Kitco News, Released on 12/17/24

Gold hit 40 record highs in 2024, and silver is poised for one of the biggest breakout opportunities heading into 2025. In an interview with Kitco News, Tavi Costa, Partner and Macro Strategist at Crescat Capital, warns that the U.S. dollar is nearing a critical turning point amid unsustainable fiscal spending and rising debt costs. Costa explains how these macroeconomic pressures could spark a rally in hard assets like gold and silver, and why $4,000 gold and $40 silver might only be the beginning. Costa also breaks down key risks for 2025, including inflationary pressures, shifts in U.S. equity dominance, and geopolitical threats. He outlines why silver’s technical setup makes it one of the most compelling macro plays and highlights the growing opportunity in emerging markets. Will gold and silver lead the charge as investors hedge against economic volatility? Costa provides his outlook, top predictions, and critical factors to watch in 2025.

00:00 Introduction
00:47 Historical Cycles of the U.S. Dollar
02:26 Impact on Global Markets
05:31 Fiscal Policies and Dollar Depreciation
08:59 Investment Implications
09:43 Global Equity Market Trends
16:00 U.S. Fiscal Spending and Interest Rates
21:13 Market Sentiment and Future Trends
25:18 Inflation and Commodity Outlook
26:06 Commodities Bull Market and Inflation Dynamics
27:51 Interest Rates and Inflation Projections
29:48 Silver Market Analysis and 2025 Outlook
38:37 Gold Market Insights and Mining Industry Trends
43:47 Top Predictions for 2025
45:59 Federal Reserve’s Role and Economic Outlook
48:24 Conclusion

Tavi Costa is a partner and portfolio manager at Crescat Capital and has been with the firm since 2013. He built Crescat’s macro model that identifies the current stage of the US economic cycle through a combination of 16 factors. His research has been featured in financial publications such as Bloomberg, The Wall Street Journal, CCN, Financial Post, The Globe and Mail, Real Vision, Reuters. Tavi is a native of São Paulo, Brazil and is fluent in Portuguese, Spanish, and English. Before joining Crescat, he worked with the underwriting of financial products and in international business at Braservice, a large logistics company in Brazil. Tavi graduated cum laude from Lindenwood University in St. Louis with a B.A. degree in Business Administration with an emphasis in finance and a minor in Spanish. Tavi played NCAA Division 1 tennis for Liberty University.

  gold, investing, market crash, silver, stocks, tavi costa