The David Lin Report · Friday, August 7, 2026
Gary Wagner, editor of The Gold Forecast, discusses gold's recent surge past $4,300, attributing it to a significant shift in market sentiment rather than specific fundamental events. He notes that despite geopolitical tensions and Fed rate hike probabilities, gold's price action suggests a psychological re-evaluation by traders.
“Gold is seeing a massive one-day breakout now at $4,300.”
“I think what we saw was a textbook case, a classic example of a shift in market sentiment, the psychology behind whether we think it's overbought or oversold shift from bearish to bullish.”
“I believe the traders saw $4,000 as an opportunity to re-evaluate gold and re-enter the market.”