Matthew Piepenburg: Weathering the Storm of Forced Gold Selling and Rising Yields

Matthew Piepenburg: Weathering the Storm of Forced Gold Selling and Rising Yields

This is a free preview of a paid episode. To hear more, visit vblgoldfix.substack.com [https://vblgoldfix.substack.com?utm_medium=podcast&utm_campaign=CTA_7] Matthew Piepenburg: Weathering the Storm of Forced Gold Selling and Rising Yields In the latest installment of the GoldFix-Competent Investor [https://competentmanpod.substack.com/] Interview Series, Matthew Piepenburg, Partner at Von Greyerz Gold Switzerland, joined Tom Bodrovics to discuss the medium-term outlook for gold. Piepenburg acknowledged near-term headwinds, including forced gold selling by nations seeking liquidity and rising sovereign bond yields, but argued both ultimately strengthen gold’s long-term case. He contends that gold’s appreciation since 2000 reflects the steady debasement of fiat currencies rather than a traditional bull market. Record central bank buying, accelerating de-dollarization efforts, and growing distrust of sovereign debt are increasing gold’s role as a global settlement asset, while retail investors remain largely underallocated to what he views as the premier vehicle for long-term wealth preservation. Timestamps 00:00:00 – Introduction00:00:55 – Headwinds: Forced Gold Selling00:04:14 – Rising Yields and Their Impact on Gold00:05:31 – Central Banks Continue Accumulating Gold00:10:11 – Retail vs. Central Bank Demand00:16:14 – Gold Swaps and Repatriation00:21:48 – Geopolitics and Currency Wars00:28:25 – UAE Exits OPEC and the Petro-Dollar Question00:33:22 – Concerns Over Stock Market Valuations00:42:20 – Federal Reserve Liquidity and Inflation00:47:44 – Energy Costs as an Inflation Driver00:51:40 – Concluding Thoughts

Gold, Silver, NVDA Technicals

This is a free preview of a paid episode. To hear more, visit vblgoldfix.substack.com [https://vblgoldfix.substack.com?utm_medium=podcast&utm_campaign=CTA_7] Housekeeping: Support Independent Media Featured Posts on News Sites : Scottsdale Mint — Copper: Goldman Raises Price Targets on US Stockpiling [https://www.scottsdalemint.com/articles/2026/copper-goldman-raises-price-targets-on-us-stockpiling/] Zerohedge — Silver: When Paper Shorts Meet Physical Truth [https://www.zerohedge.com/news/2026-06-03/silver-when-paper-shorts-meet-physical-truth] Yahoo — Russia's Missing Gold Tonnes Suddenly Appear [https://finance.yahoo.com/community/post/00201ed6-1105-40e4-9e6a-c82325f2b19f/] X.com — Mandeb's New Burden [https://x.com/Sorenthek/status/2061798758963187993] Featured Analysis: News & Analysis: Coming Soon Data on Deck: Jobs * MONDAY, JUNE 1 ISM * TUESDAY, JUNE 2 Job openings April 6.9 million * WEDNESDAY, JUNE 3 8:15 am ADP employment * THURSDAY, JUNE 4 8:30 am Initial jobless claims * FRIDAY, JUNE 5 U.S. employment report JPMorgan sees 75k jobs being added, versus the Street’s estimate of 85k and 115k jobs in the prior print. For the unemployment rate (U.3) it sees 4.3% vs. 4.3% prior. For Average Hourly Earnings, +0.3% MoM and +3.4% YoY. The market should be muted in its reaction given the iran war news headline dominance ***Please support Independent Media [https://vbl-goldfix-store.myshopify.com/] Buy a hat, mug, or hoodie today*** or Buy a Coffee [https://ko-fi.com/goldfix] for the GoldFix intern Charts and Final Market Check:

Forget Turkey, CB Gold Demand is Broadening

This is a free preview of a paid episode. To hear more, visit vblgoldfix.substack.com [https://vblgoldfix.substack.com?utm_medium=podcast&utm_campaign=CTA_7] Housekeeping: Support Independent Media Featured Posts on News Sites : Scottsdale Mint — Copper: Goldman Raises Price Targets on US Stockpiling [https://www.scottsdalemint.com/articles/2026/copper-goldman-raises-price-targets-on-us-stockpiling/] Zerohedge — Silver: When Paper Shorts Meet Physical Truth [https://www.zerohedge.com/news/2026-06-03/silver-when-paper-shorts-meet-physical-truth] Yahoo — Silver: When Paper Shorts Meet Physical Truth [https://finance.yahoo.com/community/post/6c5b029e-adf2-4239-9b3f-ba3937dd1014/] X.com — Mandeb's New Burden [https://x.com/Sorenthek/status/2061798758963187993] Featured Analysis: News & Analysis: Coming Soon Data on Deck: Jobs * MONDAY, JUNE 1 ISM * TUESDAY, JUNE 2 Job openings April 6.9 million * WEDNESDAY, JUNE 3 8:15 am ADP employment * THURSDAY, JUNE 4 8:30 am Initial jobless claims * FRIDAY, JUNE 5 U.S. employment report * SATURDAY, JUNE 6 Federal Reserve governor Michael Barr speech ***Please support Independent Media [https://vbl-goldfix-store.myshopify.com/] Buy a hat, mug, or hoodie today*** or Buy a Coffee [https://ko-fi.com/goldfix] for the GoldFix intern Charts and Final Market Check:

