“Gold at $7,000 and silver at $100,” predicts Frank Holmes, CEO of U.S. Global Investors and one of the first to call $4,000 gold back in 2020—a forecast now nearly fulfilled with gold already surging past $3,700. Holmes warns that ballooning global debt, record-breaking military spending, and a Federal Reserve trapped in a policy bind are setting the stage for an explosive metals rally. Holmes points to a world fracturing under cyberattacks, escalating conflicts, and a new era of “sovereign data” and protectionism, where hard assets become the ultimate defense against currency devaluation.
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43 Comments
If gold hits $7k it will be surprising if silver stays at $100 that’s still a 70:1 GSR when many others are suggesting it should be at 15 or 20 to 1
$100 silver? 🤣🤣🤣🤣🤣 Try a lot higher
You didn’t have the guts to mention Israel as villain 😮
The Prelude: A Structural Silver Shortage Emerges
The Market Reality: Physical Supply Versus Paper Demand
The silver market today is dominated by a stark imbalance between physical supply and paper market claims. The so-called paper-to-physical silver ratio is estimated between 250:1 and 400:1, meaning hundreds of ounces of paper silver contracts exist for every ounce of physical silver available. This ratio dwarfs gold’s roughly 100:1 ratio, underscoring silver’s unique vulnerability to physical supply shocks.
The consecutive supply deficits over recent years—driven by strong industrial demand, especially in renewable energy sectors like photovoltaics—have chipped away at global inventories. Simultaneously, silver held in London Metal Exchange vaults—the physical market lynchpin—has declined by around 40% since 2021. Free-floating metal available for immediate delivery has shrunk to the equivalent of just six weeks of global industrial and investment demand. Lease rates for silver have skyrocketed to upwards of 35% annually, compared with typical rates near zero, highlighting acute scarcity for borrowing metal.
China’s Role: A Strategic Shift to Internalize Silver Supply
China, contributing approximately 13% of global silver demand, has played a pivotal role in both mitigating and intensifying this shortage. Historically, Chinese refiners and smelters supplied substantial physical silver flows into international markets, particularly London—flow that helped alleviate supply bottlenecks.
However, since late 2024 and accelerating through 2025, China imposed strict export licensing requirements specifically targeting silver bullion exports. While not an explicit outright export ban, these new administrative controls have effectively choked off Chinese silver shipments abroad. Chinese smelters are prioritizing internal consumption, a response to booming domestic industrial demand from rapidly growing industries such as solar panel manufacturing, electronics, and medical device production.
These licensing restrictions are arduous, with application deadlines and long processing times combined with informal policy pressures to favor domestic buyers. Market analysts widely acknowledge this as a de facto halt on physical silver bullion exports from China, removing a vital market relief valve and reinforcing the global supply crunch.
US and Global Context: Strategic Resilience and Fragility
The United States and other Western economies are heavily reliant on refined silver from China and other producers for industrial use and investment demand. Attempts to ramp up domestic production face logistical and economic challenges, and supply chains remain tightly interwoven internationally.
The silver shortage triggered historic price spikes in 2025, with spot prices reaching near $50 per troy ounce, accompanied by exceptional premiums in physical markets. London spot silver commands premiums as much as several dollars per ounce over futures contracts; retail dealers struggle with depleting inventories and extended delivery wait times.
Governmental and regulatory measures, such as the imposition of circuit breakers in commodity markets, sophisticated margin systems on futures exchanges, and cash settlement fallback clauses, mitigate total systemic failure risks but do not resolve fundamental supply constraints.
The Investor’s Journey: From a Single Maple Leaf Coin to Substantial Wealth
The Iconic Royal Canadian Mint Silver Maple Leaf
Introduced in 1988, the Royal Canadian Mint Silver Maple Leaf coin has emerged as one of the world’s most trusted bullion coins. The coin is explicitly guaranteed by the Royal Canadian Mint on behalf of the Government of Canada as legal tender with a nominal face value of $5 CAD. It contains precisely 1.003 troy ounces of .9999 fine silver, renowned for its purity.
