Brien Lundin - Gold Volatility, Global Money Flow Trends, and It’s Exploration Season

The KE Report

Brien Lundin, editor of the Gold Newsletter and host of the upcoming New Orleans Investment Conference (Nov. 2–5) joins us to discuss the investment narrative for gold and gold stocks.

We dive into a volatile day for gold, with futures down $80 and trading just above $3,300. While the pullback may be tied to geopolitical headlines and a U.S.-UK trade deal, Brien emphasizes a deeper story: gold’s rising role as a global safe haven amid the “Sell America” trend.

Key discussion points include:

• Gold's inverse correlation to U.S. equities and the balance between central bank buying and generalist investors.
  
• Why Western speculators may misjudge this gold rally, as institutional calls for $3,500-$4,000 become more common.
  
• A look at Q1 earnings from gold producers, which significantly outperformed most other asset classes.
  
• The disconnect between producers and developers/explorers, and what criteria Brien watches for when evaluating juniors.
  
• What’s ahead in the 2025 drill season, with more capital raised, more rigs turning, and investor anticipation building.
  

This conversation frames the broader shift toward hard assets and resource equities, especially as geopolitical risks persist and central banks continue diversifying away from the U.S. dollar.

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