'Scarcity Season' Has Begun: Ran Neuner Is Long Gold, Silver And Bitcoin
Sep 4, 2026 Market Updates and Analysis
Gold has stopped taking its orders from interest rates. It should have fallen about 55% between March 2022 and October 2023 as real yields rose more than four points. It rose 7%. Then real yields fell less than a point over two years and gold rallied 110%, according to UBS Investment Bank.
Ran Neuner (@CryptoBanterGroup) says the reason is the debasement trade, and that we have entered what he calls scarcity season. He walks through the $40 trillion US debt financed near 3.5% against a 10-year Treasury yield at 4.75%, the Treasury's buyback of its own long-dated bonds, and why he is long gold, silver, platinum, palladium and bitcoin at the same time. He also tells Jeremy Szafron the gold levels he needs to see, why silver always lags before it moves fast, and how he caps every position after losing $130 million in four days.
Recorded September 3, 2026
Follow Jeremy Szafron on Twitter: @JeremySzafron ( / jeremyszafron )
Follow Kitco News on Twitter: @KitcoNewsNOW ( / kitconewsnow )
Follow Ran Neuner on Twitter: @cryptomanran ( / cryptomanran )
Chapters
00:00 Gold broke its 20-year link to real rates
01:24 Scarcity season is here
02:12 Why he says the buybacks are money printing
04:52 At war with the bond vigilantes
06:25 Not a big believer in the four-year cycles
07:36 He says the last bull run started with a bank failure
09:45 You don't need something to break, just someone fighting it
11:15 Long gold, silver, platinum, palladium and bitcoin
12:15 He says the 200-week average is the risk-reward line
13:56 Why he says the Fed won't hike
19:11 Every time the 10-year hits 5%, they intervene
22:53 The cost of production floor at $50,000 to $58,000
26:00 How he toggles on extreme fear and extreme greed
29:02 The $130 million mistake that taught him everything
31:24 His actual portfolio, percentages and all
32:53 Silver's like a scorpion, and gold has to run first
34:00 The gold levels he needs, 4,781 then 4,900
35:39 The danger of 25x leverage on gold
38:32 Should a 60-year-old own any bitcoin
39:15 Why AI agents will need their own money
#gold #silver #bitcoin #debasementtrade #federalreserve #kitconews
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