Bullish Signs For Gold, Yellen At The Helm: Chart This! – Kitco News

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Kitco News speaks with Gary Wagner about gold prices, India’s gold import tax and Wednesday’s FOMC meeting on this edition of “Chart This!” According to Wagner, gold’s rally last Thursday pushed the market above an important resistance line. “That, to me, on a technical basis, is extremely optimistic and extremely bullish in my opinion,” he adds. Looking at news coming out of India, Wagner says that if the government were to loosen the taxes on gold, it would be another bullish factor for the yellow metal seeing as India is one of the largest purchases of the metal. Finally, Wagner comments on Wednesday’s Fed meeting, where the new chairwoman Janet Yellen will take the helm. “You can never really tell what the Fed is going to do, especially this being Yellen’s first meeting where she is the ‘captain’ of the ship.” Tune in for a more in depth technical look into the gold markets with Gary Wagner. Kitco News, January 27, 2014.

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