Video News/Digging Deep

John Feneck, founder of Feneck Consulting, joins Kitco Mining’s Digging Deep to discuss record-breaking moves in gold and silver, as investor momentum and U.S. policy fuel the next phase of the commodities cycle. “Very exciting times for gold investors,” he says, noting that Goldman Sachs has lifted its 2025 target to US$4,900 and Bank of America to US$5,000 per ounce. “When they speak, you have to listen.” Feneck adds that silver’s rally is equally dramatic, with prices now above US$54. “Fifty broke on silver like butter,” he says, suggesting inflation-adjusted highs near US$66–70 could come next. Feneck also discusses growing fund flows into gold and silver equities, as global ETFs saw record US$17 billion inflows in September. “We’re much overweight on the equity side because you’re seeing outsized numbers on a daily or weekly basis,” he says. He sees U.S. critical minerals policy under President Trump as “just the tip of the iceberg,” with further announcements and investment to come across the mining sector.