Video: Wheaton forecaster challenges consensus view on gold, PGM prices

Wheaton Precious Metals’ (TSX: WPM, NYSE: WPM; LSE: WPM) market researcher Emil Kalinowski challenges the conventional wisdom on gold, platinum and palladium. He blasts analysts as “crazy” for forecasting falling gold prices through 2030.

If history and inflation hold true, speculative demand has always driven gold higher, he argued in an interview. Futures markets, he notes, paint a far more bullish picture, exposing a disconnect between price forecasts and supply and demand fundamentals.

“I think the analysts are not talking to each other,” he said January in Vancouver. “The supply and demand team is bullish, but the price team is bearish.”

Kalinowski takes a similarly skeptical view of platinum forecasts. While analysts remain bullish, he argues they underestimate the market’s potential. He warns that platinum stocks will hit a 47‑year low this year. It’s a signal that inventories will continue to shrink and push prices higher faster.

On palladium, Kalinowski warns of a prolonged price slump.

Watch below the full interview with The Northern Miner’s western editor, Henry Lazenby.