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What's Behind The Gold (+ Silver + Platinum) Bull? | Michael Pento
The labor market is cracking, says portfolio manager Michael Pento (https://pentoport.com/). While there is superficial optimism based on tariff deals, the foundations of the economy are cratering. And partly due to high energy costs, there is likely no relief coming for high prices. "The level of inflation has destroyed the middle class," he argues. While central banks have been accumulating hard assets like gold, the movements in Bitcoin show that the common man is moving into precious metals. "People are dying for another alternative to the U.S. dollar," he says. He is bullish on gold, platinum, and potentially silver as demand for hard assets outside the manipulated financial system increases.
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1 oz Silver Maple Leaf coins: $3.09 over spot
1 oz Silver Engelhard Prospector rounds: $4.79 over spot
1/10 oz Gold Maples: $39.99 over melt
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INTERVIEW TIMELINE:
0:00 Intro
1:40 Macro outlook
14:25 Gold, silver & platinum
25:08 Central banks buying gold
26:15 Market crash
29:10 Pento's relocation
29:50 Pento Portfolio Strategies
31:50 Weekly specials
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