Kitco News ends the week with none other than Gary Wagner to see what he thinks of gold’s price action this past week. He says the strong U.S. dollar is the greatest factor impacting the gold market right now – even more than geopolitical tensions.
“I believe what we’re seeing [in gold] is a reaction to this very strong dollar,” he says. “What we tend to see with the geopolitical ‘hotspots’ is a knee-jerk reaction, whereas with the equities market and the dollar you’ve got a slow consistent move to the upside.”
Wagner also comments on some key levels he is eyeing in the gold market right now.
Watch video on kitco.com