Title: Jeff Clark: Gold Tracking '70s Bull Run, History Shows What's Next (earlier title as pasted: "Jeff Clark: Gold, Silver Bull Run Not Over, Where I See Value Now") Show: Investing News Network (YouTube channel "Investing News") Guest: Jeff Clark (founder, The Gold Advisor) Host: Charlotte McLeod Date: 2026-09-17 URL: https://youtu.be/-xBNG42bpKI Length: 23:16 Note: YouTube auto-transcript pasted by Stephen; fillers (um/uh/"you know" interjections) and stutters removed; wording otherwise verbatim; (mm:ss) cues verbatim, kept in place. ">>" marks a speaker change. Auto-transcript garbles fixed: "Charlotte Mloud"=Charlotte McLeod, "goldadvisor.com"=The Gold Advisor (thegoldadvisor.com), "Peter Kraut"=Peter Krauth, "meadow"=metal, "Jennifer Anist"=Jennifer Aniston, "CO"=COVID, "investing.com" (outro)=investingnews.com. Left as spoken (uncertain): "Jeff Vogs" (likely Jeff Vogt), "the September myth"/"run like a myth" (likely the MIF, Metals Investor Forum), "paid prospector"/"Peter Prospector" (likely the Gold Advisor Prospector letter), "Pater Discoveries" (name of the new non-gold/silver letter — unverified), "the pack room" (venue).
00:04 I'm Charlotte McLeod with investingnews.com and here today with me is Jeff Clark, founder of The Gold Advisor. Thank you so much for being here. Great to have you in person. >> Yeah, it's great to be back in Vancouver. Thanks for having me. Yeah, it's really good to be filming in the office with you and we've got a lot to cover today, but I thought we should start with your upcoming event, the Gold Advisor Network Summit on November 5th.
00:31 We're excited to be your media presence at the show. But >> if you are, we thank you for doing that. We really appreciate it. You'll be perfect for this event. >> Well, we're so excited. Really looking forward to it. And I thought you could tell people what they can look forward to there.
00:48 I am very excited and humbled to announce that we're having our very own conference, the Gold Advisor Network Summit, as you said. It's very exciting. I can't believe we're actually doing it, but we're big enough now that we can have our own conference. So, it'll be myself, silver guru Peter Krauth will be speaking, geologist Sharon Alexander will be there, senior analyst Jeff Vogs will be there.
01:17 So, what we're doing is run like a myth, but we're doing a few different things. We're going to have some new speakers. We're going to have new picks. We're going to have a new panel where all of us there are on stage able to answer questions at the end. We're going to have free gifts for the first 200 attendees.
01:37 So, show up early so you get your free gift. We even have a small gift for all the companies and yourself. So, we're trying to make a splash, frankly. But it's very exciting and I can't wait to host it. And yeah, it's the pack room November 5th here in Vancouver. >> Yes, right here in Vancouver. Really looking forward to that.
01:57 And sounds like the early bird gets the worm there. So, we'll be looking forward to it and we'll have all the details in the video description for anybody who wants to sign up. >> Great. >> Let's get into what's happening in the markets today. So, I was looking back. We actually haven't spoken since January. So, that's a pretty big gap.
02:15 >> Yeah. >> Yeah. I wondered if you could catch us up on where we're at right now in the cycle for gold and silver. That's a great question because in January, you remember that's when gold and silver were soaring and now we've had this pretty healthy correction. Gold's on a $1,000 off sale right now.
02:37 What I'm personally looking at, and I think you're going to ask me about my strategy, but everything I'm doing and recommending and personally doing is based on a couple things. One is the correlation we have right now between our current gold price action and the 1976 to 1980 bull market in gold. If you put those together in a chart, the correlation coefficient between those two time periods is 94%.
03:09 94% correlation between what gold's doing now and what it did during that bull run. That's amazing. That's almost tick for tick. And if you look at the chart, I'll be showing this at the September myth here later this week. If you look at the chart, it's amazing just how much these things are tracking together.
03:30 And there was a big correction in the middle of that bull market. And we've had a big correction now, tracking almost at the same time. What's interesting is if we continue to match what happened then, the gold price would have to more than double. So, we're looking at $9 to $10,000 and it would hit that within less than two years. I look at that now.
03:53 I'm not saying that's what gold's going to do. But what I'm pointing out is that we are matching what happened back then. This is not a 2011 bull market. This is a 1970s type of bull market. And nothing matches perfectly, but holy crow that is such a strong correlation. So I'm basing a lot of things of what I do there and this correction was healthy.
