The Real Reason Gold Sold Off This Week | Frank Giustra

Mining financier Frank Giustra says the gold selloff is being completely misread. The smart money, the central banks, never sold. It was the speculators and the loose hands bleeding out, while the structural buyers that drove this bull market never flinched. So is the gold bull market over, or is this the pause before the next leg? Frank Giustra, founder and CEO of the Fiore Group, joins Kitco News anchor Jeremy Szafron for a wide ranging conversation on gold, the dollar, copper, and the slow rebuilding of the global monetary system. Giustra has founded and financed gold and copper companies for 45 years and has held physical gold since 2001 without selling an ounce. In this interview: why this is not a normal gold market, the de-dollarization trade that began when the US froze Russia's reserves, the new regime in which gold rose alongside a strong dollar and positive real rates, why central banks are price inelastic buyers, what the Gulf states are and are not selling, the US debt trap and Ferguson's Law, the risk of a dollar crisis, how China's mBridge system and new gold vaults could let trade settle in gold outside the dollar, whether new Fed Chair Kevin Warsh will hold the hawkish line or fold, the structural copper supply deficit, and what Giustra says the average person should actually do to protect their savings. Recorded June 19 2026 Follow Jeremy Szafron on X: @JeremySzafron (  / jeremyszafron  ) Follow Kitco News on X: @KitcoNewsNOW (  / kitconewsnow  ) Follow Frank Giustra on X: @Frank_Giustra (  / frank_giustra  ) CHAPTERS 00:00 The Dollar Admission That Set This Up 01:40 Why This Is Not A Normal Gold Market 03:00 De-Dollarization And Why It Keeps Going 05:00 The New Regime: Gold Broke Its Old Rules 07:00 Why Central Banks Do Not Care About The Price 08:00 Foreign Central Banks And Gold Versus Dollars 09:00 Is The Gulf Selling Gold? Russia, Turkey, Azerbaijan 10:00 The Debt Trap And Ferguson's Law 13:00 Could There Be A Run On The Dollar 14:00 mBridge: China's Gold Settlement System 17:00 Will Fed Chair Warsh Hold Or Fold 19:00 The Copper Supply Deficit 22:00 Freedom Copper And The White House 36:00 Jurisdiction Risk: Bargain Or Value Trap 40:00 What The Average Saver Should Do Now 44:00 The Dinosaur's Final Word #gold #goldprice #frankgiustra __________________________________________________________________ Like, share, and subscribe to Kitco News—and turn on alerts to stay current with expert interviews, market insights, and breaking news coverage. FOLLOW US: X: https://x.com/kitconewsnow Instagram:   / kitconews   Facebook:   / kitconews   LinkedIn:   / kitconews   Listen to the PODCAST on 🎧 Spotify: https://open.spotify.com/show/1My4Wgt... 🎧 Apple Podcasts: https://podcasts.apple.com/us/podcast... 🎧 All podcast episodes available here → https://kitconews.buzzsprout.com Visit: https://Kitco.com/ for live gold, silver, and crypto prices, the latest mining news, and macroeconomic insights. Live gold price and chart: https://www.kitco.com/charts/gold Live silver price and chart: https://www.kitco.com/charts/silver Live crypto market data: https://www.kitco.com/price/crypto Learn more about Kitco News: https://www.kitco.com/news/about/ For more information on advertising, sponsorship and marketing promotions – please visit our online media kit at: https://www.kitco.com/advertising Disclaimer: The videos are not intended to provide trading advice, and the views expressed do not necessarily reflect those of Kitco Metals Inc. Kitco News, its anchors, producers, and reporters are not responsible in any way for the performance or actions of any sponsor, advertiser or affiliate of Kitco News. In no event will Kitco and its employees be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content in this video.