Francis Hunt: The Slow Collapse of Dollar Dominance Has Already Begun

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**Francis Hunt** (1:32)
The system that the China has put in place is a very slow, but deadly erosion of dollar dominance. And anyone who doesn't see that is not watching the game turn. It's slow motion, but it's coming. The fiat and debt-based collapse is more critical and more chronic than before. And the actions of China and of course Biden on the confiscation and many other events are moving towards a gold-warranted, vaulted type system by the largest producer nation on the planet.
That is incredibly supportive and the price data is showing them.

**Maggie Lake** (2:16)
Hello and welcome to Wealthion, I'm Maggie Lake. Joining me today to discuss the risks around debt and the outlook for precious metals is Francis Hunt, founder of themarketsniper.com. Hi, Francis. Lovely to see you. Welcome back.

**Francis Hunt** (2:29)
Delighted to be back with you, Maggie. Thank you for the invitation.

**Maggie Lake** (2:32)
So a lot has happened since the last time we spoke about four months ago.
Specifically, gold prices have fallen sharply, down over 11 percent in June, 30 percent from the peak earlier this year. I'm wondering what your sense is of the markets. Is there more downside ahead for gold? What are you looking at? Where's your head right now?

**Francis Hunt** (2:52)
Yes. A couple of things, actually.
There's the gold and silver story, which I'll answer your question on. Other things, just notice is the AI tech boom, which we can go, but we can circle back to later, I'm sure, and how to get that right for when it might top out and start to come down. Ref, your question, gold and the precious metals more broadly.
Straight to more moves really got hot on us in February, and we had the peak in the end of January with gold and the runner. It was moving very, very quickly. Round about the tail end of 24, we'd said $2,000 is going to fall for the first time on a sustained basis and we're going to run higher than 3,000 was the target. Not only did we do 3,000, but we had more set ups along the way, continuation and the top out was actually 5,600. So one of the most important things for everybody to remember, I think, in all of this, Maggie, is that we've had an exceptionally good run and that's only a small leg in what I see an ongoing good run. I'll make reference to the chart, but overall, to give the short answer to your question before I get too technical on charts, people shouldn't lose too much faith, but it's also not going to be over in a second either in terms of the pullback. You'll see when I refer to that technically, we've got shooting stars, which are actually exhaustive and reversal moments. We could have a more prolonged pullback because of what we did, but in the longer run, we will base out and reassert, we expect continuation rather than this being a top. Same goes for silver and platinum. Let me give you the short answer and hand back to you.

**Maggie Lake** (4:35)
Yeah.
I think that we're going to dig into exactly what you're seeing. We have a lot of people in our community who are either in real assets or interested in real assets, trying to figure out what to do with their portfolio. We're going to throw some links in for all of you, if you'd like to join the community and get some help with your portfolio. But I think the big question, Francis, is what is happening with prices? Walk me through the nitty gritty here. Is it time to buy? Do you have to be patient? If you are newer to the gold market, how do we need to think about this action? Are we in a more volatile period? These are the questions we're getting from our audience. Walk me through what you're seeing in your charts.