Larry Lepard: Gold's Worst Week Since 2011 | I'm Buying.
Speakers
Summary
- Larry Lepard predicts gold reaching $10,000 to $20,000 due to unsustainable government deficits, money printing, and a "broken" fiscal system.
- In 2025, precious metals surged: gold +65%, silver +148%, GDX (gold miners ETF) +155%, with his fund up 175%.
- He acknowledges January 2025 saw speculative froth (e.g., SLV trading volume spikes), leading to a correction; his fund sold into high prices.
- Current sell-off (March 19th: gold -5%, silver -6-7%) is viewed as a normal correction within a multi-year secular bull market, not a bubble burst.
- He expects prices to base near 200-day moving averages (silver ~51, gold close) before resuming uptrend, citing ongoing deficit expansion (e.g., $200 billion war supplemental).
- Disagrees with bearish narratives calling for a return to $3,000 gold or $50 silver, seeing this as growing awareness of a long-term trend.
- Emphasizes sector volatility, with past fund drawdowns of 30-40%, cautioning that bull markets in this space are punctuated by sharp corrections.
- From video description: He was buying SILJ (silver miners ETF) and physical gold during the worst week, viewing it as a rare entry point for missed investors.
Trade Ideas
Larry explicitly states, "I believe gold's going to 10,000, 15,000, 20,000." He attributes this to government deficits, unchecked money printing, and a broken fiscal system that gold anticipates, with no reform in sight. Long-term bullish direction due to irreversible currency debasement trend, making gold a core holding. Serious, unexpected reform in government spending that curbs deficits, which he deems unlikely.
He notes silver corrected but remains above its 200-day moving average (~51), and explicitly disagrees with views that it will fall back to $50. Silver shares similar fundamentals with gold; the correction is a normal part of a bull market cycle, and a base is expected to form as deficits grow. Worth watching for entry as the correction provides a setup for potential upside, but timing is key after frothy extremes. If the correction deepens significantly beyond moving averages or if macroeconomic conditions shift abruptly.
Up Next
This Wealthion video, published March 23, 2026, features Larry Lepard discussing GOLD, SILVER. 2 trade ideas extracted by AI with direction and confidence scoring.
Speakers: Larry Lepard · Tickers: GOLD, SILVER