Michael Howell: Bullish on Gold, Cautious on What Comes Next

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Is gold facing another correction before the next major liquidity upswing? Michael Howell of CrossBorder Capital joins Trevor Hall on Mining Stock Daily to discuss global liquidity, China’s gold demand, the debt refinancing wall, and his outlook for 2027. Recorded in London during LME Week, this conversation explores why Howell believes financial markets are entering a difficult phase—even as parts of the real economy remain strong. He explains how AI capital spending and rising refinancing needs compete for liquidity, and why Treasury bills, bank reserves, and repo markets deserve more attention than interest rates alone. Howell also lays out his case that China’s monetary expansion is an…