbers but it's already bounced back. The US has no choice but to massivly devalue the dollar like in the 70's and that means we still have a LONG way to go for gold and silver. "gold is real money, everything else is just credit"
This all sounds like voodoo. Not to mention the price went up $47 after this video was released.
0:32
Schmuck blurb
Chance for silver shorts to close out positions before it's too late .
Rates are too low!!
gary or kitco if you read my comment why are the new state laws specifying that only American gold is money? Why do some want bullion reserves? Why would tokenizing gold ever be good? And why would anyone who stacks celebrate new gold CONTROL laws? Soft confiscation begins like these state laws. American gold? Tax Free and money. Non-American gold Taxed collectables, not money. Eventually the move is vault ur gold and get a token or its illegal. No off ramps to cbdc. This is how they start closing the off ramp. Tell me if I'm wrong?
As if the dollars going to make a comeback! 🤣💸💸💸