Why Metals Are Soaring While Oil Stalls | CME Chief Economist Erik Norland on Precious Metals, Oil, Copper, and More

In this episode of Monetary Matters, Jack Farley interviews Erik Norland, Chief Economist at the Chicago Mercantile Exchange (CME), about macroeconomics and the commodities market. They discuss the recent surge in silver prices, the impact of solar panel and battery demand, and the role of central banks in precious metals. The conversation shifts to gold, touching on government deficits, inflation, and central bank policies. They explore the influence of Chinese economic growth on commodity prices, the potential for a global rise in protectionism, and the commodities most in demand due to AI and data center expansion, particularly copper. Erik shares his overall economic outlook, predicting improved growth rates due to global monetary policy easing and potential upside risks for inflation.