“Still Bullish Gold”

The gold and silver markets and their recent volatility are analyzed with Lina Thomas, Senior Commodities Analyst at Goldman Sachs. The conversation centers on gold's potential rise to $5,400 by the end of 2026, driven by central bank buying and private investor interest amid Fed rate cuts and debasement fears. A key factor influencing gold's volatility is the trading of call options, which can lead to rapid price increases and sharp pullbacks. The discussion shifts to silver, highlighting a liquidity squeeze in London vaults due to traders moving silver to the U.S., causing extreme price fluctuations. While both metals are seen as stores of value, gold is favored due to its structural demand and lower volatility compared to silver.