With gold pulling back to test its 200-day moving average and silver flashing oversold momentum, technicians are mapping the structural damage to the precious metals complex. Gary Wagner, editor of The Gold Forecast, joins Kitco News to break down the final C-wave correction in gold and the 78% Fibonacci retracement level holding silver.
Wagner outlines how the ongoing macro shocks—including Brent crude surging past $108 a barrel and Turkey’s central bank liquidating 60 tons of gold for liquidity —are fundamentally driving the charts. He also details what needs to happen geopolitically for gold and silver to decouple from rising bond yields and catch a safety bid.
Recorded March 26 2026
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Chapters:
01:24 ABC Correction Breakdown
02:53 Key Support Levels
04:43 Oil and Fed Pressure
07:20 Crude Chart Resistance
09:40 Silver Technical Damage
11:46 Central Banks as Liquidity
13:18 What to Watch Next
17:10 Wrap Up and Viewer Call
#Gold #Silver #GaryWagner #KitcoNews #GoldPrice #Commodities #TechnicalAnalysis #Investing #Finance #MacroEconomics #Inflation #CrudeOil #FederalReserve #Trading #Charts
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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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43 Comments
Gary mapped out the technical damage, but we want to hear from you: Are you stepping in to buy this pullback, or staying on the sidelines until the dollar and yields cool off? Drop your thoughts below. 👇
just trying to dollar cost average
I still do not grasp the wash out crap. If you have to wash out traders 15x to go up it is not a wash out. Something else is happening that is more significant.
Thanks, from a week ago
5 days on…..
Inflation at 4% oh please. Inflation
is at least 15 % when I pay my bills . The case for diversification .
Donny will cut and run . Take it to the bank .
There is no predicting. Paper will continue to manipulate physical gold prices. Trump will continue his chaos to enrich himself and family. Hold your gold, trump will be gone soon. The insanity will pass.
I love a good sale . Walked in PM
Dealer no line ups . I wish I had a wheel barrel .
Another Donny dividend . Those countries with no petroleum resources are sitting ducks .
I see this pullback has caused Gary to need to take a vacation from himself.🥸
Buy gold and silver for long term don't know when it surprise going to touch sky.
It’s not the conflict between the US and Iran… it is the 40 years old conflict between ISRAEL and Iran!
I used to watch Kitco news and following Gary Wagner. I haven’t done it for many years. It is so nice to listen to him again. Phenomenal knowledge. Thank you so much to put that on YT. Very grateful.
Even if the spot price were to slip a little I am looking at the long term and it has only one direction (setting aside minor ebbs and flows) and that is UP!
You know you don't have to deploy all the dry powder you've considered aloting to gold on any dips or corrections right away. Go 25 25 25 25 % over the next weeks or months until a more compelling rebound emerges. Keep in consideration when the next quarter ends, and the Private Equity firms have to 'report' again.
Why aren't you mentioning that Turkey was forced to sell $58 Billion dollars of Gold because of the increase price on oil because of the war. Other Countries who have been buying gold are being forced to do it as well.
The other options besides peace are the breakeven rates finally rejecting the Fed’s narrative of low inflation expectations by either continued inflation to the point it becomes obvious the inflation is not temporary and the Fed cannot control it or the Fed blinks and looks to cut rates due to low job or sales data
Agree with Gary though, peace is the quickest/cleanest option
I’m still up on the year in mining stocks by like 50% and up by multiples on the metals. This is just a blessing to buy more.
If the host and his guest knew there are no negotiations in the Iran / U.S. war. They would be saying Gold and Silver prices will keep dropping and oil will keep rising.
Timestamps?
Thanks guys. Been trading Gold/Silver since Oct 2023. Bought back in on 50 day retrace. Debating whether I will close positions before next drop down, which appears likely, and then buy in when it does. Will monitor over the next couple of days. If I stay the course I will likely hold current positions until bounce back occurs – as it will. I agree that as soon as the conflict is over there will be a big initial pop. But the economic damage is done. The whole world runs on oil. Supply will take at least 3 months to restore, and damage to production facilities especially gas is going much longer. I suspect a wild ride until mid year.
see it touching $3800 and $50, likely see some sideways action for couple days, but do not seeing it last long. these metals have been immune to inflation, and this is simply a corrective time. 8-10yr think we'll see simply science fiction level prices on these metals. not concerned at all.
Gold failed the test. It's a piggy bank for margin squeezes, nothing more. This is not a hedge
Perhaps cash strapped countries are selling gold reserves ( perhaps countries that have their oil production interrupted).
Well, one thing is sure. Money is losing the purchasing power. Still add position Of gold in dca basis. Thanks the host and guess.
Gary u look unwell, hope you are well, take care❤
Fear Not. Hold the line…
i m from Turkish Republic. TR is selling Gold because he needs money (this is not a strategic financial act) we have a War at our neighbor😢
This inflation is a minor issue because it is caused due to high oil price. However, the major worry is a recession, probably this year itself. Already many firms have upgraded this recession probability risk recently. Now, that means there is only one safe haven and it has to be Gold.
Why are countries and big corporations buying gold and silver if prices will keep on going down?
For me gold is a long term investment buy a little every time it goes down(i buy physical);the way i see it shit is about to go down the next 5 years inflation is killing us slowly;wages not budging; wars;the instability in the middle east will cost the world years of growth all thanks to the boys aka the US& the so called chosen people
❤❤❤❤❤❤❤
To sum up, when/if the war ends gold price will recover.
Physics views waves as energy moving through a medium. Even if you take investors, or their money, as the medium you still cannot describe the 'wave'. A full wavelength typically denotes a motion in one direction and then the opposite. C-wave is a ridiculous notion.
Don't over think it folks. The USA controls (for the most part) the price of gold with COMEX.
The war in Iran started Saturday, February, 28th and gold corrected on Monday, March 2nd. Was it overdue, yes most certainly. Both were.
But money ran to liquidity first so sell to get dollars and buy oil. More pessimistic investors anticipating a long drawn out war went to bonds to benefit from higher interest rates, bond yields and stronger dollar. This will slow the recovery but make no mistake…
The world is not a happy place and gold has been on a tear because of this. Yes, central banks, yes repatriation but… Not a happy place and not getting more joyful anytime soon. Stay long on gold.
Not buying or selling I have enough for now. If it gets even cheaper I will start buying again. Selling is only going to occur at life changing or strategic levels… otherwise I stack
Hes speaking while looking at a man holding a sign that says: "talk slow and sound smart, if you lose track then speak gibberish and change the subject."
Thanks Gary for telling us everything we already know
this clown said that 100$ silver is the new floor in januarly lol
We'll see Monday if Fridays up move is confirmed….
Turkey dumped a ton of gold pn the market!!!!
No this is the end of the American economic system. The whole world is lost faith in America, and the American dollar.
these guys are rear view mirror experts –
I think a lot of speculators will have sold gold to buy oil.