Its advanced security features—radial micro-engraved lines, mintshield tarnish-resistant coatings, and microscopic details—render counterfeiting nearly impossible. Dealers worldwide recognize the Maple Leaf’s specifications by feel, sound, and verification technologies, supporting its seamless use as a medium for buying, selling, or bartering.
Buying One Coin in 2020: The Humble Beginning
Imagine a person who walked into a coin shop in 2020 and purchased a single .9999 fine silver Maple Leaf coin when silver spot prices hovered around $26.39 per ounce, paying a slight 4% premium for retail purchase, roughly $18.00 cost basis. At the time, this was a practical purchase combining a tangible store of value with government guarantee and portability.
Frank stick to metals as your political views are typical American BS. Even as a New Zealander living in this corrupt place down under I can tell. Putin is the king.
Dumb blondiii
What a misinformed person about his geopoliticals. He must be watching CNN.
He needs to watch Scott Ritter, Simon Hunt and Alex Krainer
Such a disappointment this geopolitical view is sad. Thank you to US mess media and education. To help American forward these are the clown you should not invite
Bogey man 😂coming
Really interesting 👍👍
It just hit $4,000
Anyone can guess or speculate …
$5000 December 2026
$6000 December 2027
$7000 December 2028
No one knows only time will tell …
Prepare since 2023. When history is written 2023 will be just at the start of the tipping point. All of the signs were there but people were not paying attention. People were distracted by the thought that the good times will continue and continue forever. Well when playing the chair game the one who wins is the one with a chair to sit down. The same with gold and silver. People who has significant gold, silver and crypto will be better off than stocks and bonds. I have waited since 2017 for my precious metal mutual fund to go up. In 2025 gold and silver and crypto has gone crazy in valuation which shows us that we're heading for off the cliff moment. Don't be a lemming following other lemmings of a cliff. FOMO will cause panic buying causing massive losses which is transferring to other hands. Money is neither created or destroyed but only transferred from one hand to another when the market conditions are right. These is no substitute for physical gold and silver although a small modest investment in the right crypto can yield massive returns. Take care. Be safe.
Daniella this guy is the worst moron in your shoes
This guy is walking on his head
The United States is a democracy that destroys other countries and millions of lives while China builds roads, bridges, and ports all over the world.
Extraordinary detail ! Super helpful !! I learned lots !!!
Thank you .
3.900 today
People are hoarding pennies ? For the zinc ? WTF is he talking about ?
This guy is an absolute idiot on his understanding of geopolitics. Where does he even get his info? CNN? Clown.
Balme others for the failures of the West …
7000usd per ounce in 2028 is just a "safe" prediction. No need professionals analyst to predict that. Too easy to reach that target. Thats why i said his analysis simply cheap and unimportant.
Another idiot commentator
NIO is flying – short interest is just getting started 😅.
My left ear heard everything…
🙏👍🇨🇵 Merci chère amie et merci à votre invité, continuez ✨
the 5 Evils are Nazi Israhell, USA, GB, Ukraine and France/Germany. this guy spouts some shite
In the year 2525… if the dollar is still alive 🎵
You are completely wrong and need to get your facts right on Russia.
Was it not about the price of gold and silver?
Now you are jumping on the Russia war bandwagon.
Russia wanting to invade Poland, where did you get that from. You are brainwashed and listen to the wrong people.
The whole thing this war started is that first Ukraine was prior part of Russia, then with the perestroika Ukraine become independent from Russia, east of Ukraine are ordinary Russian speaking people that have been terrorised by neonazis and Azov killing those Russian speaking people. That's why Puting had to take action.
Not because of using this humanitarian actions to invade Poland.
I pray for all those that have lost their lives for a war that can't be won.
NATO is making a big mistake by preparing for war with Russia.
It will be a blood bath.
