Gold and Silver Continue to Rally – Is There More to Come?

Sean Brazney: Hello, my name is Sean Brazney, Sales Director for Monex Deposit Company. I have the great pleasure of being here with renowned Precious Metals Analyst and Expert, Founder, and one of the many analysts over at CPM Group. Thank you for being with us today, Jeffrey.

Jeffrey Christian: Always a pleasure to be with you and with Monex.

Sean Brazney: We’re here to talk about our report, Precious Metals, 2024, Precious Metals in a Rising Storm. I want to remind our viewers that this isn’t something we got together in November and created a bunch of content for and then we sit here throughout the year trying to rehash the same content over and over again. This is stuff that you do as the author, and that it’s updated and new, based on relevant activity in the marketplace. As an example, our May report, you really just came out strong in our most recent May report. You talked about the extravagant price moving gold for March and April. You made a comment that this is only the beginning, going higher later. I’d love your take on why you stated that and what you see going out into the future.

Jeffrey Christian: We’ve been predicting– and as you said, this is not anything that we just thought up. Last year, our theme was the eye of the storm or the calm before the storm. So, we’ve been talking about this coming for some time, the idea that gold and silver prices would rise sharply in 2024, 2025 due to a combination of negative and hostile economic and financial and political factors, and those factors are coming to bear.

Now, if you read our study reports for you, we were thinking that the prices would be relatively strong in the first quarter, calm down in the second and third quarters, and then pick up in the final four months of this year into next year, and we had some price projections, which I believe we put in your reports, that sort of signaled that. What we’ve seen in the course of March and April are much stronger gold and silver prices. We’ve seen gold go from $2,000 an ounce in the middle of February to $2,400 something in the middle of April. We’ve seen new intraday record prices three times in March and I think two times so far in April. So, we’re seeing the gold price and the silver price as strong as we thought they would be later this year. So, that tells an analyst, OK, you have a question. Did I get the timing wrong or did I get the magnitude of the upward move wrong? What we’ve done in the May report is we’ve looked at the economic and political environment, interest rates, inflation, the political situation in the United States, international political situation and we’ve said, all of these things aren’t as bad as we thought they would be, aren’t worse, and they’re not going to be resolved, they’re going to get worse as the year progresses. So, it’s not that we got the timing wrong and we’ve reached a peak in March and April. It’s that we got the magnitude of the upward move wrong and that the gold and silver prices should be expected to continue to move higher over the course of the next year and probably into, if not through, 2025. So yeah, it’s more to come. This isn’t the end of this all. This is sort of the beginning of the storm that we’ve been warning about for several years.

Sean Brazney: It’s going to be an exciting year and hopefully a few more years to come.

Jeffrey Christian: …asked me when I want to retire, and I said, “I am definitely not retiring in this kind of environment. This is what we’ve worked for all of our lives.”

Sean Brazney: We’re very thankful to you, Jeffrey, for being the author of our report, timely information, spot on. Our viewers need to call Monex, talk to an account representative, and get this report in their hands. Thank you again for your time, Jeffrey.