The David Lin Report · Wednesday, July 15, 2026
Gary Wagner believes gold has tentatively formed a support level around $4,000, despite recent geopolitical tensions and varying inflation data. He notes that while lower CPI prints initially boosted markets, rising oil prices and events in the Strait of Hormuz could reignite inflation concerns.
“So, interesting times, and I agree with you. I think that we have at least on a tentative basis, formed a bottom or a definitive level of support at around 4000, we'll get into detail when we look at some charts.”
“Absolutely. I mean, absolutely, I'm, I'm concerned and laser-focused about any activity, uh, between the US and Iran right now, because that is still, uh, tinderbox.”
“Today is reacting mostly on the inflation news, but I believe always in the back of all of these traders' minds is what is going on in Iran.”