Craig Hemke

Craig Hemke – Inflation, Warsh Presser, Geopolitics, Seasonality, Mid-terms To Drive Precious Metals

• Top takeaway The guest argues inflation is not going away because the US government needs to run it hot to pay off yesterday's debt with cheaper dollars, and he doubts Warsh can return inflation to 2%.
• On price action as of the recording, gold is down about 4% year to date after 25% in 2024 and 63% in 2025, still holding above $4,000, and he sees a sideways year as an acceptable outcome after two huge years.
• He points to seasonality: over 2017-2026 January averaged the best month (+3.7%), followed by December (+2.8%), so the November-to-January stretch starting in about three weeks is typically the best period for precious metals.
• He flags this week as 'sneaky important': CPI Wednesday and PPI Thursday precede Kevin Warsh's Thursday-night speech in Thailand and next week's FOMC, and a benign outcome could help break the downtrend of lower lows and lower highs in place since February.
• On the US mid-term elections about three weeks away, he expects significant market volatility, noting markets often react opposite to what is expected on election night.

The guest argues US deficit spending structurally requires inflation, making a return to the Fed's 2% target unlikely regardless of who chairs the Fed. This week's CPI and PPI readings plus Kevin Warsh's Thailand speech could reset rate expectations just before next week's FOMC meeting. Gold holding above $4,000 and silver oscillating around $60 after two huge up-years is consolidation, not weakness; gold is down only about 4% year to date. Gold seasonality turns favorable from November through January, driven by Indian festival demand, holiday jewelry buying, and year-end portfolio repositioning. Q3 margins for gold and silver producers remain historically strong, pointing to a solid earnings season, potential M&A, dividends, and buybacks.

Precious Metals Warning: Gold Targets $3,600 While Bitcoin Turns Bullish | Chris Vermeulen

• Top takeaway As host, Hemke frames the setup: a strong August for gold and silver reversed in September as rate-hike odds rose and the dollar rallied, and he presses Vermeulen on which metals levels must hold into year-end.
• He floats the scenario of the 10-year yield reaching 6% and Bessent becoming a buyer of everything above 5%, and asks whether a break below the roughly $3,900-$3,960 gold low would be the alarm bell.
• He warns October is historically a volatile month and expects a doozy, and notes he and his subscribers got through the silver spike with a cost basis below $20, stressing diversification.

Technical analyst Chris Vermeulen argues gold has broken down, targeting $3,600 — possibly $3,100 — if support near $3,900 gives way. An October 1 exhaustion gap (panic selling ending a move) in bonds suggests falling yields and a TLT bounce, though the bond downtrend remains. He sees money rotating into equities and Bitcoin, which stage analysis (reading trend via moving averages) says has turned bullish, targeting about $95,000. He maps Nasdaq upside with Fibonacci measured moves (about 3% near term, 14% potential) that an Anthropic IPO could ignite, pulling capital from metals. His lesson: a strong fundamental story never guarantees price — gold once fell 45% and silver 72%, each taking 13-plus years to recover.

Gold and Silver Are Setting Up for a “Meteoric” Move, Michael Oliver Warns | Sprott Money

• Top takeaway Hemke lays out a fundamental case that Washington is moving toward dramatic measures to control interest rates, which he argues will be extraordinarily bullish for the metals.
• He frames the quarter-end backdrop: a September rate hike with possibly two more ahead, a sharp bond selloff, metals giving back most of August's gains, yet gold down only about 5% year to date after a 63% gain in 2025.

Gold miners broke a 12-year valuation range versus gold; the guest argues big asset managers are rotating in, starting with Newmont and Wheaton. The guest says silver's 8-month, 50% correction mirrors 2008's, after which silver quintupled while gold merely tripled; this pullback looks exhausted. Western governments face debt crises with only one exit, printing money, and the guest calls that ongoing debasement the driver of higher gold. Ratio math puts $8,000 gold at a mere repeat of past 8-fold bull waves, and about $500 silver just matching its old range. Several major banks sit on momentum structure one weak quarter-end close from breaking down, shades of 2007-08, which would push the Fed to print.

