Gold Above $3,600, Silver Pushing $42: Mazumdar on Debt, Rates and ETFs

Joe Mazumdar, Editor of Exploration Insights, joins Kitco Mining as gold approaches $3,600/oz and silver remains over $40/oz. In this episode of Digging Deep with Paul Harris, Mazumdar explains how mounting U.S. debt and pressure for interest rate cuts are driving precious metals higher. “Any indication that the real interest rates are going down is a positive for gold,” he says.

Mazumdar discusses the World Gold Council’s plan for fractionated digital gold, designed to make physical ownership more accessible for retail investors. He examines silver’s momentum and the appeal of silver-dominant companies, Newmont’s cost-cutting drive to sustain dividends and buybacks, and why miners must compete directly with gold equity ETFs.

Looking ahead to the Precious Metals Summit in Beaver Creek, Mazumdar outlines where corporate interest is focused, the risks of staged development economics, and why execution, jurisdiction, and capital allocation will determine which projects succeed in a high-price environment.