Gold and Silver Market Trends - Gold is on pace for its best year since 1979 [1] - Increased gold prices are causing "sticker shock" for retail jewelry buyers [3] - Pawn shops are maintaining margins by raising prices with the underlying metal costs [4] - There's a shift towards silver jewelry due to gold prices [6] - The speaker advises holding onto gold jewelry, anticipating further price increases [8] - Central banks are buying gold and moving away from US bonds, contributing to de-dollarization [8] Silver Market Dynamics - There's a massive deficit in the amount of silver on the market [6] - Silver production is ancillary to copper and gold mines [7] - There was a 150 million ounce deficit in silver last year [7] Pawn Shop Business - The number of people visiting the store has increased, despite a slight decrease in overall Vegas tourism [10] - The need for people to raise cash at pawn shops is holding steady, indicating a flat economy [13] - Gold and silver bullion sell out quickly [14]

Precious Metals Market - Ddollarization, debasement trade, and diversification are driving the metals market [1][2][3] - Central banks now hold 27% of their reserves in gold, exceeding US Treasury holdings [2][4] - An ETF experienced 110 tons of inflows recently due to the debasement trade [2] - ETFs are an excellent way to invest in precious metals, particularly gold, as investors gain access to physical bars [5] Industrial Metals Market - Copper is experiencing a "perfect storm" due to long-term underinvestment and unexpected demand surges from AI data centers and defense-related needs [6][7] - Copper is considered "the new oil" due to its strategic importance in global electrification [7] - Approximately 500,000 tons of copper supply has been lost due to problems at three major mines [7][8] - Copper prices are near all-time highs, with expectations of further upside [8] - Copper is up nearly 25% year-to-date [6] Crude Oil Market - Crude oil has been under pressure for over a year due to an expected supply glut [9] - The supply glut has not impacted physical markets, with front-end crude oil being backwardated and refining margins near all-time highs [9][10] - Economics suggest that consumers will burn the oil in refineries due to wide refining margins, rather than store it [11] - Despite concerns about a large wave of supply, crude oil prices remain around $65-$66 per barrel [12]