TF Metals - Gold & Silver Support Levels, Fed Policy, and Sector Sentiment

• Top takeaway He argues the month-long gold and silver pullback reflects rising real rates and a rallying dollar rather than broken fundamentals, with gold only about 5% off its lows.
• He contends a stock-market crash would not lift gold as a safe haven — in his experience gold responds to the central-bank liquidity that follows liquidity events, as in 2008.
• He sees silver holding above $48 for nearly a year as a constructive long-term sign, unlike its collapses back toward the teens after the 1979 and 2011 spikes.
• He says mining equities and sector ETFs are outperforming bullion because second-quarter earnings showed producers absorbed higher energy costs without severe margin damage.
• He expects a debt-driven 'max pain' point that will force the Treasury to expand its small yield-curve-control bid for the long bond.

Rising real yields and a stronger dollar — not deteriorating fundamentals — explain the month-long gold and silver pullback after August's rally. This week's JOLTS, payrolls, and PCE (the Fed's preferred inflation gauge) releases will shape whether the Fed hikes again in four weeks. Mining equities and sector ETFs outperform falling bullion because second-quarter earnings showed producers absorbed higher energy costs without severe margin damage. The guest argues a stock-market crash would not lift gold on its own — central-bank liquidity responses after liquidity events do. Silver holding above $48 for nearly a year defies its historical post-spike collapse pattern, which the guest calls constructive for the long term.

Craig Hemke - FOMC Catalysts, Geopolitical Energy Shocks, and Gold vs. Silver Divergence

• Top takeaway Hemke argues the macro setup has flipped hawkish - markets now price roughly a 90% chance of at least a 25bp Fed hike at the September meeting, versus a 60/40 no-hike lean in August, and he notes the entire yield curve has shifted about 1% higher since the war began on March 1.
• He frames gold and silver as building a sideways base since May/June rather than staging a V-shaped recovery, pointing out gold is only about 10% off its recent lows (around 4,300-4,400 dollars versus the 4,700 dollar peak) and silver roughly 15% off, with the 10-year note back above 5%.
• Hemke attributes the recent two-way volatility to a structural drop in market participation - COMEX silver open interest sits near 103,000 contracts versus an all-time high near 244,000 six years earlier - and blames CME margin hikes for chasing hedge funds out of the market.
• He expects gold and gold shares to keep outperforming silver and silver shares for a while, because silver January blow-off (from roughly 72 dollars at year-end 2025 to about 112 dollars by late January) needs time to be digested.
• Hemke observes that leadership inside the gold complex is coming from larger, higher-quality producers rather than juniors - not the late-cycle pattern of juniors leading - and points to Newmont recent all-time high as a concrete example.

FOMC is priced for a 25 bp hike, but Hemke argues the bond market has run 100 bps ahead of Fed funds since March. A damaged Middle Eastern pipeline is keeping crude firm and reinforcing the hawkish case that pressured precious metals from August highs. Hemke frames the pullback as a multi-month base — gold is still $400 off its lows and 10% above the June hawkish peak. COMEX silver open interest near 103,000 contracts has thinned depth on both sides, which Hemke blames for amplified two-way intraday volatility. Silver’s January blow-off to $112 left the chart muted; Hemke expects gold and large miners like Newmont to keep outperforming for now.

“That Is the End Game”: Hemke Warns of Yield Curve Control

• Top takeaway The guest argues yield curve control is the 'endgame' policy path — he frames Bessent's August Treasury buyback announcements as establishing a bid at around 5.3% to cap long-end yields, which he calls extraordinarily bullish for precious metals.
• He says the US government cannot afford higher interest rates given the $40T national debt and $1.4T in annual debt service, so the market has effectively taken over rate-setting — the 2-year up 120 bps and the 10-year up 100 bps since March 1, while the Fed can only nudge the overnight rate.
• He points to relentless central bank buying — China's PBOC alone has added 280 metric tons YTD versus 27 metric tons for all of 2025, with Kazakhstan and Poland also accumulating — as a physical floor that would make any future margin-driven gold selloff short-lived, drawing the parallel to the March 2020 and summer 2008 washouts.
• He warns diesel is a structural inflation driver — the reported Houthi strike on Saudi Arabia's East-West pipeline combines with California diesel at $9.99 and Midwest prices above $5 a gallon, feeding agriculture, rail, trucking and mining — pushing inflation expectations and therefore nominal Treasury yields higher.
• He frames long-term precious-metal ownership as the debasement trade, citing Morgan Stanley's 60% equities / 20% bonds / 20% gold portfolio shift, and tells viewers to use any further dip as a buying opportunity, citing his 16 years running TF Metals Report.

