Gold fell more than 3% after Kevin Warsh's Jackson Hole speech and kept falling Monday, even as American forces struck Iranian rocket launchers near the Strait of Hormuz and crude climbed above 90 dollars. Phil Streible of Blue Line Futures says a September rate hike would be a policy mistake the Fed has to undo, and that the undoing is when gold accelerates. Streible told his clients to take money off the table on Friday, before Warsh spoke, and explains exactly what he saw: silver stalling ...
Sep 1
33 min
Gold, the Fed and a September rate hike: former Federal Reserve Bank of St. Louis President Jim Bullard on Kevin Warsh's Jackson Hole speech, why foreign central banks found physical gold more desirable than Bitcoin, and why he thinks the FOMC is split pretty much down the middle. Warsh told Jackson Hole this morning that responsibility for 65 months of inflation sits squarely with the central bank. Markets moved a September hike from a long shot to the base case inside an hour. Bullard puts...
Aug 31
33 min
Gold is near $4,600 after its strongest month in decades, and investors around the world are selling into the rally. Jeffrey Christian of CPM Group says the coin sellers are late and the ETF buyers are on time. In this Kitco News interview, Christian explains how much of the world's gold is genuinely available at today's price, why dealers and refiners are quoting discounts on bars and medallions, what bank credit lines have to do with it, whether central bank gold buying is as strong as the...
Aug 27
57 min
Gold has had five straight up weeks and is heading for its best month since 1999. But former investment banker Felix Prehn ( @FelixFriends ) says most people who bought physical metal to protect themselves have left the bigger half of their money completely exposed. Speaking with Jeremy Szafron on Kitco News, Prehn puts typical retail AI exposure at 60 to 70 percent and says a plain index fund or 401k is likely around half AI already. His warning is that people then buy the same handful of c...
Aug 26
35 min
Professor Steve Keen says the AI bubble has less than a year to run, with revenue from serious users running at roughly one fifth of what these companies are spending. Speaking with Jeremy Szafron, Keen argues the debt that matters is private debt, not the $40 trillion everyone is watching, and explains why companies that have serviced their loans comfortably for 15 years could start defaulting. Keen was voted first by readers of the Real-World Economics Review in 2010 for having warned earl...
Aug 25
1 hr 4 min
Gold, the dollar and de-dollarization, with the historian central banks actually read. Barry Eichengreen says the dollar is losing ground, and that gold is not what replaces it. For years Eichengreen was the calm voice on the dollar. Slow erosion, about half a percentage point of global reserve share every year, no crisis coming. In this interview he tells Kitco News that has changed, and he names the exact day it changed for him. He also explains where the dollar's losses have actually gon...
Aug 25
58 min
Gold has pulled back from its highs and silver has given up a large piece of a record run. Dr. Thomas Kaplan has seen this before, and he called it in advance. In this exclusive interview with Jeremy Szafron, the chairman of the Electrum Group, NOVAGOLD and Sunshine Silver Mining and Refining says the drawdown is a "1987 moment" for precious metals, and that another tenfold move in gold is "not just likely, but inevitable." He also explains why he sold his energy company in 2007 and moved in...
Aug 22
1 hr 6 min
A war didn't lift gold. The highest long yields in 19 years didn't sink it. And the US Treasury, which has spent decades promising to be predictable, surprised the market on purpose. Gold finished the week above $4,600. US public debt passed $40 trillion for the first time. And Kevin Warsh gives his first Jackson Hole keynote as Fed chairman on August 28. Gary Wagner, Ole Hansen and Thomas Kaplan each sat down with Jeremy Szafron this week. None of them spoke to each other. All three said a...
Aug 22
16 min
Gold's path to $5,000 is open as a $40T debt burden hits bonds, while 70% of exchange copper risks being stranded in the U.S. Ole Hansen, Head of Commodity Strategy at Saxo Bank, joins Jeremy Szafron to break down the severe dislocations happening across physical metals and sovereign debt. Hansen explains why gold is rallying despite 30-year Treasury yields sitting at multi-year highs, arguing that investors are demanding a premium to hold long-term government paper. In the base metals marke...
Aug 18
42 min
Gold's $6,000 target is off the table and Kitco technical analyst Gary Wagner has put a new number in its place. Wagner, editor of TheGoldForecast.com, lowered his own $6,000 call on this show a month ago. He returns with $5,000 to $5,100 on the high side before the end of the year, and says the correction that took gold under $4,000 is finished. "We definitely hit a bottom," Wagner tells Kitco News anchor Jeremy Szafron, pointing to a six week base that broke out in the first week of ...
Aug 17
32 min
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