Video News/Kitco News: Legends

Pierre Lassonde, Co-Founder and Chair Emeritus of Franco-Nevada, says the current gold bull market is being driven by structural pressures in U.S. debt, deficits, and global reserve management. Speaking with Kitco News anchor Jeremy Szafron, Lassonde said, “I could not be more bullish,” and outlined his $17,250 gold target by drawing parallels between the late 1970s and today’s macroeconomic environment. Lassonde argued that central banks are diversifying away from the U.S. dollar and increasingly treating gold as the “currency of last reserve.” He also discussed the shift in physical price discovery toward Asia, rising demand from India, and the implications of parallel payment systems. In mining equities, Lassonde said current valuations do not reflect the potential for margin expansion, highlighting disciplined capital allocation, royalty optionality, and copper-gold deposits as key themes for the sector.