Video News/In Focus with Jeremy Szafron

Clem Chambers, founder of Anewfn.com, says the current surge in commodities is being shaped by geopolitical risk, rising energy demand, and tightening financial conditions. Speaking with Kitco News anchor Jeremy Szafron, Chambers argued that recent oil price spikes reflect tactical developments tied to global conflict rather than a permanent structural shift in energy markets. Chambers said the artificial intelligence boom will drive a long-term surge in global electricity demand, describing the technology as comparable to the industrial impact of the steam engine. He outlined his view that gold serves as a strategic reserve during periods of geopolitical conflict, stating that “gold is for war,” and reiterated a long-term price target of $6,000 per ounce. Chambers also warned that stress is emerging in shadow banking and private credit markets as the Federal Reserve tightens liquidity, while noting that the U.S. dollar remains resilient against global currencies.