Ira Epstein discusses the current state of the metal markets, highlighting the influence of political factors on market dynamics, including the impact of inflation...
We examine how a physical shock moves through the commodity system, and why its most significant effects may not appear first in markets, but in the real economy.
The global gold bug’s enemies are government, fiat, and debt but sometimes an enemy can be a friend; savvy bugs keep enough fiat reserves to manage the emotional swings that occur with the ebb and flow of the price of their gold, silver, and miners!
Epstein covers geopolitical tensions involving Iran and the U.S., focusing on negotiations over uranium enrichment and the Strait of Hormuz, which are influencing market dynamics.
CLSA sees gold regaining $5,500/ounce in the medium term and upgraded its 2026, 2027, and 2028 price forecasts to $4,840, $5,130, and $5,500/ounce, respectively.
Gold is still working its way through a prolonged corrective phase. But gold is also being battered back and forth by the news from the Gulf. The Strait of Hormuz is open: gold up.
So I'm not in that camp that the metals are going to go sideways for a long time, not during a serious breakdown in the dollar, which I think is coming.
Ira Epstein discusses the current geopolitical tensions and their impact on the metals market, focusing on the contradictory statements surrounding the ceasefire involving President Trump and Iran.
Price year-to-date has spanned from 5586 (our forecast high 5546) down to 4100 (our forecast low 4136), a range of -1486 points (-26.6%). ‘Course, with 179 trading days remaining in 2026, ’tis far too soon to “take credit” that we “nailed it”. But range has been nonetheless narrowing.
