Stijn Schmitz welcomes back CEO of the Feneck Consulting Group, John Feneck to the show. The conversation begins with gold’s recent consolidation, noting it has turned negative year-to-date and is down around 5%. Feneck asserts the bull case remains intact, citing support at 3,900–4,000 and dismissing comparisons to the 2016 rate cycle because the Federal Reserve lacks room for aggressive hikes. He highlights Fed Chair Worsh’s hawkish rhetoric as a temporary headwind but points to improving inflation data and a divided policy landscape. The bond market saw a notable intervention by Scott Besson in August, which briefly buoyed sentiment before the Fed’s Jackson Hole messaging reversed gains.

Geopolitical tensions—wars in Ukraine and the Middle East, plus U.S. election uncertainty—create a favorable backdrop for gold, though markets have become somewhat desensitized. Shifting to mining equities, Feneck describes a hub-and-spoke portfolio strategy, using GDX and GDXJ as core holdings and adding select junior explorers and developers.

Timestamps:
00:00:00 – Introduction
00:00:55 – Gold Market Fundamentals
00:01:40 – Fed Policy and Gold
00:04:22 – Treasury and Bond Markets
00:05:42 – Geopolitical Tensions Impact
00:09:46 – Gold Mining Sector Overview
00:12:48 – Junior Mining Stock Picks
00:19:45 – Development Projects Acquisitions
00:22:02 – Gold Price Targets Analysis
00:23:53 – Critical Minerals Investments
00:29:52 – Jurisdiction and Sovereignty Risks
00:32:11 – Investment Timeframes Outlook
00:35:36 – Concluding Thoughts

Guest Links:
X: https://x.com/feneckconsult
YouTube: https://youtube.com/feneckcommoditiesreport
LinkedIn: https://www.linkedin.com/company/feneckcommoditiesreport
E-Mail: mailto:john.feneck@yahoo.com
Website/Newsletter: https://www.feneckconsulting.com/
Conference: https://topshelf-partners.com

John Feneck’s upcoming conferences:
Events are invitation only. If interested, please email John at john.feneck@yahoo.com

In September 2019 he founded Feneck Consulting Group, helping small- and mid-cap metals and mining companies raise brand awareness and advising high-net-worth advisors on market opportunities and risks. He holds Series 7, Series 63, CMFC and CIMA Level 1 certifications (though he is not a licensed advisor) and focuses on consulting. Based in Scottsdale, AZ, he’s a single dad to an 11-year-old daughter and spends weekends as a professional musician, athlete and traveler.