Stock Market Pullback Could Signal Safe-Haven Gold Buying – Gary Wagner | Kitco News
Gold prices remain under pressure, but it’s a different story than last week as a weaker U.S. dollar is not lifting the yellow metal. Looking at gold and the USD retracement this week, Gary Wagner notes that it’s interesting that the lower U.S. currency isn’t taking gold out of its downward spiral. Focusing on Friday’s nonfarm payrolls data, Wagner says with the stock market hitting highs, investors are holding back to see if there’s any kind of pullback, which he says would give way to some safe-haven buying in the precious metals. As for the jobs numbers themselves, Wagner thinks there will be more positivity for the U.S. economy. Tune in now to see what Gary’s eyeing on the charts on this week’s edition of Chart This! Kitco News, June 4, 2015.
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