Todd Bubba Horwitz argues that gold and silver are consolidating in a base and are likely set to break higher, while Bitcoin looks pressured but probably near a bottom. He is bearish oil, cautious on equities, and broadly sees the economy flashing recession/stagflation warning signs.
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The conversation is a bullish precious-metals interview framed around a broader warning that the market and economy are deteriorating beneath the surface. Todd Bubba Horwitz says he is “certainly a buyer of gold, not a seller,” and thinks silver has an “outstanding chance to make a new high this year.” His core thesis is that gold and silver have been trading sideways-to-lower recently, but that this is a base-building phase rather than a failed trend, with a breakout still ahead. He repeatedly ties that view to macro stress: persistent inflation, the possibility of stagflation, weak and light volumes, pressure in housing, and warning signs in credit delinquency data. On the metals specifically, Bubba argues that the recent weakness is not a reason to be bearish. …
Near term, metals look range-bound but biased higher if equity weakness resumes; silver has the more explosive optionality, while gold is the cleaner buy-the-dip trade. Oil appears tactically vulnerable, and Bitcoin looks closer to a local bottom than a breakdown.
Over the next few months, the base case is a gradual metals breakout if inflation remains sticky and growth/credit data soften further. That thesis gets stronger if housing weakens, equity breadth deteriorates, and real-rate or liquidity conditions stop supporting risk assets.
The longer-run view is a stagflation and balance-sheet stress regime in which hard assets regain appeal versus financial assets. If that regime persists, gold and silver become core defensive allocations rather than just tactical trades.
Gold is in a base-building phase and likely to break out higher after recent sideways-to-lower action.
He says the near-term trend since February is down, but that the market is building a base and will go higher.
Gold could reach 6,000 this year.
He gives a specific upside target without a detailed path, but it is a clear price forecast.
Silver has an outstanding chance to make a new high this year.
He directly forecasts new highs in silver on a yearly horizon.
What's happening right now in Bitcoin after that crazy drop?
Bubba thinks there's a lot of pressure on Bitcoin. He notes that in markets getting ready to turn over, highly profitable items start going down first as investors defend crappy positions and sell good positions. He mentions rumors about a big hack but thinks Bitcoin is fine, with a sell-off likely near a bottom around $60,000.
What does the geopolitical tension in the Middle East do to the silver and gold markets?
Bubba says gold and silver have been very sideways to lower, with the near-term trend since February being down, but thinks they're building a base. He believes the spike back down to $4,100 in March was the bottom and sees them going much higher. He notes oil holding up has put pressure on gold, but overall he's a buyer of gold and thinks it could see $6,000 this year with silver making a new high.
What does the slowdown in US home prices tell you given what happened in 2007-2008?
Bubba says housing is in trouble, with falling prices and rising interest rates. He warns that over 14% of the population is 90 days past due on credit cards, over 7% on auto loans, and over 4% on mortgages, and that it's only going to get worse. He believes the economy is systematically destroying the middle class and a big meltdown is coming similar to 1987, 2001, and 2008.
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