Hemke argues that Treasury bond-buying to cap long yields is the early stage of yield-curve control, which he considers structurally bullish for gold and silver. Sustained central-bank gold demand places a physical floor under paper prices, making forced-selling pullbacks shallow and worth buying into. The Fed only directly controls the overnight federal funds rate; market-set two- and ten-year yields are forcing the US government's hand regardless of Fed action. Surging diesel prices from pipeline attacks propagate through trucking, rail, and farm equipment into broad consumer inflation that policy cannot easily suppress. Stepping back from intraday candles to compare year-over-year and year-to-date moves shows precious metals remain meaningfully off their recent lows.

Global Gold Rush: Josh Phair Reveals the Warning Investors Are Missing | Sprott Money

• Top takeaway Hemke frames the episode around whether metals are still a trade or should be a core holding, asking Phair to summarize what the industry has seen so far in 2026 and where it goes for the rest of the year and beyond.
• He asks whether ordinary investors actually track central bank gold demand, notes that China went a long stretch without buying officially before resuming, and calls it a signpost worth watching.
• He presses on preparing rather than reacting, asking how an investor granted advance knowledge of what is likely coming would take steps now instead of waiting for it to land.
• He promotes the Scottsdale Maple Leaf Stacker, a 1-ounce silver round sold exclusively through Sprott Money, describing the frosted maple leaf side against the high-polish reverse.

The guest argues precious metals have shifted from a trade to a core holding, as governments buy gold and silver with newly printed fiat currency. China's central bank resumed official gold buying, taking 25 tonnes in 2025 and 80 tonnes year-to-date after adding 20 tonnes in August. The guest reads the US critical-mineral designation for silver and a planned price-floor project as signs government is buying the dip. Wyoming Reserve's vault holds about 90% of its balance sheet in gold and silver, having raised roughly $50 million and now pursuing $110 million. Morgan Stanley's reported 20% precious-metals target is framed as a warning signal, well above the 5% allocation most advisers suggest.

Gold Rally in Danger? Chris Vermeulen Reveals His “Screaming Buy” Zone | Sprott Money

• Top takeaway The host frames the macro backdrop: a Bank of Japan yen intervention earlier that day strengthened the yen, weakened the dollar, and helped metals reclaim early-week losses, with Friday's U.S. non-farm payrolls still ahead of the recording
• He cites COMEX silver open interest at roughly 103,000 contracts (the lowest since mid-July) versus a prior peak near 244,000 contracts as evidence that burnt speculators are sidelined, and argues that simply ending 2026 above last year's $71 close would already be a strong outcome for silver

Vermeulen flags $3,600 as a deep long-term gold buy zone if prices pull back further. Gold and miners are in a short-term uptrend, but the long-term 150-day moving average still slopes down — mixed signals persist. Miners (GDX) broke out roughly a month before gold itself, with three significant highs cleared, signaling momentum. Silver is stuck below the $75-$76 resistance zone and has yet to take out its 100-day moving average. A potential bear-market bounce is the base case until a confirmed breakout to $8,000 arrives.

Craig Hemke - Navigating Post-Jackson Hole Volatility in Gold & Mining Equities

• Top takeaway Argues the August selloff was an algo-driven end-of-summer dip after hawkish Jackson Hole comments, with the lows in and gold potentially heading toward $5,000 in a rounded-bottom scenario by year-end 2026
• Believes mining shares leading the rebound (up 30%+ in August) shows this is not late-stage speculation, with GDX still above its 200-day and December gold support at ~$4,500 (prior March/May lows)
• Sees COT positioning getting heavy (largest speculator positions since January), consistent with the overbought reading that the market is now washing out
• Highlights that a weak August jobs report, after July's negative 57,000 print, could completely write off rate hike expectations at the next FOMC meeting
• Believes silver staying above $48 (now mid-60s) is structurally bullish and unlikely to revisit the teens/20s/30s absent an unforeseen liquidity crisis

Gold, silver, and mining equities rebounded 10-30% in August before a hawkish Jackson Hole pullback from Chair Warsh reset expectations. Watch $4,500 on the December gold contract as key support; GDX and SILJ remain above their 200-day moving averages. Silver lags gold, copper, and major miners but holding above $48 — the 1979/2011 highs — argues against another collapse. COT data shows speculators at their largest long positions since January, suggesting a healthy washout is likely before the next leg higher. Central bank gold demand and steps toward yield curve control support the long-term debasement trade, even after short-term hawkish Fed headlines.

