Video News/In Focus with Jeremy Szafron

(Kitco News) - The US economy is heading into a period of falling growth and rising prices that will push gold higher, even as Wall Street rallies and Main Street struggles, according to Gerald Celente, founder of the Trends Research Institute and publisher of the Trends Journal. Speaking with Kitco News, Celente said the economy is entering what he calls "dragflation," declining economic growth and rising inflation, arguing "the higher inflation goes, the higher gold prices should go." He said Wall Street and Main Street have split apart, pointing to his own Hudson Valley region where "the streets are dead" and local restaurant owners report business down more than 30%. Celente, who says he first bought gold near $170 an ounce in 1978 and bought again around $5,300, said he would still be a buyer rather than a seller. He is also bullish on silver, noting "there's no silver stockpiles" as industrial demand keeps growing. Celente warned the coming downturn could rhyme with 1929 and urged people to prepare, summing up his advice as his "three Gs," guns, gold, and a getaway plan. SPONSORED BY KALSHI Trade the first CFTC-regulated gold and silver perpetuals in the U.S., 24/7, with no expiration date. Exclusive Kitco offer: trade $50 and get $25 free with code KT2026. (https://kalshi.com/p/KT2026) Availability varies by jurisdiction. Not available in Canada. Offer terms and eligibility apply.