Is that why Europeans need to prepare for war and get emergency kits ready incase they get pounded in case NATO triggers a response from Russia.
Since 2014 Europe has been building up weapons on and nearby Russian borders. So called exercises.
I have seen the train loads of weapons entering via Romania.
One good advice, back off and mind your own business.
Europe has enough problems them selfs.
I think we reach 7000 in 2 years
Only dumb people believe that the Nazi America is a democracy. And also dumb people say Russia is invading Ukraine and didn't talk about that the Nazi tried to invade Russia via Donbass. This guy is so uneducated.
I appreciate the ITM shows greatly, but bringing in a political a$Shole like Frank Holmes, is simply too much. Therefore, I stopped watching this nonsense, just 4 minutes into your video!
Not true
Racist rapport
Sometime in 2026 we could actually see $80-$120 because of the 5-year deficit and continued Silver demand in various industries. In fact, Silver has been supressed for years, and true price discovery, I've been told, has been lost. So this is just my speculation, but if enough big money enters this very thin market, then my estimate might even be conservative.
You lie, fake democracy, fake human rights !
This guy lost me in 2 minutes… all this twirling mustache bond villain Putin is getting soooo tiresome, specially for us outside the US media and propaganda bubble. Keep your myopic jingoism at the door. Yeah yeah, Putin is flooding Europe… oh brother…
By the way, saying gold was going to hit $4000 5 years in advance… let me make my own… Gold will hit $20,000 in the future… someday. It's been a while since I have thumbed down a video…
Don't forget. The IRS requires you to report your capital gains/losses on ALL gold and silver and other precious metal sales and barters.
Don't forget. States are now operating or planning to release soon, State Comptroller's Office run/managed Bullion Repositories for you to deposit your precious metals into a "Pooled Account" tied to a debit card issued to you, so that the State can handle the selling off of your assets for you at point-of-sale. FIFO (First in, First out) accounting method for Capital Gains reporting to the IRS with Cost Basis the value at date of the metals purchase. You must keep accurate records. Suggestion: Make deposits in the order you purchased the metals, so that the FIFO of the Deposit (oldest deposit sold off first) matches your own FIFO (oldest purchases sold off first). For record keeping, convert everything to pure silver ounces or pure gold ounces, regardless of metal purity. Also, Silver and Gold Capital Gains are reported to the IRS separately. Note: you should be able to designate at point-of-sale if you want Silver or Gold holdings in your Pooled Account to be fractionally sold off to pay for your purchase with the card. So you can use this to your advantage if gold is dropping in price or silver is dropping in price at your debit card point-of-sale date/time of use.
Keep track of the date of all your purchases of gold and silver, your cost (including fees), purity of the metal converted to pure gold/silver ounces/grams.
NOTE: It is not a forgone conclusion that any State run Repository for bullion will allow gold and silver deposits into a pooled account tied to a debit card that have 35%, 40%, 80%, 90% purities. A requirement may be that deposits must be at least .999 fine or finer for both gold and silver?
What if my State does not have a bullion repository? You can use the one in Texas and open an account online and mail your deposits in.
The debit card works anywhere in the world just like any other debit card tied to a bank account.
DID YOU KNOW? That gold and silver used in barter also triggers a Capital Gains event that must be reported to the IRS. Pay for a car with gold? What is the difference in your purchase price for that gold and the purchase price of the vehicle you paid for with that gold. Gold bought for $400. Car purchase $4000 with that Gold. $4000-$400 = $3600 Capital Gains taxed at 28%.
Nailed it bud I'm 70 and watching. lol
Gold may God for five thousand dollars by the end of this year.
Well I hope he’s right. That would be very nice. We got into metals in 2019.
They took an image with the former president Michel Temer from Brazil, Lula is more towards to BRICS than Temer.
Ketchup at the grocery store $6 to 8 dollars. $4 gas. I remember the sticker "I Did This!" for Biden. Maybe time for a Trump "I Did This!"
Stop the BS