Gold has stopped taking its orders from interest rates. It should have fallen about 55% between March 2022 and October 2023 as real yields rose more than four points. It rose 7%. Then real yields fell less than a point over two years and gold rallied 110%, according to UBS Investment Bank. Ran Neuner ( @CryptoBanterGroup ) says the reason is the debasement trade, and that we have entered what he calls scarcity season. He walks through the $40 trillion US debt financed near 3.5% against a 10-year Treasury yield at 4.75%, the Treasury's buyback of its own long-dated bonds, and why he is long gold, silver, platinum, palladium and bitcoin at the same time. He also tells Jeremy Szafron the gold levels he needs to see, why silver always lags before it moves fast, and how he caps every position after losing $130 million in four days. Recorded September 3, 2026 Follow Jeremy Szafron on Twitter: @JeremySzafron (https://twitter.com/JeremySzafron) Follow Kitco News on Twitter: @KitcoNewsNOW (https://twitter.com/KitcoNewsNOW) Follow Ran Neuner on Twitter: @cryptomanran (https://twitter.com/cryptomanran) Chapters 00:00 Gold broke its 20-year link to real rates 01:24 Scarcity season is here 02:12 Why he says the buybacks are money printing 04:52 At war with the bond vigilantes 06:25 Not a big believer in the four-year cycles 07:36 He says the last bull run started with a bank failure 09:45 You don't need something to break, just someone fighting it 11:15 Long gold, silver, platinum, palladium and bitcoin 12:15 He says the 200-week average is the risk-reward line 13:56 Why he says the Fed won't hike 19:11 Every time the 10-year hits 5%, they intervene 22:53 The cost of production floor at $50,000 to $58,000 26:00 How he toggles on extreme fear and extreme greed 29:02 The $130 million mistake that taught him everything 31:24 His actual portfolio, percentages and all 32:53 Silver's like a scorpion, and gold has to run first 34:00 The gold levels he needs, 4,781 then 4,900 35:39 The danger of 25x leverage on gold 38:32 Should a 60-year-old own any bitcoin 39:15 Why AI agents will need their own money #gold #silver #bitcoin #debasementtrade #federalreserve #kitconews __________________________________________________________________ Like, share, and subscribe to Kitco News—and turn on alerts to stay current with expert interviews, market insights, and breaking news coverage. FOLLOW US: X: https://x.com/kitconewsnow Instagram: https://www.instagram.com/kitconews Facebook: https://www.facebook.com/KitcoNews LinkedIn: https://www.linkedin.com/company/kitconews Listen to the PODCAST on 🎧 Spotify: https://open.spotify.com/show/1My4WgtF0ZhUnxkxDLoJof 🎧 Apple Podcasts: https://podcasts.apple.com/us/podcast/kitco-news/id1842889233 🎧 All podcast episodes available here → https://kitconews.buzzsprout.com Visit: https://Kitco.com/ for live gold, silver, and crypto prices, the latest mining news, and macroeconomic insights. Live gold price and chart: https://www.kitco.com/charts/gold Live silver price and chart: https://www.kitco.com/charts/silver Live crypto market data: https://www.kitco.com/price/crypto Learn more about Kitco News: https://www.kitco.com/news/about/ For more information on advertising, sponsorship and marketing promotions – please visit our online media kit at: https://www.kitco.com/advertising Disclaimer: The videos are not intended to provide trading advice, and the views expressed do not necessarily reflect those of Kitco Metals Inc. Kitco News, its anchors, producers, and reporters are not responsible in any way for the performance or actions of any sponsor, advertiser or affiliate of Kitco News. In no event will Kitco and its employees be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content in this video. Disclaimer: The videos are not intended to provide trading advice, and the views expressed do not necessarily reflect those of Kitco Metals Inc. Kitco News, its anchors, producers, and reporters are not responsible in any way for the performance or actions of any sponsor, advertiser or affiliate of Kitco News. In no event will Kitco and its employees be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content in this video.
