Gold ran about $300 in days, and copper set an all-time record in New York, and neither move had much to do with anyone wanting more of them. This week the Fed quietly opened a window letting Japan borrow dollars against the American debt it already owns, Congo banned copper and cobalt exports, a quarter of the world's sulfuric acid supply vanished, and global debt hit a record $353 trillion. From Kitco News, Jeremy Szafron breaks down the week with three guests who don't agree on much: char...
Aug 11
29 min
Don Durrett bought gold and silver miners the whole way down, and he says the last six months were the opportunity, not the problem. But he thinks one more dip is coming before the real move begins. Speaking with Kitco News, the GoldStockData.com founder, who tracks roughly 870 companies and owns 168 of them, said the first leg of this bull market ran from August 2024 to January's peak of $5,600 gold and $120 silver. He believes "leg two" hasn't started yet, puts the odds of one more correct...
Aug 11
46 min
Florian Grummes says gold's break above 4,200 was the signal he had been waiting for, and he has moved from 50% invested to 80% invested on the back of it. The founder of Midas Touch Consulting tells Kitco News anchor Jeremy Szafron that the trigger was not the metal itself but the Federal Reserve's new facility accepting Japanese collateral, which he calls "back to money printing" and compares in direction to the swap lines used during the Credit Suisse rescue. He is buying juniors rather ...
Aug 5
30 min
Economic historian Phillip Magness tells Kitco News anchor Jeremy Szafron that Americans who surrendered gold in 1933 at $20.67 an ounce got none of the gain when Washington repriced it at $35 less than ten months later. "It's always the private sector that gets the bad end of it." America's 261.5 million ounces are still carried on the federal books at $42.22 an ounce, about $11 billion against more than $1 trillion at market. Economic historian Phillip Magness tells Kitco News anchor Jerem...
Aug 4
45 min
The bond market just delivered a sharp rejection to the Federal Reserve’s latest rate decision, pushing 30-year Treasury yields to 19-year highs as inflation fears persist. Meanwhile, three top macro strategists—Gareth Soloway, Willem Middelkoop, and Mike McGlone—issue three completely conflicting calls on where gold, bonds, and energy go from here. In this episode of "This Week in Focus," Senior Anchor Jeremy Szafron breaks down the breakdown in traditional market correlations. From the Wor...
Aug 3
25 min
Mike McGlone, senior commodity strategist at Bloomberg Intelligence, tells Kitco News anchor Jeremy Szafron the Fed's next move is a series of 50 basis point cuts rather than hikes, and that it ends in a recession. He also says gold and silver have become sock puppets to the US stock market. The US struck Iran again overnight and crude fell anyway. According to McGlone, that is not a contradiction, it is the story, because pricing power in oil has shifted away from OPEC and toward the Wester...
Jul 31
47 min
The stock market whiplashed after a hawkish 9-3 Federal Reserve hold, but the real story is the massive unwinding in the semiconductor sector. Recorded midday Pacific, July 29, during the post-Fed reversal. Markets sold off into the close, with the Nasdaq 100 ending in correction territory. South Korea's KOSPI has crashed 33% this month, and memory chip giants like SanDisk are down 57% in just 30 days. Is the AI CapEx bubble bursting? In this episode, Gareth Soloway, Chief Market Strategist ...
Jul 30
36 min
Willem Middelkoop says the monetary reset isn't coming. It's already underway, quietly, in the accounting. He also argues China is now the dominant force in the gold market, buying on every dip while the West still trades paper. Kitco's Jeremy Szafron sits down with Willem Middelkoop, author of "The Big Reset" and founder of the Commodity Discovery Fund, for a wide-ranging hour on why both Washington and Beijing may want a cheaper gold price, the state gold buyers that don't show up in offic...
Jul 28
1 hr 5 min
Gold spent the week whipsawing around $4,000, and four very different experts gave Kitco four very different reads on why, and what happens next. They don't agree on the path. They do agree it's about something bigger than gold. In this week's This Week in Focus, Kitco's Jeremy Szafron pulls the threads together: technical analyst Gary Wagner on the two levels that now define the range and why he walked back his $6,000 call; veteran trader Clem Chambers on why he thinks the bottom isn't in a...
Jul 28
25 min
The U.S. national debt has reached nearly $40 trillion, and the interest alone now rivals the entire military budget. Constitutional scholar William Watkins argues the dollar today is backed by little more than the coercive power of the government, and that the drift from the founders' hard-money design is why the debt keeps compounding. Kitco's Jeremy Szafron talks with William J. Watkins, Jr. of the Independent Institute about how the spending guardrails came off (from the founders' "few a...
Jul 23
28 min
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