$40 Trillion in Debt and Financial Repression Is the Only Exit | David Morgan

• Top takeaway Frames August as a breakout month — gold at $4,400 (up from $3,400 a year earlier) and the GDX up roughly 50% — triggered by the July 30 Treasury-BOJ coordination and Bessent's announced Treasury auction-size increases
• Argues the miner-led rally is a forward-looking signal, repeating the 2025 pattern when miners ran first starting August 1 and metals broke out around Labor Day
• Expects silver to rush up and catch up, noting it has lagged below its 100-day moving average while gold and mining indexes broke above their 200-day
• Highlights that 63% of July's combined corporate and personal income tax receipts went to debt service, per the latest monthly Treasury statement
• Flags the November US midterm elections and ongoing Japanese yen volatility as two catalysts likely to shape metals and broader markets through September and October

The guest argues the $40T US debt pile and financial repression will keep real yields negative, draining purchasing power from T-bill holders. Treasury yield curve control is creeping in - through larger buybacks, maturity management, and quiet pressure on holders - without an explicit announcement. Mining shares have crossed their 200-day moving averages while silver still trails its 100-day, repeating a pattern that preceded the 2024 metals breakout. The guest argues investors should measure gold's value in baskets like the Dow, oil, and housing instead of chasing round-number price targets. AI's data-center financing may not generate enough revenue to repay its borrowing, raising the risk of a taxpayer-funded bailout.

Silver Above $60: Why the Bull Market May Be Far From Over | Lon Shaver (Silvercorp Metals)

• Top takeaway Hemke argues that silver staying above $60 through the summer of 2026 is significant because prior excursions above $50 in 1979 and 2011 reversed immediately, and this move has not.
• He contends the mining sector has been sold off indiscriminately, with Silvercorp down roughly 25% from its February high despite its low-cost structure, so investors should look past the sector trade and underwrite each producer individually.
• He urges viewers to do their own homework and identify companies that control input costs rather than ride the broader mining squeeze narrative.
• He echoes Eric Sprott's framing that primary silver miners are scarce and pitches Silvercorp as a notable option for silver-specific exposure.

Silver holds above $60 despite summer doldrums, with constrained new mine supply and durable industrial demand supporting the bull case, argues Silvercorp president Lon Shaver. Silvercorp's all-in sustaining cost of roughly $14 to $18 per ounce insulates margins from energy cost inflation and lets profits widen sharply at higher realized silver prices. Bringing a new mine from discovery to first production can stretch 5 to 20 years once permitting, community negotiations, and capital intensity are factored in, so today's tight silver supply is unlikely to ease quickly. Silvercorp closed a 6 million ounce gold acquisition in Kyrgyzstan in January and is now drilling two campaigns totaling 110,000 meters to grow resources ahead of a planned 2027 PEA. In its most recent quarter Silvercorp realized about $69 per ounce of silver after smelter deductions, highlighting the margin leverage of high-grade lead concentrates even at lower headline prices.

Gold Isn't Getting More Expensive - Craig Hemke

• Top takeaway The guest argues that gold isn't getting more expensive — it's taking more and more dollars to buy it because the dollar is being steadily devalued.
• He frames this as a long-term structural trend, expecting continued money printing to service an ever-increasing load of debt to keep pushing the dollar's purchasing power down.
• He cites historical price points relative to the 2026-08-18 as-of date to illustrate the point: roughly $1,100/oz ten years ago, about $2,200/oz five years ago, and $4,400/oz at the time of recording.
• He argues gold itself doesn't change ('just a pet rock'), in contrast to equities where a share price can rise from a new ore body or new technology — so the entire move in nominal gold price is, in his view, a dollar-devaluation story.

Craig Hemke argues rising gold prices reflect dollar devaluation, not gold becoming more valuable — $1,100 a decade ago, $2,200 five years ago, $4,400 today. Gold itself does not change; the dollar loses purchasing power as more is printed to service rising debt. Investors can also see share price gains from company-specific catalysts like new ore bodies or new technology, separate from commodity moves.

China Wants to Control Gold Pricing - Craig Hemke

• Top takeaway He points out China purchased 20 metric tons of gold in July alone, putting the year-to-date total at 60 metric tons through July, versus only 24-27 metric tons across each of the prior two full years.
• He reads the surge as strategically ambiguous — either China using dollar weakness to diversify reserves or stockpiling gold to back its exchanges — and concludes it is materially impacting central bank demand.

