In this presentation, Jeffrey Christian of CPM Group discusses what could drive the next sharp rally in gold and silver and how investors can prepare for rising economic, political, and financial risks. With gold trading around $4,300 and silver around $64.60, he explains why CPM continues to see upward pressure despite the retreat from the highs earlier this year.

CPM believes a recession is likely at some point over the next two to three years and that gold and silver could reach new record prices as the conditions leading toward that recession develop. Jeff examines stock market valuations, concentrated equity gains, bond market risks, high housing prices, and government, corporate, and private debt. He explains why recessions typically emerge from a combination of pressures and why their timing, depth, and duration remain uncertain.

The presentation also explains why CPM currently favors gold and silver over platinum and palladium when considering economic and financial risks. Gold and silver trade heavily as financial assets, while platinum and palladium remain more exposed to industrial demand, particularly automotive catalysts. Jeff discusses a potential platinum trading range of roughly $1,550–$2,000 over the next couple of months, alongside palladium support around $1,180–$1,200 and resistance near $1,450.

Courtesy of the CPM Group