Beyond Markets The Week in Markets: Lower rates, higher precious metals, and the “Holy Grail” of Artificial General Intelligence
Dec 1, 2025
The podcast dives into the impact of anticipated rate cuts, resulting in a weakening dollar that’s propping up precious metals like gold and silver. Silver's impressive cup-and-handle pattern signals a bullish outlook. On the tech front, Alphabet’s affordable semiconductors are stirring competition with Nvidia. The ultimate goal, however, is Artificial General Intelligence, which poses both exciting prospects and potential risks for humanity.
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Market Pricing Signals Big Fed Cuts
- The futures market prices in substantial Fed rate cuts through next year, implying a dovish outlook for monetary policy.
- Mark Matthews notes this outlook is supported by weak retail and producer price data signaling room for easing.
Prepare For Lower Fed Funds
- Positioning should assume materially lower Fed funds rates over the next year, around 3–3.25%.
- Matthews recommends preparing for dollar weakness and sectoral impacts from easing policy.
Lower Rates Boost Precious Metals
- Substantially lower rates are typically bearish for the dollar and bullish for precious metals.
- Mark Matthews highlights silver's breakout and gold's rapid recovery as examples of this dynamic.