Gold Breached $1,200; What Do The Charts Say?

[youtube YdVXuhUMfo0]

Gary Wagner shares his thoughts on gold’s recent price action on this edition of “Chart This!” Wagner says he sees the $1,200 level now becoming support for the gold market if a little rally comes into play. “We saw a real hefty bounce today,” he says. “The $1,180 [level] still holds [as well].” Looking over at silver, Wagner says he sees a ‘disconnect’ in the market because the economy seems to be picking up and yet the industrial metals are struggling to hold gains. “I really see a basic disconnect between the industrial precious metals and what we’ve seen in the equities markets.” Tune in now to see what levels he is looking at for gold this week. Kitco News, October 6, 2014.

Don’t forget to sign up for Kitco News’ Weekly Roundup – comes out every Friday to recap the hottest stories & videos of the week: www.kitco.com/newsletter

Join the conversation @ The Kitco Forums and be part of the premier online community for precious metals investors: http://kitcomm.com — Or join the conversation on social media: @KitcoNewsNOW on Twitter: http://twitter.com/kitconews — Kitco News on Facebook: http://facebook.com/kitconews — Kitco News on Google+: http://google.com/+kitco — Kitco News on StockTwits: http://stocktwits.com/kitconews

As well as the most accurate precious metal prices online, Kitco also provides up-to-the-minute news with usable market information. Videos provided by and © Kitco.