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Gold Fell Below $4,000 Because It’s Treated ‘Like an AI Stock,’ Says Peter Boockvar Analytics Table

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About Gold Fell Below $4,000 Because It’s Treated ‘Like an AI Stock,’ Says Peter Boockvar

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Peter Boockvar says the S&P 500 has become "one idea," and that idea is AI. The chief investment officer at OnePoint BFG Wealth Partners and editor of The Boock Report tells Kitco News anchor Jeremy Szafron at the New Orleans Investment Conference that investors should be "reassessing their exposure," because the market is "very much riding on one idea." Boockvar says gold's drop below $4,000 on Oct. 30 looked like forced selling, with gold trading in a "very unusual tight correlation" with the S&P 500. Gold "is treated like an AI stock today, which it's not," he says, and the two big headwinds for gold this year, rising real rates and a strong dollar, are starting to shift. He argues the AI trade now matters to the Fed's December decision, calls the September hike "a tweak," and urges investors not to make buy and sell decisions based on what they think the Fed will do "to save the day." He also covers what's hiding inside 3.4% GDP growth, Big Tech's cash burn, why Japan matters for U.S. yields, France's bond stress, who is buying record U.S. Treasury issuance, why the deficit could widen sharply if the AI trade cracks, whether 60/40 works again for retirees, and why he still likes energy stocks. Read The Boock Report: https://peterboockvar.substack.com This interview was recorded on Oct. 30, 2026. Follow Jeremy Szafron on X: @JeremySzafron (https://twitter.com/JeremySzafron) Follow Kitco News on X: @KitcoNewsNOW (https://twitter.com/kitconewsnow) Follow Peter Boockvar on X: @pboockvar (https://twitter.com/pboockvar) 0:00 Big Tech's $900B Loss and Gold's Drop 0:56 Why the AI Trade Now Matters to the Fed 3:37 Will the Fed Hike in December? 5:19 Don't Count on the Fed to Save the Day 6:20 What's Hiding Inside 3.4% GDP Growth 7:38 Warsh's Fed and the "Wrong Reason" to Sell Gold 9:52 What Has to Happen for Gold to Turn 11:50 Why Gold Is Trading Like an AI Stock 12:58 Big Tech's Cash Burn and the AI Dominoes 17:29 The Non-AI Trade 19:12 Is Your Retirement Fund Riding on One Idea? 20:01 Fewer Fed Votes, and Does Politics Reach the Fed? 21:17 Why Japan Matters for Your Interest Rates 23:30 France and the Next Bond Scare 26:25 Who's Buying America's Debt, and a 10% Deficit Risk 28:48 What Gold Does If Bond Buyers Stop 29:37 Does 60/40 Work Again for Retirees? 30:50 The Mood at the New Orleans Conference 31:50 Gold Stocks, Margins and Diesel Costs 33:21 Why He Still Likes Energy Stocks 34:10 Wrap-Up #Gold #StockMarket #AIStocks __________________________________________________________________ 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/kitconews Listen 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.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.

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