Tariffs, Debt, & Gold's Safe Haven Appeal

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 Listeners

ABC 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 expert
• Nicholas Frappell: Global Head of Institutional Markets at ABC Refinery
• Wayne 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/podcast
• Follow Nick Frappell: https://twitter.com/nick_frappell
• Follow Shae Russell: https://twitter.com/shaearussell