The Fed Just Quietly Backstopped Japan, and Gold Noticed | This Week In Focus
Aug 8, 2026 Market Updates and Analysis
Gold ran about $300 in days, and copper set an all-time record in New York, and neither move had much to do with anyone wanting more of them. This week the Fed quietly opened a window letting Japan borrow dollars against the American debt it already owns, Congo banned copper and cobalt exports, a quarter of the world's sulfuric acid supply vanished, and global debt hit a record $353 trillion.
From Kitco News, Jeremy Szafron breaks down the week with three guests who don't agree on much: chart trader Florian Grummes, who tore up his cash position and called it "back to money printing"; economic historian Phillip Magness on why a trillion dollars of U.S. gold still sits on the books at $42 an ounce; and Don Durrett, who owns 168 mining companies and flatly refused to name his top three.
Recorded August 6, 2026.
Watch the full interviews:
Florian Grummes: • Gold Breakout Was the Signal to Buy Again ...
Phillip Magness: • Gold at $42.22 and "One of the Great Myste...
Don Durrett: • The Gold Selloff Wasn't The Problem; It Wa...
#gold #goldprice #copper #silver #KitcoNews
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