Why oil is the leading indicator

The gold and silver markets are hitting a major pivot point as extreme geopolitical volatility clashes with a wave of aggressive technical selling. After gold touched a peak of $5,434 following the escalation of conflict in the Middle East, the metal has retreated significantly, testing critical support levels amid massive daily price swings of up to $200. 

In this episode of Chart This recorded March 9 2026, Gary Wagner, Editor of The Gold Forecast, explains why he is strictly ignoring the "unsustainable" daily wicks and instead focusing on the "real bodies" of the candlesticks to find the true market floor. We also dive into the 38% surge in oil prices this week—which Gary identifies as the primary "leading indicator" for all asset classes—and the "highly exaggerated" 4% jump in the U.S. Dollar Index (DXY) that is acting as a massive anchor on the metals complex. 

From the possibility of an "A-B-C correction" to silver’s surprising internal strength, this interview provides the roadmap needed to navigate these unique and volatile times.

CHAPTERS
0:00 - Introduction: Gold's Major Pivot Point 
1:45 - Trump’s Iran Comments and Market Stability 
2:45 - Technical Selling vs. Flight to the Dollar 
4:30 - Why Gary Ignores the "Wicks": Finding the Real Floor 
6:15 - The Strait of Hormuz and the $150 Oil Threat
8:00 - Silver Analysis: Fibonacci Retracements and Internal Strength 
10:15 - The DXY "Anchor": A 4% Jump in the Dollar Index 
12:30 - The A-B-C Correction: One More Move Lower? 
15:30 - Why Oil is the "Leading Indicator" for All Asset Classes 
17:30 - Strategy for Unique Times: Physical Gold and Non-Leveraged Plays 

#Gold #Silver #GaryWagner #KitcoNews #MarketAnalysis #Investing #OilPrices #TechnicalAnalysis #GoldPriceToday
__________________________________________________________________

Like, share, and subscribe to Kitco News—and turn on alerts to stay current with expert interviews, market insights, and breaking news coverage. 

FOLLOW US:  
X: https://x.com/kitconewsnow  
Instagram: https://www.instagram.com/kitconews  
Facebook: https://www.facebook.com/KitcoNews  
LinkedIn: https://www.linkedin.com/company/kitconews

Visit: https://Kitco.com/ for live gold, silver, and crypto prices, the latest mining news, and macroeconomic insights.  

Live gold price and chart: https://www.kitco.com/charts/gold
Live silver price and chart: https://www.kitco.com/charts/silver
Live crypto market data: https://www.kitco.com/price/crypto

Learn more about Kitco News: https://www.kitco.com/news/about/ 

For more information on advertising, sponsorship and marketing promotions – please visit our online media kit at: https://www.kitco.com/advertising  

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.

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.