Video News/In Focus with Jeremy Szafron

(Kitco News) - A widening war in the Gulf is accelerating a new commodity supercycle that will drive gold toward $10,000 by 2029 and send prices across oil, copper and critical minerals sharply higher, according to Col. Douglas Macgregor, a retired US Army colonel and geopolitical analyst. Speaking with Kitco News, Macgregor said the breakdown of American-led global dominance is pushing nations toward “resource sovereignty,” which he called “the beginning of a new super cycle in commodities” that Washington “cannot reverse.” He argued that refining, not mining, is the real bottleneck for copper, rare earths and other critical minerals, and that China holds the leverage. On oil, he said prices are likely to reach $150 to $200 a barrel next year as delayed effects of the war catch up, feeding a diesel and gasoline crunch. Macgregor pointed to gold’s rise since 1971 as “skyrocketing” and said that over the long term “all of these commodities are gonna go through the roof until a new global structure stabilizes,” forecasting gold at $10,000 by 2029. He also warned that another US strike on Iran could bring “years of scarcity” for oil and water across the Gulf.