About this episode

Michael Oliver discusses the undervaluation of gold and silver miners and warns of a looming government bond crisis affecting US markets.

Stijn Schmitz welcomes back Michael Oliver from Momentum Structural Analysis MSA to the show. Michael Oliver opens the discussion by highlighting what he considers the most explosive signal in his decades-long career: the historic undervaluation of gold and silver miners relative to gold. He explained that for decades, the XAU index averaged around 25% of the gold price, but this ratio has collapsed and is currently trading near 9%. Oliver pointed to a critical technical breakout occurring in the GDX-to-gold spread, which is moving above a 13-year resistance range. This breakout, he argued, is a powerful signal not just for miners to vastly outperform the metal, but also for an impending dramatic price advance in gold itself, as the spread only rises during precious metals bull runs. The conversation shifted to the broader macroeconomic backdrop, where Oliver identified a “nuclear” government bond crisis as the primary catalyst. He warned that the US Treasury market is far larger than the stock market and is now slipping into quarter-century lows in price, reflecting extreme distrust among investors. Oliver stated that central banks will have no choice but to print…

People in this episode

Host: Stijn Schmitz

Guest: Michael Oliver

Topics covered

• gold and silver market analysis
• macroeconomic trends
• government bond crisis
• investment strategies
• technical analysis

Keywords

• gold
• silver
• government bond crisis
• investment
• technical analysis
• market trends
• XAU
• GDX

Mentioned in this episode

Organizations: Momentum Structural Analysis MSA, US Treasury, GDX, XAU, gold, silver, central banks, stock market, financial sector ETFs

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