Asking about currency market dynamics and dollar trends for the year
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speaker2
Dismisses de-dollarization talk as exaggerated but believes weaker dollar/bearish dollar trade is here to stay due to pro-cyclical phase, global growth trends, and Fed on hold
Highlights dramatic chart of gold vs dollar over past year, calling it the 'debasement trade'
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speaker3
Reports optimism about US economy from Miami business conference, with expectations for increased credit demand
Asks if gold is overbought at $5,500/oz
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speaker5
Gold and silver have been eye-popping trades, hard to separate currency debasement vs investor demand vs price momentum
Notes momentum in precious metals but not in cryptocurrencies, asks about rotation
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speaker5
Crypto has been disappointing despite tailwinds, still recovering from October deleveraging and Greenland surprise
speaker2
Half percentage point increase in gold allocations by private investors means gold at $6,000; 3% to 4.5% allocation could mean gold at $8,000 over next couple years
speaker3
Industrial metal demand also increasing - copper, zinc - partly due to data center and electricity needs