The David Lin Report Will Gold's Rally Hold Or Crash Next? Trader Reveals New Targets | Gary Wagner
Apr 20, 2026
Gary Wagner, editor of TheGoldForecast.com and precious metals analyst using Elliott Wave methods. He discusses the odd inverse gold–oil relationship, whether gold has bottomed near $4,100, and targets above $5,600. He also covers silver’s outperformance, large 2026 swings signaling uncertainty, and how oil and Fed dynamics could shape inflation and prices.
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Gold Rising While Oil Falls Shows Market Uncertainty
- Gold's recent rise despite falling oil reflects unusual market uncertainty rather than typical inflation mechanics.
- Gary Wagner points to sharp dollar weakness (DXY ~100 to ~96) and uncertainty over the Strait of Hormuz as the push-pull driving gold higher while crude falls.
Gold's March Low Fits An Elliott Wave ABC Correction
- Gary Wagner interprets gold's March decline as a textbook Elliott Wave ABC correction ending around $4,100.
- He notes the drop was near a 61.8% retracement of the Aug–Jan rally from $3,400 to $5,600, supporting the corrective count.
Model Your Trades Around A New Five Wave Uptrend
- Expect gold to enter a new five-wave motive phase where the final fifth must exceed the prior all-time high above $5,600.
- Monitor intermediate corrective waves two and four; the count implies a multi-month move higher but with pullbacks.