Where’s Gold Headed As 11th Hour Looms? – “Chart This!” on Kitco News

Kitco News speaks with Gary Wagner about last week’s gold prices and what movements he expects to see this coming week. The marketplace is waiting for the October 17th deadline to see whether or not the US Government will default on its debt. Will the debt ceiling deadline be extended? Wagner also touches upon the recent announcement that Janet Yellen will be replacing Ben Bernanke as Federal Reserve Chairman, the first woman to ever hold the position. “The fact that Yellen was nominated is bullish for gold in the sense she is considered one of the more dovish members of the board,” Wagner says. “However, the day the nomination came out, gold was lower but over two thirds of that was directly attributed to dollar strength.” Tune in now to hear Wagner’s key support and resistance levels for the gold market.

Categories: Business

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