Gold Falling To $1,180 Wouldn’t Surprise This Trader

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It’s Friday, so Gary Wagner is back on Kitco News to tell viewers what the charts are telling him about the gold market post this week’s FOMC meeting. Wagner says Fed Chair Janet Yellen’s comments proved the U.S. economy is on track. “As such, Yellen has maintained some transparency in saying that she’s going to keep interest rates low.” Wagner adds that this will provide inexpensive money for investors, who are looking for higher returns and thus more attracted to equities. “I see current support in gold at $1,200,” he says. “It really wouldn’t surprise me if the market… went to $1,200 or $1,180, and bounced from there.” Tune in to this week’s in-depth analysis of the gold market and see Gary’s charts pairing gold in euro terms. For Chart This! fans, Gary Wagner will be holding a free online webinar on September 24; don’t miss it! Kitco News, September 19, 2014.

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