In this crucial market update, Technical Analyst Gary Wagner of The Gold Forecast confirms we are in a “true silver squeeze” as the physical market goes into backwardation, an event he says suggests demand is “far exceeding physical stock”. He gives his new, must-see price forecasts for both gold and silver, with targets of $4,300 for gold and $55 to $58 for silver.
In a detailed analysis with Kitco News’ Jeremy Szafron, Gary Wagner also explains the powerful, ongoing trend of central bank buying that is tightening the global supply because sovereign nations “accumulate hold. They don’t sell”. He also shares a shocking story about physical gold demand at major retailers like Costco, where it sells out in days. Finally, he reveals the key support level that must hold to avoid “technical chart damage” to the rally.
00:00 – Introduction: Market Divergence
01:27 – Silver’s Historic $50 Breakthrough
01:48 – Backwardation & The “True Silver Squeeze”
03:15 – Gary Wagner’s NEW Silver Forecast
04:34 – Gold’s Parabolic Move
07:52 – Speculative Money & The “Costco Gold” Effect
09:30 – Gary Wagner’s NEW Gold Forecast
11:30 – Central Banks: The “Stealth” Gold Buyers
15:27 – The US Dollar’s Impact on Metals
17:45 – Risk Management: Is It Too Late To Buy?
21:50 – The Key Level to Watch in a Correction
Credit to : Kitco NEWS