In this episode, Nicholas Frappell, Global Head of Institutional Markets at ABC Refinery explains why Gold has surged to a historic US $3,759, and the momentum shows no sign of slowing.
📆 Recorded on Tuesday 23rd September 2025, this episode explores:
Why weakness in the US dollar and shifting Federal Reserve policy are fuelling the rally
Key price targets—including short-term resistance around US $3,800 and medium-term potential near US $4,000
The surge in ETF inflows and investor rotation out of equities
Geopolitical flashpoints and economic signals from China that could keep gold in demand
📈 Frappell also examines:
Dollar Index (DXY) weakness and what past declines suggest for a possible rebound.
September’s 25-bp cut and why the market’s hopes for deeper, faster easing may be misplaced.
Inflation break-even rates and why the Fed’s own projections challenge the “rapid cuts” narrative.
Rotation out of US equities and into gold as a hedge.
Technical targets: short-term and medium-term
Key support zones
Escalating tensions—Russian jets, uncertain US leadership—and their impact on safe-haven demand.
China’s slowing fixed-asset investment and soft consumption shaping global trade flows.
🕒 Timestamps:
(00:00) – Introduction
(00:55) – Moves behind the gold rally
(04:55) – Managed money positioning
(08:38) – Gold price targets
(11:20) – Is the US dollar losing its grip?
(13:07) – Geopolitics & macro drivers
(14:08) – Key takeaways
🔗 More Resources:
Follow Nick Frappell: https://twitter.com/nick_frappell
Follow Shae Russell: https://twitter.com/shaearussell
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