By coinnews 
00:00 Speaker A
So, obviously we’ve had been seeing a huge run in gold on sort of the worst fears about the tariffs. Now that the tariff uh and the trade war seems to be deescalating, is that it for the gold run?
00:17 Bob Iaccino
I don’t think so. Um I have some very strong feelings about gold and really if you go back to quote unquote liberation day, gold fell. It didn’t rise. And part of that is because the idea that it’s going to put the Fed in sort of a a trick box as to what they have to do. We have to remember that gold is not just an inflation hedge. As a matter of fact, it’s a pretty poor inflation hedge if the Fed is actively raising rates trying to fight inflation. No one is going to say that the Fed is going to raise rates before they cut them, at least not at this point. So if you’re looking at a situation where the Fed is leaning toward cutting rates and many people think that CPI data this morning was actually opening the door for rate cuts to happen sooner and possibly for the Fed to be more aggressive if they were to choose that path. That’s pretty supportive for gold. Gold always reacts to the sort of two or three-headed monster theory that I have about it. It’s not just an inflation hedge. It’s an asset. And if the Fed’s going to be cutting rates to try and drive assets higher or help the economy, gold is likely to benefit from that.
02:00 Speaker B
So so for the traders watching Bob at home right now, walk us through what are the levels I should be watching?
02:21 Bob Iaccino
Well, gold had an inside range day today, which normally is a reversal pattern. That would be reversing the last three out of three out of the last four down days if it were to be a reversal pattern. But it happened at a strange place in the recent price action. So I don’t think that that’s going to be very reliable at all, right. Excuse me, reliable at all. But if you get a daily close below the low that happened on May 1st, it’s right around 3210 or so. You could get a move down to about 2900. If you get that, that’s pretty big load up and buy and hold it for the next three to four years for me.
03:25 Speaker A
So when you talk about loading it up and buying, what do you think is the best way for people to do it? Do you do it through futures? Do you do GLD? Do you look at the miners? What do you think is most attractive?
03:44 Bob Iaccino
So first I want to say, don’t look at the miners. Um you can see several times during this gold run where miners just didn’t perform. There’s too many other things if you’re looking at gold and like I always say in reference to crude oil and oil companies or gold and gold miners, if you’re looking for a move in gold, guess what’s 100% correlated to gold, it’s gold. So if you’re not able to trade futures, you should be looking at GLD. Futures would be the most effective place. But I think the physical is really the play here. And I really do think that. I was actually looking back and it was on Yahoo in 2023 when I said that I think people should be loading up on physical gold for the next two to five years. Now, I guess since that was 2023, it becomes the next year to three years. I don’t know if I’m doing my math right. And I think it’s going to stay that way. I think gold should become a much larger part of people’s longer-term portfolio as well as trading it, but trading it, I’d be trading it in the futures.