by Money Metals
GoldSeek
On the latest Money Metals podcast, host Mike Maharrey welcomed Michael Pento, founder of Pento Portfolio Strategies, for an in-depth look at the gold market and broader financial trends.
Michael Pento believes gold is in a clear consolidation phase after hitting a record $3,500 per ounce in mid-April.
“The rally was driven by two main factors,” he explained — tariffs weakening global trade and a decline in the U.S. dollar.
“When you cut off global trade, you’re going to really hurt growth,” Pento noted, adding that this dynamic pushed investors away from stocks and bonds into gold.