‘Most Bullish In Time In History’: Gold’s Breakout By Year-End Will Be Huge | Gary Wagner

Summary

Gary Wagner, editor of TheGoldForecast.com, reviews gold, silver, the U.S. dollar, and Fed policy with David Lin. Wagner sees gold in a multi-month symmetrical-triangle consolidation and expects an upside breakout, targeting above $3,700 and potentially $3,700-$3,800 by year-end or Q1 2026. He also expects a September Fed rate cut, sees tariff/trade uncertainty and dollar weakness supporting gold, and identifies downside levels if gold breaks below about $3,350. Silver is discussed as a catch-up trade but less favored than gold.

• Gary Wagner says gold is consolidating in a symmetrical triangle after all-time highs.
• He favors an upside breakout with first target $3,472 and higher targets above $3,700/$3,725.
• He expects the Fed to cut rates by 25 basis points in September, with the number of additional cuts uncertain.
• Tariff uncertainty and potential inflation/stagflation risk are supportive for gold.
• He says the U.S. dollar has been in a virtual freefall and is not the safe-haven trade.
• Silver has broken above $33 and is around $38, but Wagner remains more bullish on gold.
• A hard break below $3,350 support would signal a new bear market, with next levels near $3,200 and $3,000-$3,100.