Dr. Mark Thornton of the Mises Institute shares his outlook for gold and silver, laying out the factors that have been weighing on prices and commenting on what may kick off their next leg higher — in his view, the return of speculators could provide a boost.
"Speculators we found out last year are a main engine to the prices of gold and silver," he said.
This interview was filmed on October 14, 2026.
0:00 - Intro
0:18 - Factors weighing on gold
5:54 - Double bottom in silver?
8:01 - Gold price support level
10:17 - Stock market in bubble
14:22 - Bond market turmoil
18:20 - Judy Shelton, Bessent
21:15 - Fed waiting for crisis
25:46 - Gold, silver turning point
28:06 - US midterm elections
31:58 - Smelting/refining backups
37:17 - Outro
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