Macro Voices Episode 503, hosted by Erik Townsend and Patrick Ceresna, features an interview with commodities expert Adam Rozencwajg, who discusses the outlook for gold, crude oil, and uranium. Rozencwajg argues that despite a recent correction, gold remains in a bull market due to central bank buying and limited Western speculative investment. He also presents a contrarian bullish view on oil, suggesting it is currently undervalued and that shale production is rolling over. Finally, he expresses a bullish outlook for uranium, citing a supply deficit and potential for high prices. Patrick Ceresna then provides a trade of the week, focusing on natural gas as a potential beneficiary of the AI boom, and both hosts analyze the charts for equities, the U.S. dollar, crude oil, gold, uranium, copper, and 10-year Treasury notes.
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