The Pod of Gold

In the 70th episode of The Pod of Gold, Nicholas Frappell, Global Head of Institutional Markets at ABC Refinery, analyses the factors driving gold's performance, including the impact of the "Big Beautiful Bill" on US debt and inflationary pressures. Frappell also examines how re-emergent tariffs are affecting the physical gold market, and what current managed money and ETF positioning reveals about investor sentiment.📆 Recorded on Tuesday 15th July 2025, this episode explores:The effect of US debt and news flow on gold prices.The impact of tariffs on global trade, growth, and the physical gold market.An in-depth look at gold inventory holdings in London and COMEX depositories.Analysis of current managed money and ETF positioning in the gold market.🕒 Timestamps:(0:00) – Introduction(0:56) – Driving factors for gold prices(3:58) – The physical gold market and re-emergent tariffs(9:27) – Managed money and ETF positioning(11:34) – Gold price targets(14:58) – Is the US Dollar weak or strong?(16:55) – How weak Chinese demand will impact us(19:28) – Key takeaways🎧Special Offer for Pod of Gold ListenersABC Bullion Precious Metals Forum 2025 presents, Gold and The New World Order.Bringing together global leaders in the precious metals industry to share insights on the current landscape and future opportunities.With ABC Bullion's General Manager, Jordan Eliseo, as the Master of Ceremonies for the evening, there's also a great line-up of speakers set to include:Jim Rickards: Investment banker, lawyer, economist, New York Times best-selling author and globally renowned precious metal expertNicholas Frappell: Global Head of Institutional Markets at ABC RefineryWayne Bramwell: CEO at Westgold Resources (ASX:WGC)Pod of Gold listeners can get a 20% discount on tickets by using the code PODOFGOLD at checkout. Click here for details.🔗 More Resources:Visit: https://www.abcrefinery.com/podcastFollow Nick Frappell: https://twitter.com/nick_frappellFollow Shae Russell: https://twitter.com/shaearussell

In this episode of The Pod of Gold, Nicholas Frappell, Global Head of Institutional Markets at ABC Refinery, analyses the persistent strength in gold despite recent volatility and what market signals are saying about the months ahead.📆 Recorded on Tuesday 3rd June 2025, this episode explores:Why the gold price trend remains intact despite recent pullbacksGlobal political risks and shifting perceptions of trade negotiationsHow gold ETFs are benefiting from futures market inefficienciesEvolving market sentiment around US tariffs and inflation risksKey technical levels in gold using Ichimoku Cloud analysis📈 Frappell also examines:Gold and silver managed money positioningThe impact of trade policy on short-term inflation expectationsU.S. debt issuance risks and the signal from rising Japanese bond yieldsThe outlook for the US dollar into the second half of 2025What current Fed commentary is (and isn’t) pricing in🕒 Timestamps:(0:00) – Welcome and what’s driving the gold rally?(3:55) – Physical gold flows and Asian market dynamics(5:41) – Managed money positioning & gold ETFs(7:32) – Technical analysis: Key Ichimoku support/resistance levels(9:04) – Fed policy, inflation risk & bond yields(12:53) – US dollar outlook for the rest of 2025(15:27) – Summary: Key takeaways from today’s market📥 Key Takeaway:Gold's bullish structure remains intact. With inflation fears, tariff risk, and a softer USD on the horizon, gold may have more room to run — especially if market complacency is disrupted.🎧 Don’t forget to subscribe for the next episode, where Nick will break down China’s property market and its implications for gold and global trade.🔗 More Resources:Visit: https://www.abcrefinery.com/podcastFollow Nick Frappell: https://twitter.com/nick_frappellFollow Shae Russell: https://twitter.com/shaearussell—---------------

In this episode of The Pod of Gold, Nicholas Frappell, Global Head of Institutional Markets at ABC Refinery, analyses the Fed's statements after their March meeting and the factors driving the recent surge in gold prices. Recorded on Thursday 20th March, Frappell examines how far above $3,000 per ounce gold can go.Frappell’s analysis delves into what managed money positioning reveals about the current gold rally, exploring the role of short covering and gold ETF flows. He also touches upon the silver market and the significant buying activity observed. The episode further covers technical analysis using the Ichimoku Cloud, highlighting the positive trend for gold. Frappell also discusses short-term gold price targets based on point and figure analysis. The conversation also touches on Fed Chair Powell's recent comments regarding inflation expectations and tariffs . Finally, the episode briefly addresses market pricing of the Fed's future interest rate expectations.PODCAST INFO: ABC Refinery website: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.abcrefinery.com/podcast⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Nick Frappell: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/nick_frappell⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Shae Russell: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/shaearussell⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠OUTLINE: Here are the timestamps for the episode. On some podcast players, you should be able to click the timestamp to jump to that time.Timestamps:(0:00) – Introduction(0:38) – What's driving the current gold rally?(1:11) – Inflation expectations and Powell's comments(3:38) – Managed money positioning in gold(4:50) – Managed money positioning and ETF activity in silver(6:03) – Technical analysis: The Ichimoku Cloud for gold(7:42) – Gold price targets (short-term)(9:26) – The Fed's stance and market expectations for rate cutsTune in to hear expert perspectives on the outlook for gold, the significance of managed money positioning, and the implications of the Fed's recent communication....

