Kitco News, Released on 1/31/25

Markets are on edge as Trump’s 25% tariffs on Canada and Mexico loom, with a potential trade war that could disrupt $1.6 trillion in annual trade. Will this escalate inflation, crush supply chains, and force the Fed to rethink rate cuts? The news changes fast, Trump doubles down on Feb 1 while this interview was being taped. Meanwhile, gold is surging past $2,800, hitting record highs as investors scramble for safe havens. Is this just the beginning of a massive gold rally or a reaction to Trump’s economic policies? David Rosenberg, Chief Economist at Rosenberg Research, joins Kitco News to break it all down—what happens next, how markets will react, and whether these tariffs are just a negotiation tactic or a real game-changer.

00:00 Introduction and Welcome
01:37 Market Reactions and Predictions to Tariffs
05:16 Energy Prices and Potential Tariffs on Oil
05:52 Canada’s Response and Economic Strategies
13:34 Inflation Concerns and the Fed’s Response
29:38 Breaking News: White House Denies Tariff Report
30:18 Trump’s Unpredictable Trade Policies
31:28 Gold: The Ultimate Hedge Against Uncertainty
32:35 Bitcoin vs. Gold: A Conservative Investor’s Perspective
33:53 Breaking News: Gold’s Meteoric Rise
36:47 Global Trade War and Its Implications
39:15 The Debt Bomb: Fiscal Instability and Gold
49:08 Stock Market Bubbles and Concentration Risks
57:06 The Case for Hard Assets and Liquidity
58:24 Conclusion

David Rosenberg is the chief economist & strategist of Rosenberg Research & Associates, an economic consulting firm he established in January 2020. He received both a Bachelor of Arts and Masters of Arts degree in economics from the University of Toronto. Prior to starting his firm, he was Gluskin Sheff’s chief economist & strategist. Mr. Rosenberg was also chief North American economist at Bank of America Merrill Lynch in New York and prior thereto, he was a senior economist at BMO Nesbitt Burns and Bank of Nova Scotia. Mr. Rosenberg previously ranked first in economics in the Brendan Wood International Survey for Canada for seven straight years, was on the US Institutional Investor All American All Star Team for four years, and was ranked second overall in the 2008 survey.

  david rosenberg, economy, gold, investing, tariffs, trade war, Trump