Jeff Weniger, Head of Equity Strategy at WisdomTree, joins Kitco News Anchor Jeremy Szafron to break down the extreme volatility in the precious metals market and explain why holding zero percent in gold is a massive portfolio risk. Weniger analyzes the lagged effect of Federal Reserve policy, noting that “Jay Powell gave a gift to precious metals” 19 months ago, and explains why that liquidity is still fueling risk assets today.
The discussion covers the 78 percent surge in Chinese silver imports, the resilience of the consumer against $106 oil, and why the recent breakout in copper signals global economic expansion. Weniger also addresses the safe haven debate, pointing out how “Bitcoin decided to die on the vine during the two s and p selloffs” while physical gold proved its worth as a true portfolio diversifier.
Recorded April 24 2026
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00:00 Metals Volatility Setup
01:08 Silver Swings China Demand
03:08 West vs East Metals Mindset
03:48 Bitcoin vs Gold Diversifier
05:09 ETF Flows Still Zero
06:53 Fed Cuts Lagged Liquidity
10:04 Yields Inflation Policy Path
14:27 Gold Share Portfolio Risk
17:48 Where Allocation Comes From
19:52 Oil Shock Without Recession
26:00 Dr Copper Expansion Signal
26:41 Why Zero Metals Is Mistake
29:58 Closing Thanks Subscribe
#Gold #Silver #PreciousMetals #KitcoNews #Investing #Economy #FederalReserve #Bitcoin #Commodities #Macroeconomics #WealthManagement
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32 Comments
Stay the course and buy the dips🎉
I bailed when i heard 60 + 40 = 105. Thats a sales pitch im so sick of hearing, and beneath Kitco's usual high standards.
West civilization is best??? WTF he is talking about.
Metals finished looking for low
Bitcoin is the sleeper play here. Quietly the best performing asset other than oil since start of the war. Now that gold is stuck in the mud, that is the cue for bitcoin to rally as all the governments print into the energy/ private credit crisis, grew a Portfolio of around $248k in the space of a few months not from luck, but from the right approach and consistency.
I had no clue who Jeff was before today, but really glad that you had him on. His enthusiasm was great, and it was genuinely fun watching the vibe between him and Jeremy. Lots of good perspective from the relative mainstream of the finance sector, which we commodities nerds "sometimes" don't get. Looking forward to seeing him here again.
i had heard money supply was up 8% year to date
goldfish is right
60% of my investable assets are in gold and silver, 20% real estate and 20% cash
Where do I go to take the exam on the hydrated water lecture.
I didn't hear anything about demand destruction caused by $ debasement.
Yields are definitely going up. I know this because all of a sudden the banks are cold-calling me asking if I want to "lock in these high rates on CDs". I haven't heard from them in years, while the Fed was playing their ZIRP games, but now they're calling. Oh yes, interest rates are going to the moon. It seems like most of the banksters calling are pushing 3-5 year CDs. FWIW..
0:40 I am going to pretend the "press the reset button.." could be a rad nes throwback!
kitco & j.s never fails to deliver!
Thanks Gents ✌🏼🔥
Good interview Jeremy 👍🏻
Wisdomtree!!! 🫡
👍🏾👍🏾👍🏾🌟
I don't know if Jeff does or doesn't…. but he LOOKS like a guy with a hairpiece, teeth veneers and a chin implant.
The problem remains that cosmetic surgeons have nothing to fix a jumbo-sized head.
Oh well…
.
Folks are waiting for the price to roll-over
This guy has a hard time answering anything. All over the place, never finishes a thought.
I've got about 15% in gold/silver mining stocks and metal ETF's but I bought most of it after the Fed hiked rates so I got in on a dip. I wonder if a lot of institutional managers just look at it as being too late in the cycle and don't want to risk buying at such high levels. The last time I bought into gold/silver was the April 2025 downturn. Unless we get another dip like that I'm just holding as I'm happy with my position.
Great job gentlemen. Very enlightening.
❤❤❤❤
you know this guy is a yankee because he talks with his bottom teeth showing
They are rather use the money to buy S&P500, good luck to them.
The market is just acting stupid now. Near all-time highs when America is in a trade war with most of the developed world, for the first time in history gasoline spiked over $1 per gallon in just 4 weeks time, planting season is here and there isn't any fertilizer, the Strait of Hormuz is still closed with no sign of it opening back up anytime soon, the private credit industry is imploding as we speak, and the labor market is on very shaky ground with the healthcare being the only sector that is expanding its workforce. The market should be down 20% by now on its way to 30%. But before you all roast me, let me state that I don't play the short side. The reason I don't like this is because whenever markets become this detached from *reality*, it pretty much always ends in a disastrous crash. And, that's only going to make things worse for most people…managed to grow a nest egg of around 100k to a decent 932k in the space of a few months. Thanks again, Adriana Mcgrath , for the regular updates,
People worry that they buy at high prices then government takes it away from you because your country is failing because of overspending government history repeating itself
nice shirt!
the problem is that many analysts and media had not paid attention that oil and precious metals markets are divided into 2, one is the futures and the other is physical. Moreover the U.S. government and wall street in cooperation to create an economic atmosphere that all is well. This is mollifying public opinion that inflation and recession pressures are
not a problem at all . But this scenario will change by End May if there’s no meaningful peace treaty signed and that Oil trades above usd 150/- in the spot physical market . All hell will break loose on global economies and U.S. domestic government with widespread demonstrations and public unrests
Monday to Thursday 4600 to 4850 per ounce but good news and Donal trump president statement then new record kitco news plz help me brothers sisters Allah bless u all europe media all world people Aamien ♥️
But next time inshaallah 5900 per ounce
My portfolio actually has a significant position in both gold and silver. However, I don’t think of it as an investment but as insurance. I don’t expect to get rich with metals. I do think that my insurance carrier doesn’t have any counter-party risk and I don’t check the price of gold every day.
So good to have jeramy back I’ve missed seeing him on this channel