Video News/In Focus with Jeremy Szafron

(Kitco News) - Money printing will resume once the US midterm elections pass, pushing interest rates down and gold steadily higher, according to Clem Chambers, founder of ADVFN and investment commentator. Speaking with Kitco News, Chambers said the economy is heading into a reflation because "there's not enough money" to fund both the AI build-out and the reshoring of American industry, leaving Washington little choice but to print. He expects the Federal Reserve to hold off until after the November 3 vote, so it cannot be accused of influencing the election, before what he described as an inflationary rush. In that environment, Chambers said gold "will go blip" in the short term before resuming a long-term climb, arguing "long term it's only gonna go one way, and that's it's gonna grind up." He framed gold as a hedge against currency debasement in a cash-hungry, inflationary world, noting that in the near term the price is often set by countries at war, "gold is for war, it's the currency of war." Chambers added that the AI race has become a race for electricity and copper, and that blue-collar workers could be among its biggest winners.