China bought 60 metric tons of gold through July 2026, more than double its 24-27 metric ton annual pace of the prior two years. The surge in Chinese official-sector gold buying is driving a notable lift in global central bank demand. Beijing's motive is unclear — it may be selling dollars on price weakness or stockpiling reserves to back new exchanges.

Craig Hemke - Precious Metals Rebound, Fed Pivot Expectations, Macro Drivers Fueling Gold Stocks

• Top takeaway The guest argues the August precious metals rebound reflects a confluence of factors: diminished Fed rate-hike expectations (now roughly a one-third chance of no hike this year), a weakening dollar, a negative jobs report, and tame inflation.
• The guest frames the July 30 US Treasury-Bank of Japan currency intervention as a 'shot across the bow' — calling it the most important event in the global currency system since Russia's foreign currency reserves were frozen in early March 2022.
• The guest highlights the US fiscal math: a $432B July deficit (46% above the prior July's $286B), and debt service costs consuming 63% of personal plus corporate income tax receipts — concluding that higher nominal rates are a 'nonstarter'.
• The guest notes gold stocks have been moving roughly three times gold's move and silver stocks about twice silver's, with the outperformance concentrated in higher-quality names; juniors have lagged.
• The guest points to a potential trend turn on the GDX: the 20-day is about to cross back above the 50-day, and he counts six consecutive closes above the 200-day moving average — a level he views as the institutional 'line in the sand'.

Precious metals are rebounding on falling Fed hike odds, a weakening US dollar, and global central bank intervention signals. Sustained US interest rates are mathematically unsustainable — debt service consumed 63% of July income tax receipts. Mining equities amplify metal moves: gold stocks rallied roughly 3-to-1 versus gold, with silver equities at 2-to-1. The VanEck Gold Miners ETF (GDX) closing above its 200-day moving average for six straight days suggests a structural trend turn. July FOMC minutes and Jackson Hole (Aug 27-29) are the next macro catalysts that could swing precious metals prices.

China Is Taking Gold Pricing Away From the West | Craig Hemke

• Top takeaway Hemke argues the July 30 US Treasury move to sell euros and buy yen to backstop the yen (done, he says, without notifying the ECB) was the major catalyst for gold's $300 rally that week
• Frames China's new physical gold vault in Hong Kong as part of a decade-plus incremental plan to build an alternative, more physically-driven pricing mechanism away from the London/New York system
• Argues sustained central bank demand — including China buying 60 metric tons through July versus 24-27 metric tons in all of the prior year — has put a firm floor under the paper price and rules out a collapse toward $2,000
• Holds a long-term thesis that the dollar price of gold keeps rising because of dollar devaluation, not because gold itself is changing

The guest argues the U.S. Treasury's yen intervention signals more dollar weakness ahead, reigniting gold's bull case. China's decade-long build-out of a physical gold exchange is moving the market from price taker toward price maker. Central bank gold demand creates a structural floor — speculator selloffs force bullion banks to step in and buy. Mining-share ETFs (like GDX) broke above four moving averages in one week, often a leading signal for the metals. The guest's core view: gold isn't rising — the dollar is devaluing, so each ounce simply costs more dollars.

🚨Gold Miners Are Still Bearish - Chris Vermeulen Warns #shorts

Gold miners remain in a strong technical downtrend despite a brief short-term momentum signal from a 5-day/20-day moving average crossover. Chris Vermeulen argues the 50-day moving average still slopes downward, confirming bearish pressure outweighs any near-term bounce. Traders watching for short-term pops can use shorter moving average crossovers even within broader bearish trends, per Vermeulen. The discussion focuses purely on technical signals — moving averages filter out fundamentals and emotions to reveal the underlying trend.

Gold and Silver Face a Dangerous Turning Point as Stocks Surge | Chris Vermeulen Warns

• Top takeaway Hemke is watching whether the Fibonacci-extension pattern he tracked through 2024 and 2025, where gold ran to the 618 level, now plays out on the downside, though gold was holding support near that level at the time of recording.
• He frames the dollar index as a key headwind for metals, citing the new US Treasury-Bank of Japan program to support the yen as a factor that has weighed on precious metals for several months.
• He pushes for concrete bull-market confirmation levels in silver, floating roughly $62, $65 and $70, and asks whether strong second-quarter earnings are drawing money into mining shares.

