While the White House launches “Project Vault” and the Treasury talks down gold prices as a “speculative blow off,” major banks are quietly raising their targets to record highs. John Feneck of Feneck Consulting joins Jeremy Szafron to expose the massive disconnect between Washington’s rhetoric and Wall Street’s bets.
Feneck breaks down the “insane” 100% price explosion in Tungsten following China’s export ban on January 1st, 2026. He identifies the specific US defense stocks poised to benefit from this critical shortage and explains why the recent 29% “flush” in Silver was a margin-driven gift for smart investors.
Recorded on February 9, 2026
Follow Jeremy Szafron on X: @JeremySzafron (
Follow Kitco News on Twitter: @KitcoNewsNOW (
Follow John Feneck on Twitter: @FeneckConsult (
IN THIS INTERVIEW:
-The Narrative War: Why Treasury Secretary Bessent calls gold a “bubble” while JP Morgan and Goldman Sachs target $6,000.
-The Tungsten Crisis: How China’s export ban triggered a doubling of prices in just 90 days.
-Stock Picks: Specific buy ratings for Guardian Metal, American Tungsten, Paramount Gold, and Power Nickel.
-Silver Volatility: Why the “brutal” Jan 30th crash was a buying opportunity, not a sell signal.
CHAPTERS:
0:00 – Intro: Project Vault vs. The Banks
1:02 – Bessent Calls Gold a “Bubble” (But JPM Says $6,000)
2:45 – The Silver “Liquidated”: Why It Crashed 29%
3:50 – “We Are Just PAs”: Manipulation & The Banks
5:50 – THE TUNGSTEN EXPLOSION: China’s Export Ban Explained
7:20 – Top Defense Stock Picks: Guardian, American Tungsten & Spartan
9:30 – Paramount Gold: Buying The Oregon Permit News
13:10 – Highlander Silver & Bear Creek: The Bull Case
15:40 – Hecla Mining & The Major Silver Producers
18:50 – Copper Strategy: Why Power Nickel is a “Rifle Shot”
20:55 – Macro Outlook: “Terrible” Payrolls & The Fed
22:15 – “This Is Not A Casino”: Buying The Flush Strategy
#Gold #Silver #Tungsten #MiningStocks #JohnFeneck #CommodityWar #ChinaBan #Economy #Investing #KitcoNews
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43 Comments
So much fake gold and silver coming out of China because of Tungsten.
As well as being the biggest Gold Miner in the world, Newmont is also 12th largest silver producer in the world. Copper is another spin off. A great company, that completed restructuring and refinement of its Tier 1 Gold mines last year. I've been trading Newmont over the last 2.5 years. Its been great!
3 gems : USAS , NFGC , IAUX
Why leave out of the conversation automatic trade stops by the exchange. I am studious of the markets and have seen, as many others also have, trade suspension for 10 to 15 percent drops; in Silver's case over 30% did not trigger it. WHY?
THIS GUY IS TERRIFIC! Should be on a major network, is there any left?
THANKS 4 THE NAMES
Tungsten may be a replacement of investment gold 😂.
THANKS Jeremy, for your most exc. intweviews. Your questions & direction is always Spot on! We are lucky to have you. Retired in CT.
"BSX & CGNT" aaaah
The Grandfather of Larry "Blackrock" Fink, was the President of the AMERICAN COMMUNIST PARTY. wha???
Tungsten is also used to make fake gold bars because of its weight being close to the weight of gold. Fake gold bars may be in high demand nowadays
Doller is being burnt 🔥 by entire world owing to Trump Policy.
Trump seized Russian Assets and World Awaken that America is no more Trusted Nation.
Trump urgently need to stop Threatening World leader to accept doller & get Incentives by USA in return.
This guy makes me want to buy silver.
Treasures are the BUBBLE.
Gold don't lead anything but paper money silver is it's own metal its everything like copper Gold dose nothing
Gold & silver will be vaporised
Not Rusia not China Not USA
Is the Devils
Yes, come together against these narcissist greedy crazy arrogant leaders
Also robber , war criminal
These leaders don't care of the welfare of their own people
Happenings & corruption in their own back yard
Slow painful death to his people , material shortage mental suffering, break family, hunger , social unrest 🙏❤️✌️
But use all their power to rob others & even his own people🙏
These devils are starting WW3
Remove these devils before
Everyone will be radiated
Everything will be destroyed
🌎🌍🌏🙏🙏🙏
I am 76 years old. I passed the broker Series 7 exam in 1/1973.
The dollar is a piece of paper.
People accept it as worth something… not because it’s worth anything but because the our country backs it up.
It’s reached the point where that’s impossible. IMPOSSIBLE. Accept it and change your mindset.
Start backing up your retirement plans with real assets. Not green toilet paper.
That’s what the critical mineral conference on February 4th was about‼️
Since then I have noticed an immediate reduction in volatility of the elements on the periodic table.
The conference helped immensely because it is the beginning of an outline that the USA and our allies can follow. A strategy.
That conference may have stopped a headlong march to WW3. 🙏 Praise God.
Do you remember when Donald Trump said, “Drill baby drill.”?
This conference was about setting mineral prices high enough and keeping them high enough that our miners and entrepreneurs can feel safe about pouring money into the mining industry.
“Mine baby mine‼️❤️”
Nuts 🥜 bananas 🍌 = Rick Rule: “If You Save in Gold, Everything Gets Cheaper”
This guy….. I just…. So much wrong to unpack, the lies and dodging questions. Jesus.
If your still buying paper comic’s,
Then you are probably in your ma’s cellar,
On a xbox, and dont get out much,
The comic’s, is about to get exposed, more fraud, then 911, burning paper etf, found on the burning building, with dancing *ew’s,
Paper fraud, is so old, it was written in the holy book, with the coin clippers,
Gold, silver, copper, lead,
Is mentioned in the holy book,
But those running the comics,
You are also in the book of holy’s,
Revelation 3:9/2:9
Its all corrupt , what's new!
Go ask a person in the mining industry if the metals are bullish or not…………………
14:29 since castillo got jail so basically we got our mole their now , no wonder people immigrante towards the USA you are extracting their minerals
silver went to $76, can it still go to $50 before it goes to $500, how ,low silver can go and still in bull market trend?
50 dollars was all time high 1980 ,u are not calculating 45 years inflation? Your assumptions far from reality🙏
Piste audio please, en français 🙏💝
Can you bring experts for European stock exchange markets?
Tungsten -Eurobattery minerals Corp. 🎉 Good to hear that about tungsten. My portfolio appreciates it😊
Never believe politicians and banksters!
Nice video!! Thank you so much!!Chile is a very rich geological source ( Metallic and Non-metallic resources)!!!We have Tungsten too!!"They say Chelita " here!!!!
Brilliant man 💫✨
Great interview, wow, this is excellent work. two thumbs up.
Bessant's comments are very interesting indeed.
John Feneck is always ahead of the game, he is by far the most knowledgeable in this sector
the typical stock frontrunning here … hahaha
If you start believing anything that trumpet n his cronies say, the world is already heaven.
They moved JPM to Singapore so they can short the metals market in the east. They have to control the physical gold and silver price as high prices are killing the USD and USA treasuries no one wants them with high gold and silver prices.
More gmet
Gmet
Unless I have been dreaming, the CME is turning into a crypto market . There may not be any paper to start a fire.
This guy are so full of crap.
Floor price doesn’t mean lower price. It means a purchase guarantee from state at a predetermined price. If the seller can sell at a higher price in the open market he will, otherwise state will buy it
The Comex is a crime scene