04:20 It's normal in the grand scheme of things. So that's how I look at the current market. >> Yeah, that's pretty amazing. I don't think I would have guessed that they match up quite so strongly. I wonder so if we look back on what was happening then I think a lot of people after the summertime have been wondering all right is the bottom in for gold and silver? Is there anything you can tell us about that? >> Who knows, everybody guesses at that.
04:48 Every analyst, every technical analyst, chartist, everybody's trying to guess at that. What I can tell you is this. We had a 30% correction in the gold price during the great financial crisis. We had a 28, 29% correction during the COVID crash. Our correction now is 27%. So you're getting good value now even if you don't happen to snag the very bottom of it.
05:20 And what I encourage people to do is not try to snag the bottom because inevitably you'll miss it and it'd be sheer luck if you get it. So you want to look at what kind of value you're getting now. And right now you can get tremendous value whether it's on the gold price or the silver price or mining equities.
05:40 Right now they fell more than gold and silver generally speaking. So they offer great value now. So I'm looking for value and I am personally investing aggressively. So I think this time period right now until we see the next up leg which could be in a week or 6 months. We don't know. But you're getting great value now and it's a great time to build a position.
06:03 And I want to point out one more thing if I can. [laughter] I'm talking too long here. But no, >> because it's so volatile right now, the volatility of gold and silver is abnormal. It's very high right now. It is not usually this volatile. But because it's volatile, that means stink bids, putting a bid below market value, you can get those filled much easier now than you can normally.
06:29 And so it's a great time to put a stink bid in, bidding below the current price, and in that volatility and in some people selling because they get tired or whatever their reason might be, that gives you a chance to get a great price on a good asset. >> We definitely want to get into your strategy right now.
06:54 But before we do I want to hone in on another point that you brought up. So, you mentioned the next up leg for gold and silver. We don't know when that's going to happen. I was going to ask you, is there a particular catalyst that you're looking for? Any further comments you would add there? >> Oh, that's a great question.
07:09 And the answer is, well, we don't know what's behind door number one, door number two, door number three, etc. So, it could be so many different things. And it is admittedly more volatile now because of Trump and all his >> statements and tweets and this and that.
07:31 So I'm not watching any particular thing to see, okay, that's going to be the catalyst. I don't like to do that. I like to be ready for whenever it might happen and whatever that catalyst might be, which means that you need to own a meaningful amount of physical gold that's under your control and silver.
07:49 But you want to start with gold and have that under your control. And that's your hedge. That's your insurance. That's your way to not only protect yourself from whatever may come, but to benefit and profit from it. So, you want to start there and have a meaningful amount of gold and then just wait for that catalyst.
08:10 But what's interesting is we have all these different catalysts and yet we've never dealt with debt, sovereign debt, money printing, fiat currency. For the first time in global world history, all currencies are fiat. That's never happened in history before. That's another potential thing that could blow up.
08:32 So there's a lot of big picture catalysts out there that have not played out yet, and you want to make sure you own enough gold for those. And in the meantime, we'll see what's behind door number one and door number two. But the last point I'll make, and cut me off if I'm talking too much, but the last point I want to make is I went back and looked at all the crises and the catalysts that were there for gold that happened and almost half of those, Charlotte, were black swans, meaning people didn't
09:03 expect it. They didn't know it was coming. COVID being the obvious recent example. So you have to be ready for a lot of different things. So, focus on yourself and your portfolio, your gold holdings, your silver holdings. That way, you're prepared for whatever that catalyst may be and whenever it may come. >> Yes.
09:23 I remember from talking to you earlier in the year, you're really shifting toward being prepared versus trying to time it exactly correctly, which of course nobody can. All right, let's get into talking about what you're doing today. And I want to go back to that January time. Look at this year because I wonder during these volatile price times for gold and silver, have there been times when you've taken profits in the mining sector? >> Ah, good question.
09:48 That came up a lot in January and we were saying to people in our paid letters, look, you should probably take profits here because it was a mini mania. We had one in October, we had another one in January, and things ran up pretty aggressively, especially with the equities. So, we did tell people, hey, you should probably take profits, but I didn't.
10:09 >> Okay? [laughter] >> And the reason being, and of course, my holdings have dropped in value since then. But the reason I didn't is because of one thing. I had a very large cash holding. I had a lot of cash. And so therefore, I was prepared without taking profits to just add to any holding I wanted to if it dropped significantly in price.