The guest reads the US dollar as having entered a technical bull market after its January bottom, likely capping gold and silver. The metals bounce is a counter-trend rally inside a downtrend, the guest argues, with gold miners still technically in a bear market. Confirmation to turn bullish requires gold, silver, and miners breaking prior significant highs so the 50-day and 20-day moving averages turn up together. A broadening stock rally — money rotating out of big tech and AI into equal-weighted and small-cap stocks — signals investors still want risk. Fibonacci extensions (measured-move price targets) suggest the stock rally could run another 8-18%, surprising investors betting on a decline.

Craig Hemke - Fundamental and Technical Drivers Behind the Precious Metals Surge

• Top takeaway Argues the worst of the correction is behind: he called the late-June lows near $4,000 gold and $55-56 silver about as bad as it would get, and expects the second half of 2026 to beat the first.
• Says the turn began with the U.S. Treasury working with the Bank of Japan to support the yen, which crushed the dollar-index uptrend and pulled the 2-year yield from about 4.3% down to 4.18%.
• Frames the Treasury/Fed yen support as a continuation of debt monetization that devalues the dollar, noting the U.S. was about two weeks from crossing $40 trillion in total debt.
• Explains the rally through algo positioning: below key moving averages every rally gets sold, but gold reclaiming its 50-day near $4,250 triggered short covering and flips the pattern to buying dips.
• With gold up 25% in 2024 and 63% in 2025, he says a flat-to-10% 2026 — even around $4,700 — would be a strong year, while warning not to expect a V-shaped rebound.

Falling real interest rates — borrowing costs minus inflation — are reversing the main headwind that pressured gold over the past 90 days, Hemke argues. A US Treasury-Bank of Japan yen-support operation broke the US Dollar Index (a dollar strength gauge) uptrend, lifting precious metals. GDX and GDXJ reclaiming their 50-week moving average — a long-term trend line — can flip algorithmic traders from selling rallies to buying dips. After gains of 25% in 2024 and 63% in 2025, gold merely holding flat in 2026 would fit its historical pattern, Hemke notes. Sentiment follows price: downcast companies and investors a week ago turned chipper within days, making Friday's jobs report the next test.

URGENT: U.S. Treasury Steps In... Is the System Cracking? | Craig Hemke

• Top takeaway Hemke's core thesis: with U.S. debt around $40 trillion as of August 2026 and doubling every 8-9 years toward $80 trillion by 2033-34, servicing it requires money-supply expansion and negative real rates, so gold's dollar price keeps climbing — $1,000, then $2,000, now $4,000, and in time $8,000 then $16,000.
• He expects the roughly $4,000 gold and $55-56 silver floors that have held since late June 2026 to stick, thinks the worst is over, and sees gold ending 2026 somewhere in the $4,000s with silver between 60 and 70 as the market refocuses on falling real rates, soaring deficits, and Fed rate cuts.
• He calls the announced Treasury-Bank of Japan pact to support the yen an unprecedented overt intervention and argues officials openly manage currencies, bonds, and oil while dismissing precious-metals price management as conspiracy theory.
• He notes the U.S. will end fiscal 2026 in September with a roughly $1.8 trillion deficit — essentially unchanged despite DOGE and tariff promises — leaving the 10-year Treasury near 4.65% and the long bond above 5% unaffordable over the long run.
• He advises aging metals holders who are losing sleep after five soft months to right-size their exposure, find a financial or estate planner who understands hard assets, and views physical gold and silver as the most reliable long-run store of purchasing power.

Hemke argues US debt doubling every 8-9 years and negative real interest rates (below inflation) keep gold's uptrend intact. An unprecedented, openly announced Treasury-Bank of Japan alliance to support the yen exposes cracks in the fiat system and bond markets. Rising Treasury yields are 'untenable' long term; Hemke says the government can only repay old debts with tomorrow's cheaper, devalued dollars. Gold is a measuring stick, not an investment that changes: its dollar price reveals the currency's lost purchasing power over decades. He expects recovery into year-end, gold in the 4,000s and silver 60-70, and advises matching metals exposure to time horizon and risk tolerance.

The Biggest Mistake Gold & Silver Investors Make | Bob Thompson #shorts

Silver parabolic rallies typically end in sharp corrections that punish unprepared holders and shake out new entrants. Most precious-metals investors are 'tourists' who buy when markets feel comfortable and sell when storms hit. A steady 25%-a-year grind over 8 years would outperform the volatile spike-and-crash pattern Bob prefers to avoid. Low crowd participation in bull markets historically coincides with the strongest gains — staying invested through volatility separates winners.