Video News/In Focus with Jeremy Szafron

(Kitco News) - Investors who bought physical gold to protect themselves may still have the larger share of their money concentrated in artificial intelligence stocks through ordinary retirement accounts, according to Felix Prehn, a former investment banker and founder of Goat Academy. Speaking with Kitco News, Prehn said the typical retail portfolio carries roughly 60% to 70% AI exposure, while a plain S&P 500 index fund is already about half AI, meaning many savers are doubling down on the same handful of companies without realizing it. He argued that gold's role is insurance rather than growth, telling Kitco News, "Gold doesn't go up, the dollar goes down." Prehn also made the case that the mining sector has further to run, noting that record producer cash flow will not quickly translate into new supply because bringing a mine into production can take 15 years or more. On the Treasury's expanded bond buybacks beginning September 9, he characterized the move as a form of money printing that quietly erodes savers' purchasing power, though he stressed that view is contested.