Peter Boockvar: Gold and Silver Ripping in the Face of Higher Yields, Stronger Dollar

ITM Trading, Released on 4/19/24

In discussing the price of gold, Peter Boockvar, Chief Investment Officer at Bleakley Advisory Group, predicts, “I think $5,000 is becoming more realistic, and on a parabolic mania overshoot $10,000.” In an interview with Daniela Cambone, Boockvar explores factors driving the rally in precious metals, suggesting that the renewed interest in them “is payback of lack of investment with supply-demand balance happening now in commodities.” He further examines the intricate connections between the Japanese yen, the surge in oil prices, and 10-year treasuries. As the yen weakens, they sell U.S. treasuries to finance oil imports, leading to a tight coordination between the Japanese yen, oil prices, and U.S. treasuries.

00:00 Gold/silver
5:02 Retail investors interested in gold in North America
7:20 Commodity investment vs tech investment
10:12 Gold price
13:26 Silver
15:43 10-year yield and US dollar
20:06 Powell’s rate policy for the world
22:18 Mixed global economy growth
23:41 Concluding words

Peter Boockvar is the Chief Investment Officer of Bleakley Financial Group and Editor of The Boock Report newsletter

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