Gold and silver are ripping higher—so is this move getting “ridiculous,” or are we still early? On The Futures Edge, Jim Iuorio and Bob Iaccino sit down with Shana Orczyk Sissel (Founder & CEO, Bannerman Capital) to break down what’s driving the latest metals surge, why global reserves may be shifting from U.S. Treasuries to gold, and what could actually stop this trade.
They dig into:
- Why de-globalization and geopolitical shifts may be fueling central bank gold buying
- Silver’s catch-up trade and how traders think about crowded positioning vs secular trends
- The physical gold debate: ETFs vs delivery—and why “audit risk” matters
- The Japan risk discussion and what a bigger bond/FX shock could mean for markets
- Shana’s contrarian view on private credit (why “the big guys” may not be the safest) + how interval funds fit in
- Her approach to the AI trade: “picks-and-shovels” infrastructure names like Nvidia and Marvell, plus a second-wave idea (fiber optics / Corning)
- A rapid-fire take on consumer discretionary, small caps (Russell vs S&P 600), and what could matter most in 2026
If you’re watching gold, silver, Bitcoin, macro risk, or the next stage of AI investing—this one’s for you.
Timestamps:
00:00 Intro + sponsors
03:30 Gold & silver surge—ridiculous or runway?
06:00 What could actually knock gold lower? (audits, physical supply, positioning)
13:10 Private credit: where the real opportunity is
18:30 AI trade: Nvidia/Marvell + the next winners (Corning/fiber)
22:30 Consumer discretionary debate
29:00 Small caps vs tech + why S&P 600 may beat Russell
Follow along on social media:
Twitter: https://x.com/bob_iaccino
Twitter: https://x.com/jimiuorio
LinkedIn: https://www.linkedin.com/in/bob-iaccino/
LinkedIn: https://www.linkedin.com/in/james-iuorio/
Newsletter: http://theunfilteredinvestor.com/
This episode is sponsored by:
Independence Ark: https://www.independenceark.com/
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AmerGold https://www.amergold.com/
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#Gold #Silver #Bitcoin #Macro #CentralBanks #Treasuries #PrivateCredit #AI #Nvidia #Marvell #Corning #Investing #FuturesEdge