Gold’s Biggest Bull Market Yet Isn’t Over | Brien Lundin

On a day gold dropped hard, the man who runs the New Orleans Investment Conference says the bull market is far from over. Brien Lundin calls this “another major secular bull market for gold,” and he expects it to be “the biggest and the best” yet, after 45 years of ever-easier money and mounting debt. Speaking with Kitco News anchor Jeremy Szafron, the Gold Newsletter editor says gold is “the piggy bank” in a margin call, broken open when investors suddenly need cash. The first 18 months of this bull market were driven by almost relentless central bank buying, he says, and the stomach-churning swings arrived only once Western traders piled in. If the selloff ever turns into a crisis on the scale of 2008 or COVID, he expects the policy response to be many times larger than the last. With cracks showing in the AI trade, Lundin warns that bubbles don’t deflate gradually. Still, he expects gold to find a low and rebound, likely reaching the high $4,000s by next year. He says the first mistake newer investors tend to make is selling in a panic, and he explains how tax-loss selling and jurisdiction risk could shape the junior mining market in the months ahead. This interview was recorded on Oct. 30, 2026. Special thanks to our sponsor, Dakota Gold, for making this coverage possible. To learn more, visit: https://dakotagoldcorp.com/ Follow Jeremy Szafron on X: @JeremySzafron (https://x.com/JeremySzafron) Follow Kitco News on X: @KitcoNewsNOW (https://x.com/KitcoNewsNOW) Follow Brien Lundin on X: @Brien_Lundin (https://x.com/Brien_Lundin) 00:00 Welcome Back to New Orleans 00:35 The Mood in a Gold Room on a Down Day 01:38 When the AI Bubble Cracks, Metals Sell Too 02:47 The Biggest Gold Bull Market Yet 04:00 Gold as the Piggy Bank in a Margin Call 05:30 Where We Are in the Junior Mining Cycle 06:44 The AI Bubble and How It Bursts 08:05 Junior Picks: Set-and-Forget vs Speculation 09:57 Jurisdiction Risk vs Geology 11:09 Seasonality and Tax Loss Selling 12:20 What to Look for in Royalty Companies 13:32 52 Years of the Conference, From Blanchard to Thatcher 15:25 The Debasement Trade Crowd and First-Time Buyers 17:21 The Biggest Mistake New Investors Make 18:44 Gold in the High $4,000s a Year From Now 19:49 Closing Thoughts #Gold #Silver #Mining __________________________________________________________________ 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.