10:34 And so that's how I handled that particular situation. So if you ask yourself, okay, should I take profits or not? Well, back up for a second, look at your cash value. If your cash value is high, then maybe you don't need to. If it's low, then you probably should.
10:52 I do advise in the book take profits if you get a double. You always want to do that and that is a good motto to live by because that is how I built my portfolio bigger over time. So that's usually a good mandate for yourself is to take profits. But I didn't know how high things were going to go at the time and some equities have dropped significantly in value but here's the thing, some have not.
11:18 And if I had taken profits and I look at those now, I'm like, that's not that much of a discount over what I already own. So I didn't, but that's a good way to look at it is your cash balance. >> Yeah. Yeah. Sometimes it's a little bit do as I say, not as I do. So, I think that's fair enough. All right. So, you had all of this cash.
11:39 Have you been deploying it? How's your cash position looking now? Yeah, it's still high because we're still volatile. We don't know what's going to happen, but yes, as I said, I have been investing aggressively, a lot of private placements. But a lot of holdings that we're personally recommending in paid prospector or paid letter, we've had new picks and we want to capitalize on that.
12:04 We want to introduce people to these new companies now before the next leg up so they can get a good price now. So, I've been buying those. Either I already own them or we give people first crack and then we will take a stab at getting shares. But yes, I've been investing aggressively.
12:24 I would say half in private placements and half in what's in Peter Prospector. >> And so, where are you seeing the best opportunities right now? Are there any themes that are emerging in your portfolio? >> Ah, good question. You know what I'm focused on? I'm focused on one thing and I'm focused on companies.
12:43 I'm focused on mining companies. Gold will do its thing, silver will do its thing, copper, uranium, critical minerals, etc. But I'm looking for companies that offer value and compelling reasons to own them now, regardless of what the metal might be. Now, there are some metals that I might shy away from because I don't know if they're necessarily in a bull market, though, you have to admit that right now we are in the beginning cycles of a major commodity bull market.
13:21 So, I acknowledge that, but again I'm focused more on mining companies and that's what I'm looking for: do they pass the criteria I outline in the book? Do they have compelling reasons right now and do they have catalysts on tap that could make this stock double by next year or so? Well, and speaking of catalysts, I was going to ask, as we're coming out of the summer, this is when companies are out there doing a lot of drilling.
13:49 Are there any results that you're particularly excited for, watching for right now? >> Results. Yeah, that's a good point to bring up because two years ago when this bull market was kind of just getting started, raises were at this level and now the financings have been multiples of what they could raise just a year or two ago.
14:11 And so what that means is that the company that could raise a million, now they can raise five. The company that could raise five is now raising 20. We've seen $50 million raises out there. What that means for us as investors is there's a lot more catalysts coming. There's a lot more drill results.
14:30 There's a lot more resource definition. There's a lot more evaluation studies being done. There's a lot more companies that are gearing up to go into production. That category I really like. So, that gives us more catalysts than usual to look for. For us, I'm basically in four categories.
14:50 Prediscovery, higher risk, higher reward. Pre-resource, they've made a discovery, now they're drilling to see how big it is before they declare a resource. Companies that have a resource, I call them resource builders. In other words, they're going to grow that resource, and I don't mean by 10 or 20%.
15:06 I mean a double or triple in that resource. I like companies in that category. And then one of my favorite, one of the lowest risk ones yet highest reward is the pre-producer, the one who declares a construction decision all the way up to first pour. You have a 90% chance of a 90% return in that 18-month period. That's what history and the data shows.
15:29 Not every company's going to do that. So you still got to pick the best. But I really like that. I mean that's amazing you have that kind of potential in one of the highest risk sectors in the world out there, right? So anyway I look at those four categories, that's where I'm personally focused. >> So we've got many different opportunities investors can pursue, these companies have money right now, they're going to be coming out with results. How is sentiment in the sector among investors? Is it matching what you're
15:59 seeing out there? >> You know what, that's a great question because the gold and silver prices have come down. The retail investor is kind of weak and maybe left or sold or is disinterested or something. But I will tell you that institutional investors, fund managers, high-net-worth investors, they are still aggressively investing and that's where, like I mentioned, I'm focused with a lot of my personal funds right now.
16:29 So I'm following the big money, not the small money. And I can tell you the big money, regardless of how you feel about things, what your opinion is, what your assessment is, what your personal sentiment might be about the market, I can tell you that this group of big money is actively and aggressively investing right now.
16:51 >> Well, I think that's good to hear and definitely it makes sense to be following along there. And I know you mentioned earlier that you're looking at companies that will succeed regardless of metals prices, but I wonder outside of gold and silver, where are you seeing opportunities right now? >> Well, the clear opportunities are with copper and uranium.