Gold Overtakes US Treasuries as Reserve Asset

This is a free preview of a paid episode. To hear more, visit vblgoldfix.substack.com [https://vblgoldfix.substack.com?utm_medium=podcast&utm_campaign=CTA_7] Housekeeping: Support Independent Media Featured Posts on News Sites : Scottsdale Mint — Higher in Steps: UBS Sees Copper Marching Toward $15,500 [https://www.scottsdalemint.com/articles/2026/higher-in-steps-ubs-sees-copper-marching-toward-15500/] Zerohedge — Higher in Steps: UBS Sees Copper Marching Toward $15,500 [https://www.zerohedge.com/news/2026-05-28/higher-steps-ubs-sees-copper-marching-toward-15500] Yahoo — Mandeb's New Burden [https://finance.yahoo.com/community/post/300247f4-ae7b-4ccf-9267-515a25062f57/] X.com — Mandeb's New Burden [https://x.com/Sorenthek/status/2061798758963187993] Featured Analysis: News & Analysis: Coming Soon Data on Deck: Jobs * MONDAY, JUNE 1 ISM * TUESDAY, JUNE 2 Job openings April 6.9 million * WEDNESDAY, JUNE 3 8:15 am ADP employment * THURSDAY, JUNE 4 8:30 am Initial jobless claims * FRIDAY, JUNE 5 U.S. employment report * SATURDAY, JUNE 6 Federal Reserve governor Michael Barr speech ***Please support Independent Media [https://vbl-goldfix-store.myshopify.com/] Buy a hat, mug, or hoodie today*** or Buy a Coffee [https://ko-fi.com/goldfix] for the GoldFix intern Charts and Final Market Check:

The US is Hoarding Copper

Housekeeping: Support Independent Media Featured Posts on News Sites : Scottsdale Mint — Higher in Steps: UBS Sees Copper Marching Toward $15,500 [https://www.scottsdalemint.com/articles/2026/higher-in-steps-ubs-sees-copper-marching-toward-15500/] Zerohedge — Higher in Steps: UBS Sees Copper Marching Toward $15,500 [https://www.zerohedge.com/news/2026-05-28/higher-steps-ubs-sees-copper-marching-toward-15500] Yahoo — Washington's Trilogy Window [https://finance.yahoo.com/community/post/9c0380b0-701c-40ce-bc2a-02eb26051426/] X.com — Putin's Budget Pushback [https://x.com/Sorenthek/status/2061500669689806865] Featured Analysis: News & Analysis: Coming Soon Data on Deck: Jobs * MONDAY, JUNE 1 ISM * TUESDAY, JUNE 2 Job openings April 6.9 million * WEDNESDAY, JUNE 3 8:15 am ADP employment * THURSDAY, JUNE 4 8:30 am Initial jobless claims * FRIDAY, JUNE 5 U.S. employment report * SATURDAY, JUNE 6 Federal Reserve governor Michael Barr speech ***Please support Independent Media [https://vbl-goldfix-store.myshopify.com/] Buy a hat, mug, or hoodie today*** or Buy a Coffee [https://ko-fi.com/goldfix] for the GoldFix intern Charts and Final Market Check: * MONDAY, JUNE 110:00 amISM manufacturingMay52.7%10:00 amConstruction spendingApril0.6%11:50 pmMinneapolis Fed President Neel Kashkari speech in South KoreaTBAAuto salesMay15.9 million * TUESDAY, JUNE 28:55 amCleveland Fed President Beth Hammack speech10:00 amJob openingsApril6.9 million * WEDNESDAY, JUNE 38:15 amADP employmentMay109,0009:00 amFederal Reserve governor Michael Barr speech10:00 amFactory ordersApril1.5%10:00 amISM servicesMay53.6%2:00 pmFed Beige Book * THURSDAY, JUNE 48:30 amInitial jobless claimsMay 308:30 amU.S. productivityQ10.8%8:30 amRichmond Fed President Tom Barkin speech * FRIDAY, JUNE 58:30 amU.S. employment reportMay115,0008:30 amU.S. unemployment rateMay4.3%8:30 amU.S. hourly wagesMay0.2%8:30 amHourly wages year over year3.6%3:00 pmConsumer creditApril$24.8B * SATURDAY, JUNE 612:00 pmFederal Reserve governor Michael Barr speech This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit vblgoldfix.substack.com/subscribe [https://vblgoldfix.substack.com/subscribe?utm_medium=podcast&utm_campaign=CTA_2]