Gold Drops Below $4,000: Gary Wagner Reveals the New Support Levels

Gold dropped below $4,000 for the first time in months. Kitco technical analyst Gary Wagner breaks down where gold's new support levels sit, why this has become a Federal Reserve and interest-rate story more than a geopolitical one, and the two lines that decide gold's next move. Kitco News anchor Jeremy Szafron speaks with Gary Wagner of The Gold Forecast about gold's break below $4,000, his revised downside support near $3,900, the $4,200 level that would flip the chart back to the bulls, why silver is falling faster than gold, whether a rate hike is now more likely than a rate cut, and if the multi-year gold bull market is rolling over or simply correcting. This interview was recorded on July 16, 2026.Disclaimer:  The videos are not intended to provide trading advice, and the views expressed do not necessarily reflect those of Kitco Metals Inc. Kitco News, its anchors, producers, and reporters are not responsible in any way for the performance or actions of any sponsor, advertiser or affiliate of Kitco News. In no event will Kitco and its employees be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content in this video.