David Nicholas: Gold Ready to Catch a Bid, What to Watch Now

David Nicholas of NicholasXFUNDS is near-term bullish on gold, saying the setup is “very constructive” and that a 8% to 10% move higher over the next 30 days would not be surprising. He also flagged silver as a co-leader, calling gold and silver “the next trades to do really well here,” which keeps the immediate bias supportive for the precious-metals complex. The interview was filmed on June 16, 2026, with the Fed meeting explicitly on the agenda, so the call appears tied to the macro backdrop rather than a metal-specific supply shock. While the transcript is unavailable, the available description suggests the argument is centered on a gold bid emerging into a policy event, with silver expected to participate if the move broadens. For traders, the key takeaway is that near-term upside is being framed as a 30-day trade rather than a long-dated structural call. The main risk to the view is a hawkish Fed surprise or a rebound in real yields/USD that delays the bid; conversely, a softer policy tone could validate momentum buying in both XAU and XAG.