Gold's Worst Quarter Since 2013, and Where the Smart Money Is Moving Now | Jeff Sarti

Gold just had its worst quarter since 2013 while stocks had their best since 2020, so where does a $3.5 billion money manager invest now? Jeff Sarti of Morton Wealth on what to do after the gold pullback, the new Fed chair, and the AI trade.Jeff Sarti, chief executive of Morton Wealth, joins Kitco News anchor Jeremy Szafron for his first appearance on the channel. He explains why he's underweight stocks near "1999 dot-com" levels, why he calls passive investing a "mindless, price-agnostic" force driving the market, why the gold community shouldn't write off new Fed chair Kevin Warsh, why "nobody in the West owning gold" is the most bullish thing about it, how much gold he actually holds, the one signal he's watching (the bond market), where he'd deploy new capital today, and the single biggest mistake he says investors are making right now. A behavior-and-allocation conversation, not a price forecast, you decide what fits how you invest.Recorded June 30, 2026.00:00 The Divergence No One Can Explain 01:00 Why He's Underweight Stocks Near 1999 Levels 03:00 The "Mindless" Force Driving the Market 04:30 Is This an AI Bubble, or Just Euphoria 06:30 Stocks at Highs, Confidence at Lows 08:00 The Yen, the Carry Trade, and Japan's Warning 10:00 Is the New Fed Chair "Volcker 2.0" 13:30 Why Higher Rates "Probably Won't Work" 15:00 Why Nobody Owning Gold Is Bullish 16:00 Why Gold Really Corrected 19:00 How Much Gold Should You Actually Own 21:00 The One Signal He's Watching 22:30 Two Investors, One Answer 26:00 Where He'd Put $10 Million Today 28:00 The Private Credit Red Flag 31:30 The Biggest Mistake Investors Are Making#gold #goldprice #investing__________________________________________________________________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: https://www.instagram.com/kitconews  Facebook: https://www.facebook.com/KitcoNews  LinkedIn: https://www.linkedin.com/company/kitconewsListen to the PODCAST on🎧 Spotify: https://open.spotify.com/show/1My4WgtF0ZhUnxkxDLoJof🎧 Apple Podcasts: https://podcasts.apple.com/us/podcast/kitco-news/id1842889233🎧 All podcast episodes available here → https://kitconews.buzzsprout.comVisit: 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/goldLive silver price and chart: https://www.kitco.com/charts/silverLive crypto market data: https://www.kitco.com/price/cryptoLearn 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.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.