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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32 Comments
Gold is trying to defend $4,000 while silver shows relative strength. Which setup looks stronger to you right now, gold’s potential floor or silver’s rebound above the 200-day moving average?
テクニカルで最高値を予想出来たのか、よがり予想
Who crashed the silver Market, is everyone stupid? This isn't possible unless big players coordinated together.
He didn’t think gold will go lower than 4400.
Head and shoulders bottom forming
Bull shell 🐚 😅.
3 days later Gold is up considerably ..
Thanks for asking him the question at the end
Can’t trust these pundits and gurus anymore
Does he understand question about silve? He does not seem to want to answer.
All i know is that no matter how far it falls , it’s going to return to its former high and continue … nothing has changed … all the conditions that caused its rise … still remains. Only the narrative and doubt has changed…
Since you cant read a chart… the floor is at 3500 to 3600
You didn't see consolidation,You saw fraud and manipulation.
I thought it was going to $10k😂😂😂
❤❤🎉🎉😮
Yea. Yea. ..
4000 breaks, gold is going to 3600-3500
Love Gary!
I think we need to see the 200 day average going horizontal for a short while before it starts to go further upwards and could likely find its way back into the bullish trend later sometime this year
Gold has rallied from around 1,800 to over 5,000 since 2023. Given the magnitude of the run-up, a correction of 30–50% would not be unexpected.
Silver is going back to $30
Looks like a liquidating drop for the IPO buy. Now those buyers can't sell for 30days! So there may be a delay on gold till then. But serious money wouldn't be thrown at the debt chasing IPO
Translation: buy gold😂
It’s all manipulated on the forex. Lies
My suggestion is 3800
The demand for usd is skyrocketing. Central banks will be forced to sell, especially those not holding tbonds.
Lower timeframe bs. Get the 3M chart out
Everyone has their beer goggles on crying manipulation- metals are bearish
FTA!
Nice information sir
Lets accelerate to the next lower high on the upside down low. 😛
M.rGary Amazing Boss