Video News/In Focus with Jeremy Szafron

Ted Oakley, Founder and Managing Partner of Oxbow Advisors, says rising long-term Treasury yields are changing the risk calculation for equities, credit, and traditional portfolio construction. Speaking with Kitco News anchor Jeremy Szafron, Oakley warned that markets remain disconnected from the real economy as passive flows and enthusiasm around artificial intelligence continue to support major stock indexes. Oakley said the AI infrastructure buildout will require significant energy investment, creating opportunities in pipelines, drillers, and related hard-asset businesses. He also outlined a cautious view on precious metals in the near term, arguing that gold may need a $500 pullback to flush out “momentum” buyers before the next leg higher. Oakley said select gold and silver miners remain attractive given historically strong profitability spreads.