The Fed Just Quietly Backstopped Japan, and Gold Noticed | This Week In Focus

Gold ran about $300 in days, and copper set an all-time record in New York, and neither move had much to do with anyone wanting more of them. This week the Fed quietly opened a window letting Japan borrow dollars against the American debt it already owns, Congo banned copper and cobalt exports, a quarter of the world's sulfuric acid supply vanished, and global debt hit a record $353 trillion.From Kitco News, Jeremy Szafron breaks down the week with three guests who don't agree on much: chart trader Florian Grummes, who tore up his cash position and called it "back to money printing"; economic historian Phillip Magness on why a trillion dollars of U.S. gold still sits on the books at $42 an ounce; and Don Durrett, who owns 168 mining companies and flatly refused to name his top three. Recorded August 6, 2026.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.