In the first episode of The Pod of Gold for 2025, Nicholas Frappell, Global Head of Institutional Markets at ABC Refinery, breaks down a whirlwind start to the year for gold. Just one month into 2025, gold has already hit two record highs, with the latest peak at $2,830 USD. But what’s driving the price action? The big headline is Trump’s new tariffs, imposed on Canada, Mexico, and China over the weekend. Nicholas explains how these tariffs are impacting gold and silver markets, short-term borrowing rates, and the US dollar. They also explore what this means for inflation, trade, and economic growth as the global economy braces for uncertainty. From gold’s technical targets and managed money positioning to the broader geopolitical and currency implications of a new trade war, this episode unpacks all the critical market movements shaping 2025. PODCAST INFO: ABC Refinery website: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.abcrefinery.com/podcast⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Nick Frappell: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/nick_frappell⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Shae Russell: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/shaearussell⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ OUTLINE: Here's the timestamps for the episode. On some podcast players you should be able to click the timestamp to jump to that time. Timestamps: (0:00) – Introduction: Gold’s wild start to 2025 (1:33) – Market Reaction: Short-term borrowing rates and spot market shifts (2:30) – Trump’s Tariffs: The impact on gold, silver, and global trade (5:17) – Gold Spot: All time high. (6:20) – Managed Money Positioning: How traders are adjusting to volatility (7:45) – Gold prices ‘Stronger for longer’ and ‘Fixation on gold reaching US $3,000’. (9:30) – Currency conversation: What are the impacts on gold and currencies during a trade war? Don’t miss this must-listen episode as markets brace for a volatile year ahead!

In this episode of The Pod of Gold, Nicholas Frappell, Global Head of Institutional Markets at ABC Refinery discusses the recent "Trump bump" and gold's subdued trading behavior. Dive into managed money positioning and technical analysis using the Ichimoku Cloud, exploring what the charts indicate for gold's future, including the potential for a move beyond $2,700. The discussion shifts to the geopolitical landscape, providing unique insights into Middle Eastern tensions and the renewed prominence of the Assad regime in Syria. As the year winds down, we reflect on key takeaways for gold investors, including the dangers of fixation on specific price targets like $3,000 per ounce. PODCAST INFO: ABC Refinery website: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.abcrefinery.com/podcast⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Nick Frappell: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/nick_frappell⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Shae Russell: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/shaearussell⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ OUTLINE: Here's the timestamps for the episode. On some podcast players you should be able to click the timestamp to jump to that time. Timestamps: (0:00) – Introduction and Overview (1:24) – Recap of recent gold moves (3:34) – Managed Money Positioning (7:17) – Gold Targets (8:54) – $3,000 for gold? (10:08) – Global tensions on the precious metals price (15:28) – Key takeaways

In this episode of The Pod of Gold Nicholas Frappell, Global Head of Institutional Markets at ABC Refinery, breaks down the recent market movements and gold’s volatile reaction to U.S. employment data. Frappell explores how the latest non-farm payroll numbers have sparked speculation around the Fed's next move and what it means for gold prices in the coming months. Also discussed in this episode is the growing geopolitical tensions in the Middle East and how they could further support the gold price. Frappell provides insights into the latest managed money positioning, as well as technical analysis using the Ichimoku Cloud and other indicators. Tune in for an expert take on where gold may be headed next and what data surprises could impact the markets. PODCAST INFO: ABC Refinery website: ⁠⁠⁠https://www.abcrefinery.com/podcast⁠⁠⁠ Nicholas Frappell: ⁠⁠⁠⁠https://twitter.com/nick_frappell⁠⁠⁠⁠ Shae Russell: ⁠⁠⁠⁠https://twitter.com/shaearussell⁠⁠⁠⁠ OUTLINE: Here are the timestamps for the episode. On some podcast players, you should be able to click the timestamp to jump to that time. Timestamps: (0:00) – Introduction (0:15) – Gold's Recent Market Behaviour (0:55) – US Employment Data and Gold’s Reaction (7:14) – Managed Money Positioning in Gold (8:24) – Technical Analysis: Ichimoku Cloud and Price Targets (11:30) – Gold’s Outlook for the Remainder of the Year

In this episode of The Pod of Gold, Nicholas Frappell, Global Head of Institutional Markets at ABC Refinery, discusses gold's recent surge past the $2500 mark. Nick explores the factors behind this psychological milestone, including shifts in U.S. rate expectations and the ongoing influence of central bank policies. Nicholas also delves into the impact of China’s economic stagnation on gold demand and the surprising dynamics between fast and slow money in the market. The episode wraps up with a look at the Australian dollar's unusual divergence from iron ore prices and what this means for future rate cuts by the Reserve Bank of Australia. Tune in to gain insights into the current state of the gold market, the macroeconomic influences at play, and what could be on the horizon for both gold and currency markets. PODCAST INFO: ABC Refinery website: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.abcrefinery.com/podcast⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Nick Frappell: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/nick_frappell⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Shae Russell: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/shaearussell⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ OUTLINE: Here are the timestamps for the episode. On some podcast players, you should be able to click the timestamp to jump to that time. Timestamps: (0:00) – Introduction (0:35) – Gold Surpasses $2500: Key Drivers (1:13) – U.S. Rate Expectations and Their Impact (2:55) – Gold Positioning: Fast vs. Slow Money (6:54) – Technical Analysis: Ichimoku Cloud (9:22) – Medium term gold targets (11:33) – The Stagnation in China and Its Implications (22:45) – Australian Dollar vs. Iron Ore: A New Disconnect (26:43) – Key Takeaways and Closing Remarks