This week’s episode features CPM Group Managing Partner Jeffrey Christian in conversation with host Adrian Pocobelli. Christian discusses the outlook for gold, currencies, and energy markets, explaining why he believes gold is currently in a period of consolidation and examining the roles of ETFs, central banks, and global bullion flows. He also explores the relationship between energy markets and currencies, particularly across Asia. All this and more with host Adrian Pocobelli. This week’s Spotlight features David Lye, Account Manager at FM, and Horace Chow, Head of Credit, Market Risk &amp; Insurance at Vale Base Metals. They discuss the partnership between the two companies and how FM has helped mitigate operational risks across Vale Base Metals&#x27; operations. To learn more, visit: https://www.fm.com/ “Rattlesnake Railroad”, “Big Western Sky”, “Western Adventure” and “Battle on the Western Frontier” by Brett Van Donsel (⁠www.incompetech.com⁠). Licensed under Creative Commons: By Attribution 4.0 License ⁠creativecommons.org/licenses/by/4.0⁠ Apple Podcasts:⁠ https://podcasts.apple.com/ca/podcast/the-northern-miner-podcast/id1099281201⁠ Spotify:⁠ https://open.spotify.com/show/78lyjMTRlRwZxQwz2fwQ4K⁠ YouTube:⁠ https://www.youtube.com/@NorthernMiner⁠ Soundcloud:⁠ https://soundcloud.com/northern-miner

Gold bull market still intact, ft CPM Group's Jeff Christian

The Northern Miner Podcast

# Full Transcript

**Podcast:** The Northern Miner Podcast

## Participants

- **Adrian Pocobelli** (The Northern Miner)
- **Jeffrey Christian** (CPM Group)

## Transcript

China is mad. According to the Financial Times, at Indonesia, which is very quickly becoming a hot spot, Japan struggles to find rare earths. We have several stories here on Japan scouring the world. They have a major problem there as well. Lots going on. Hello and welcome to The Northern Miner Podcast. My name is Adrian Pocobelli and Rock'em Sock'em headlines continue.

To appear in what was once a fairly humble mining sector where CEOs would be on stage basically apologizing for existing. How things have changed in 10 years. China slams Indonesia investment climate over nickel curbs. So this is June 15th. Now, a couple of things here before we dive into this. First of all, I don't want to say we should take this with a grain of salt.

It's probably accurate. But don't forget, remember the story that came out when Vladimir Putin was visiting Xi after the Trump-US-China summit and the Financial Times put out that article that Putin regretted the war? Kind of looked like a bit of a sigh of fear. Kind of looked like a bit of a sigh of fear. Kind of looked like a bit of a sigh-op to disrupt the meeting, to be perfectly blunt.

And so I would say the FT actually took a bit of a credibility hit on that article. Perhaps it was real. I don't know, but that's the impression. And so when we see a headline, China slams Indonesia investment climate over nickel curbs.

I think that does need to be kept in mind. However, it's not crazy because China has invested a whole bunch of money and basically set up a strategy for their nickel that basically Indonesia would pay the environmental cost. But what they would get is serious next level development in their economy.

And now Indonesia is starting to put certain restrictions, which the Chinese investors are reportedly not excited about or happy about. Now, as well on the geopolitical front, the Strait of Malacca, I believe, goes through Indonesia and it's increasingly moving to the center of the geopolitical spotlight. Interestingly, there are protests in the street over energy and the cost of living and their currency is struggling.

Now, one of the strange things about this is it's a pretty resource-intensive economy. It has nickel. It is working on aluminum. It has coal. Apparently, there's oil there, too. According to Jeffrey Christian, who is our feature guest on today's episode, wonderful discussion on what is happening in the gold market.

Of course, it touching $4,100, getting hit pretty hard here in recent days, recovering somewhat since this reported deal between the U.S. administration and Tehran. But back to Indonesia, it's not crazy to think that China would be outright mad.

And what I'm starting to wonder to myself, and we'll take a look at the article in a second, is, is China getting paranoid of increasing U.S. influence in ...

Gold bull market still intact, ft CPM Group's Jeff Christian

Transcript

Built for investment professionals

Every day you wait, your competitors are finding
edge in conversations you're not hearing.

Gold bull market still intact, ft CPM Group's Jeff Christian

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.