In this presentation, Jeffrey Christian of the CPM Group discusses the volatility in the gold and silver markets in recent trading days, where gold rose by more than $150 and silver by $10, before slightly retracing.
Jeff explains how these movements fit into the consolidation phase that has been ongoing since mid-October and why the CPM Group continues to expect increased volatility in the near future, before higher prices are expected in 2026.
He also addresses the “Renaissance of Gold” predicted by the CPM Group more than 25 years ago, which was triggered by the changing attitude of investors towards gold. Jeff discusses the longer-term factors that continue to drive rising prices, including investment demand, central bank activities, and general economic and political risks.
00:00 – Overview of gold and silver volatility
01:05 – Review of the CPM Group’s 2000 thesis on the “Renaissance of Gold”
03:07 – Long-term changes in investor demand
06:57 – Structural changes in gold ownership
08:06 – Short-term outlook for gold and consolidation
10:19 – The rapid rise and fall of the silver price
12:45 – The dynamics of platinum and palladium
15:57 – Economic, political, and long-term price outlook
