Scary Gold Price Drop? Gary Wagner Drops BOMBSHELL Predictions for Gold & Silver Prices

Описание: Scary Gold Price Drop? Gary Wagner Drops BOMBSHELL Predictions for Gold & Silver Prices

Gold surged 33% since December, briefly pierced 3,500 dollars, and is now consolidating above 3,300 dollars. However, veteran analyst Gary Wagner says this isn't a typical rally, calling it "more than significant," with technical signals that point to persistent underlying strength.
The precious metals market experienced a notable reversal this week as gold prices retreated from recent highs, driven by the same geopolitical forces that had previously fueled the metal's ascent. From a technical perspective, gold's recent performance reveals concerning patterns for bulls. The current decline marks the third consecutive lower high since the metal reached an intraday peak above 3,500 dollars on April 22. This pattern of diminishing rallies suggests that gold may no longer derive the same benefit from trade uncertainty that it enjoyed during the height of tensions in April.
The series of lower highs indicates potential weakness in the underlying bullish momentum that had driven gold to record levels earlier this year. If this pattern continues, it could signal a more significant shift in market dynamics rather than merely a temporary correction. Despite recent weakness, major financial institutions maintain constructive views on gold's medium-term prospects. Citigroup recently upgraded its near-term forecast, projecting gold prices between 3,100 dollars and 3,500 dollars within the next three months. This represents an increase from the bank's previous range of 3,000 dollars to 3,300 dollars an ounce, though notably, this revision preceded the latest diplomatic developments that have pressured prices.
The dollar remains under pressure as fiscal concerns, Fed uncertainty, and geopolitical risk converge. Unless Washington delivers credible deficit reduction and trade clarity, the dollar’s technical weakness may extend. Rising tariffs could simultaneously pressure prices and weaken growth, posing a stagflation risk that would constrain the Fed's flexibility despite the current 4.25%-4.50% Fed funds target range. Since January 2025, the dollar has declined from 109 to 98, representing a significant 10% drop.
Wagner believes that this steep decline in the dollar has been a significant reason why gold prices have increased recently. When asked whether gold is starting to move independently of the U.S. dollar (also known as "decoupling" from the DXY), Wagner said that gold can't fully break away from the dollar because it's priced in dollars.

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