Key Level For Gold Ahead Of GDP: $1,238 – Gary Wagner
from Kitco News Gary Wagner is on Kitco News ahead of Friday’s U.S. GDP data. Before getting his growth projections, Daniela Cambone asks Gary what he thought of gold’s reaction to Wednesday’s FOMC statement. He says the Fed gave off a very bullish sentiment on the economy and he was happy to see a move back up on Thursday’s trading activity. For GDP, he expects growth numbers to come in according to analysts forecasts of 3-3.6%. “My sentiment is that as long as GDP numbers come in close to the estimates then we should see a lot of that already factored into the market,” he adds. Now that gold has breached Gary’s key level of $1,265 he is now eyeing the $1,238 an ounce level. Tune in now to hear his key levels for the gold market and how he sees the metal set up for next week.