17:10 Some think copper is the better bet, some think uranium is. I don't care. I'm in both. And for similar reasons, they both have a supply demand issue, a supply demand crunch that's coming. That's inevitable. And they both have political support you need because of green energy obviously. They both have environmental support.
17:32 We're rebuilding grids out there and copper is highly necessary for something like that. So they both have these forces behind them that are going to push those prices higher, which means the equities, the better equities at least, are going to outperform the metal itself. So I'm definitely in those.
17:55 And we actually started a brand new newsletter. It's called Pater Discoveries, and that is for mining opportunities that are outside of gold and silver. We kept seeing, me and the team, we kept seeing, oh, look at that. Look at that stock go because of this, and it wasn't gold and silver, so it wasn't in the portfolio. So, we're like, we got to capitalize on this. We got to focus on these.
18:18 So, we started a new letter that will have everything outside of gold and silver in it. Copper, uranium, critical minerals, some other minerals that we're looking at. We have a couple picks there. So, we just launched it. There's a brand new copper pick in there we're pretty excited about.
18:36 It's not too late to buy it. We have three more picks coming up before our summit in November. So, we're pretty excited about it. We want to capitalize on any mining opportunity we see. And so that's what we're focused on in that letter. >> Well, that is exciting. I didn't even know that. So, great to bring that up as well.
18:56 And just a sidebar on critical minerals. I think this space is obviously getting headlines. It's getting attention from investors, but it can be so tricky, I think, for investors to understand >> what's really critical, which one should I focus on? So, how do you address that when you're looking at the space? >> That's a great question.
19:13 Because they're not all going to perform as well and some might be a critical mineral but nobody cares and the metal is not going anywhere. Or they're oversupplied even though it's a critical mineral. Some may come from overseas, some may not. So, what I like to do is not look at the basket or the group, but look at an individual metal to see if that's something that's probably going to be in a bull market or at least sustain a move higher.
19:41 And then of course look at the companies with that metal and see if any of them offer really good value with major catalysts on deck. So, I don't look at the group of critical minerals because you're right, it can be tricky. Rare earth elements is a little opaque, so it's hard. Critical minerals, they kind of run a lot, so I don't want to chase.
20:04 That's important not to do. So we're open, but we want something that offers good value wherever it may be. >> Yeah. Yeah. So treating them as individuals at the mineral and the company scale. That makes a lot of sense. >> All right. We're coming to the end. I have a fun question for you.
20:23 I think it's fun. So if we're looking at the resource sector today, is there anything you think investors are missing right now that you really want them to be aware of and notice? I would say to the average retail investor to not give up on this sector and I do see it with some, there are many that are holding on.
20:42 We get emails every day, people that are holding on. But we do get some of people that are clearly giving up or they cancel their subscription or we get emails saying this bull market's over. What I would encourage you to do is look at history. Look at the catalysts that are still out there that haven't even begun to play out yet for gold and then look at what institutional investors and fund managers are doing.
21:13 You add all that up, the correlation to the 1970s, and you can assess for yourself, okay, is this over or is there going to be another meaningful leg higher in this sector? And that's what I believe and it's based on the things we've talked about and that's why I'm investing aggressively. So my message to the retail investor is don't give up yet.
21:34 I don't think this is the time to give up. In fact, I'm doing the opposite. I think you could look at prices right now and get some good value on things and I would stay invested. >> I think those are nice words to be wrapping up on. And so in short, going back to our longtime theme, no phone call yet from Jennifer Aniston, >> right? Yeah.
21:55 No, she did not call in January either, and she certainly hasn't called now. But hey, if gold goes to 10,000, I just might get that call and I'll let everybody know if I do, okay, >> because that would be the time to sell. >> Yeah. Yeah, we'll be checking in at that time. Well, thank you so much for coming on today to talk about what's going on in the markets, upcoming events.
22:12 As I said, we'll have links in the video description if people want to be signing up. And we'll see you soon once again in person here in Vancouver. >> I'm so excited about our summit. So, I hope everybody will come and turn out and again, free gift if you're the first 200 attendees. So, I hope to see you all there.
22:29 >> Perfect. Me as well. And once again, I'm Charlotte McLeod with investingnews.com and this is Jeff Clark with The Gold Advisor. >> Thank you for watching. If you like this video, make sure [music] you hit the like button and subscribe to our channel. We'd also love to hear your thoughts, so leave us [music] a comment below.