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00:00 Speaker A
And as what’s also still there is gold prices. I mean, they have while the dip buyers come back to markets, you’re not seeing this massive gold sell off.
00:08 Speaker B
No, look, I mean, gold is knocking on the door of 5,000. We’re about $50 off in the gold futures, uh, right now. We saw that silver touched $100 per ounce. By the way, 5,000 for gold, this was supposed to happen at the end of the year. We are in the third week of January and this is already happening. This is a debasement trade that is on fire. It didn’t help this week that you saw the Danish Pension Fund saying that they were going to sell US Treasuries. You see Northern European funds that are saying they’re going to reassess their US assets. You saw India that now has the lowest amount of US Treasuries in five years. So is there is this backdrop, uh, behind this entire gold theme. And now you’re seeing also private investors at Goldman Sachs is saying they’re not going to be selling in 2026. private investors that are also getting in on this gold rally because they are seeing the debasing the debasement of the currency of the US dollar.
01:13 Speaker A
Stephanie, gold is often seen as a safe haven. You and I know that, but given how far it has run the past year, the past six months, the past month for that matter, should gold still be viewed as that safe haven asset or are we in an a, I would say a gold bubble that’s going to end badly soon, especially if these dip buyers continue to come back into the market.
01:43 Stephanie
Not to give you a boring answer, but I kind of feel like we’re in the middle between those two things. It’s certainly gone past a safe haven asset in my opinion. It’s become speculative and it certainly has a lot of momentum behind it. But I’m not sure we’re in a bubble yet because also it is a commodity that has supply and demand and the supply is not as high as like a metal like silver. So, um I think silver’s been in vogue because it’s it’s much cheaper to buy. Um and we’ve certainly seen our own customers investing in silver over the last, you know, few weeks. Um but it I I think it’s something that people are going to buy and hold on to and bear out any volatility because they are holding it for a different reason necessarily than, you know, just a pure investment.