00:00 Julie

is a new target from Yardeni on gold too?

00:04 Speaker A

Yeah, gold continues to rally. Uh Yardeni says that $4,000 an ounce by year end is what he’s currently expecting. He sees $5,000 in 2026 and even 10,000 before the decade end. And he cited a few tailwinds, a few catalysts here. Uh one being Central bank buying, another geopolitical realignment, and finally what he calls a gold put as nations diversify reserves. And gold, if you’re seeing on your screen, just a steady up climb up 50% year to date. And we know gold is seen as a safe haven asset and there’s been many times throughout the course of the past uh year where there has been a flight to safety, there has been volatility. But it is interesting to see gold rise at the same time that uh the major indexes are rising as well. So there’s a lot of structural tailwinds but also the the gold bulls just keep saying that we could continue to see these all-time highs, Julie.

01:03 Julie

Well, and P.S., gold is also rising at the same time as so-called digital gold, you nest, right? So we’re seeing Bitcoin catch some new bids as well, renewed activity.

01:14 Speaker C

Yeah, that’s right. And Bitcoin uh seasonally in in October does well and typically gold front runs Bitcoin, but at the same time, we are seeing all-time highs for gold and for Bitcoin. And Wall Street is starting to dub uh this as a debasement trade. You’ve had JP Morgan talking about debasement vibes when it comes to the US dollar. You’re seeing the US dollar that’s been declining and therefore you’re seeing metals uh that have been rising. You’re seeing crypto that is rising. And part of this is because of these fiscal strains that governments are having and really around the world, not just the US, but you have this mounting debt and therefore investors are trying to uh get ahead of this debasement that’s happening with currencies. It’s not just the US dollar that’s having issues, it’s also the Euro, it’s the Yen. And so that’s why you’re seeing this bid when it comes to the metals, when it comes to crypto. And by the way, crypto, uh, Wall Street having price targets on crypto, like TD Cowen is saying 128 by the end of the year for Bitcoin. Uh, you’re looking at City that has 135 by the end of the year for Bitcoin. And those are some of the more conservative uh price targets out there because you certainly have price targets of 150 up to 200,000 uh according to some Wall Street uh estimates out there.

02:46 Julie

Yeah. Never hard to find high, high estimates and forecasts for Bitcoin, to be sure.