Will gold head to US$2,500...plus how 'powerful macro themes and powerful macro risks' support gold
Episode description
In this episode we look at the ‘powerful macro themes and powerful macro risks’ providing support for gold, how US loan officers are tightening lending conditions in spite of some quantitative easing attempts and why gold could reach US$2,500.
PODCAST INFO:
- ABC Refinery website: https://www.abcrefinery.com/podcast
- Apple Podcasts: https://podcasts.apple.com/us/podcast/the-pod-of-gold/id1592958488
- Spotify: https://open.spotify.com/show/1WCw03OP7dsWJFrGR2l5Zb
- RSS: https://anchor.fm/s/66995438/podcast/rss
- Nick Frappell: https://twitter.com/nick_frappell
- Shae Russell: https://twitter.com/shaearussell
OUTLINE: Here's the timestamps for the episode. On some podcast players you should be able to click the timestamp to jump to that time.
· (1:18) – Key drivers supporting spot gold.
· (2:27) – Why central banks increased their gold positions in 2022.
· (6:07) – Fed offers a form of QE…
· (9:30) – …which butts up against QT as senior loan officers tighten lending conditions.
· (11:26) – Applying Taylor Rule: rates not as tight as the market thinks.
· (15:32) – US economy still runs a little hot.
· (17:44) – Financial system more leveraged than the past, impacting rate increases.
· (18:29) – The US debt ceiling could be a ‘grey swan’ event.
· (21:35) – An unresolved debt ceiling is ‘not impossible, but unthinkable’.
· (23:26) – Bank of Japan yield curve control.
· (27:22) – Nick overtly bullish on gold.