Welcome back to our weekly update. I'm Charlotte Mloud with investingnews.com and we're going to run through a few of this week's biggest stories in the mining industry. If you enjoy this video, don't forget to hit the like button, subscribe to our channel, and of course, leave us a comment below. Let's get into it. [Music] The gold price declined from its recent all-time highs this week, sinking to nearly 4,000 per ounce and recording its biggest 1-day decline in more than 12


years. Silver took a similar hit, slipping back below the 50 per ounce level. The drops have been attributed to factors like a stronger US dollar and lower US China tensions, as well as profit taking potentially from traders who are new to the market. If you've been following along on our channel, you'll know the experts I've been speaking with have been anticipating a correction for the metals. Their latest rise has been quick, and I've heard many times that no asset can go straight up


forever. However, many market watchers also think gold has entered a new phase. Patrick Tui of Goldstrom told me he believes gold won't fall below 3,000 again. And several viewers responded saying that they believe its floor is even higher than that. Here's what Patrick said. >> But um is is this um a short-term phenomena that's going to have um some some dynamics that are going to turn it on its head and it reverses 50 60%. I don't believe that is the case. Um I I don't believe that is the case. I think


within our our group, and I know you've met one of my colleagues, Jeff Rhodess, uh the the consensus is that it's unlikely that we'll see gold below $3,000 again in our lifetimes. So, you know, that that's let's say that that's the floor. Um that's a fairly significant move from where we were 2 years ago. So, that that that's comfortable. Next week, all eyes will be on the US Federal Reserve, which is set to meet from October 28th to 29th. CME Group's Fed Watch tool shows strong


expectations for another interest rate cut. While the release of US government data has been affected by the ongoing shutdown, September consumer price index numbers are expected to be out by the time this video is posted. It will be the first major piece of federal economic data to come out since the shutdown began, and analysts are expecting it to show that inflation remains sticky. [Music] We've had a lot of great content go up lately, so for this bullet briefing, I want to highlight a couple of my


favorite recent interview clips instead of the usual news stories. First is Ed Steer of Ed Steer's Gold and Silver Digest. He's well known for his commentary on the precious metal space, and he weighed in on what's next for silver, saying that today really is different compared to the other times silver rose to the 50 per ounce level. Here's how he explained it. So if you're you look at the price today, it's irrelevant what the price is today. You look at the big picture and look at the


fact that the bricks plus have become an absolutely awesome juggernaut and it's absolutely unstoppable and as we shift from one from the west to the east as this continues economically, financially, uh it's impossible to say where this is going to end up. But what we're we're living right now is we're living through a a major major shift in financial uh power from one sector to from one area of the world to another and we're going to be they're going to be writing about


this a thousand years from now. So we're living through history. >> Next we have Don Durant of goldtockdata.com. This interview is from the week before last. So it's a little older but definitely still relevant. I've kept thinking about a comment Don made about one way we can tell the gold cycle is still early. This is what he said. >> The thing that really reveals how early we are is that the stock market is only 2% from an all-time high. And what in the world is the stock


market doing at an all-time high and and gold's at an all-time high? Those are antagonistic. Gold is supposed to be a hedge against uncertainty. The stock market is supposed to show basically confidence. And so if you have an all-time high, people should be confident. Everything's fine. We don't need this. But people are not confident. People have said this is the the most scary bull market ever. You know, it's nobody really believes in it, right? And that's why it's like,


wait, so the question is, who's telling the truth? Is the stock market telling the truth at an all-time high or is it gold that's telling the truth? Well, it's pretty obvious that gold's the one telling the truth. >> Finally, if you'd like to hear more from me, I was recently interviewed by Steve Barton of In It to Win It. I really enjoyed the conversation which covers my background and my takeaways from the interviews I do here on the investingnews.com channel. I'll leave


the link to my interview with Steve as well as the interviews with Ed and Dawn in the video description. Take a watch if you'd like and please drop a comment below if there are any people you'd like to see me speak to. Thank you for watching. If you like this video, make sure you hit the like button and subscribe to our channel. We'd also love to hear your thoughts, so leave us a comment below. [Music]