In the final Pod of Gold episode for 2024, Nicholas Frappell, Global Head of Institutional Markets at ABC Refinery, unpacks a tumultuous year for the gold market and provides a look ahead to 2025. Exploring the latest market movements, including the impact of the proposed Trump tariffs on gold and silver imports, recent shifts in gold’s forward curve, and key technical price levels for the metal.

Frappell offers insights into geopolitical developments, from the fall of the Assad regime in Syria to China’s pivot toward fiscal expansion. The discussion also touches on managed money positioning, ETF outflows, and how these factors are shaping the gold market as we close out the year. With forecasts for gold’s targets in 2025 and a recap of pivotal moments from the past year, this episode is packed with expert analysis to wrap up 2024.

PODCAST INFO:

• ABC Refinery website: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.abcrefinery.com/podcast⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

• Nick Frappell: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/nick_frappell⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

• Shae Russell: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/shaearussell⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

OUTLINE: Here's the timestamps for the episode. On some podcast players you should be able to click the timestamp to jump to that time.

Timestamps:

• (0:00) – Introduction and Gold Market Overview

• (1:00) – Impact of Trump’s Proposed Tariffs on Gold and Silver Imports

• (5:15) – Managed Money Positioning and ETF Trends

• (7:06) – Gold’s Technical Levels and Ichimoku Cloud Analysis

• (9:00) – Gold’s Targets on Point and Figure

• (10:30) – Geopolitical Update: Syria and Middle Eastern Uncertainty

• (12:09) – China’s Fiscal Expansion and Its Global Implications

• (14:08) – Key Takeaways for Gold Investors in 2025

Special Announcement:

We’ll be back with fresh episodes in late January 2025, featuring deep dives into market positioning, geopolitical trends, and new gold forecasts. Until then, we wish all our listeners a joyful holiday season and a prosperous New Year!

Don’t miss this insightful wrap-up of the year in gold!

In this episode of The Pod of Gold, Nicholas Frappell, Global Head of Institutional Markets at ABC Refinery discusses the recent "Trump bump" and gold's subdued trading behavior. Dive into managed money positioning and technical analysis using the Ichimoku Cloud, exploring what the charts indicate for gold's future, including the potential for a move beyond $2,700.

The discussion shifts to the geopolitical landscape, providing unique insights into Middle Eastern tensions and the renewed prominence of the Assad regime in Syria. As the year winds down, we reflect on key takeaways for gold investors, including the dangers of fixation on specific price targets like $3,000 per ounce.

PODCAST INFO:

• ABC Refinery website: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.abcrefinery.com/podcast⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

• Nick Frappell: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/nick_frappell⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

• Shae Russell: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/shaearussell⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

OUTLINE: Here's the timestamps for the episode. On some podcast players you should be able to click the timestamp to jump to that time.

Timestamps:

• (0:00) – Introduction and Overview

• (1:24) – Recap of recent gold moves

• (3:34) – Managed Money Positioning

• (7:17) – Gold Targets

• (8:54) – $3,000 for gold?

• (10:08) – Global tensions on the precious metals price

• (15:28) – Key takeaways

In this special episode of The Pod of Gold, recorded live at IMARC Sydney 2024 Nicholas Frappell, Global Head of Institutional Markets at ABC Refinery dives into key predictions, including his previous forecast for gold’s climb to $2,780, which has now come to fruition.

Frappell examines new price targets for gold, including technical levels of $2,808 and a more distant possibility of $3,500.

Plus, the hot topic of de-dollarization and discuss how China’s economic structure shapes its dollar dependence.

PODCAST INFO:

• ABC Refinery website: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.abcrefinery.com/podcast⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠
• Nick Frappell: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/nick_frappell⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠
• Shae Russell: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/shaearussell⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

OUTLINE: Here's the timestamps for the episode. On some podcast players you should be able to click the timestamp to jump to that time.

Timestamps:

• (0:00) – Introduction and Overview
• (0:30) – Revisiting Last Year’s Predictions and Gold’s Climb to $2,780
• (1:49) – New Price Targets: $2,809 and Long-Term Outlook
• (3:22) – U.S. Elections and Their Impact on Market Volatility
• (4:29) – Central Bank Buying Trends and Insights from UK Gold Exports
• (6:48) – China’s Economic Slowdown: Impact on Global Gold Demand
• (10:09) – The De-Dollarization Debate and Future of Reserve Currencies
• (16:45) - Geopolitical Risk in the Middle East and Its Influence on Gold
• (22:27) – Closing Remarks and Preview of Election Insights