“The Physical Market Is Taking Over the Paper Market” | Nomi Prins

Video Description

Gold and silver are commanding attention, but Dr. Nomi Prins says the more important shift underway is structural, not cyclical. Rising debt stress, institutional friction, and supply constraints, she argues, are reshaping how capital moves through the global financial system. Speaking with Kitco News at VRIC 2026, the geo-macro economist and Prinsights Global founder said, “we are really in the beginning of a major super cycle in commodities,” driven not only by uncertainty but by shortages that “you can’t just snap your fingers and have them go away.” She said metals such as silver, copper, and platinum face long development timelines that limit how quickly supply can respond. Prins also pointed to central banks reducing reliance on sovereign debt and prioritizing gold, while banks and institutions increase exposure to physically backed markets. During periods of political and financial stress, she said capital moves toward assets that cannot be diluted or controlled, noting that “the physical market is actually taking over the paper market.” While volatility remains part of the cycle, Prins said the forces supporting hard assets and select miners remain firmly in place. Recorded January 26, 2026. Special thanks to our sponsor, Discovery Silver. Visit https://discoverysilver.com/ to learn more about the company, its latest news, and investor materials. 00:39 – Gold and Silver Market Dynamics 02:55 – Institutional Friction, Lawsuits, and Market Uncertainty 05:13 – Central Banks, Sovereign Funds, and Hard Asset Rotation 08:47 – Mining Supply Constraints and Sector Insights 11:04 – Forecasts, Volatility, and Investment Strategy 14:07 – Government Involvement and Strategic Commodities 16:42 – Energy, Oil, and Other Commodity Outlooks Follow Jeremy Szafron on X: @JeremySzafron (https://x.com/JeremySzafron) Follow Kitco News on X: @KitcoNewsNOW (https://x.com/KitcoNewsNOW) Follow Dr. Nomi Prins on X: @NomiPrins (https://x.com/NomiPrins) #Gold #Silver #Commodities #HardAssets #MiningStocks #SupplyConstraints #CentralBanks #Debt #MonetaryPolicy #NomiPrins #VRIC2026 #KitcoNews __________________________________________________________________ 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.