Why Simon Thinks Gold Has Bottomed | Simon Marcotte - IAM Gold Corp.
The Deep Dive Aug 18, 2026
Summary
Simon Marcotte argues gold has bottomed after the H1 2026 correction driven by a hawkish Fed and weak Chinese demand.
Chinese gold demand softened alongside paused money supply growth amid ongoing real-estate weakness in H1 2026.
China has now restarted money supply growth, which the guest expects to revive Chinese gold buying into 2027.
The guest expects the Fed to regain flexibility to turn dovish again going into 2027, a tailwind for gold.
Marcotte flags the war in Iran as a long-term geopolitical tailwind investors should not ignore for gold.
Simon Marcotte's takeaways
- Top takeaway Simon now argues gold has bottomed following its H1 2026 correction
- He attributes that correction to a hawkish Fed and softer Chinese demand
- He links Chinese gold buying to money supply expansion amid weak real estate
- He flags China's restart of money supply growth as a near-term positive for gold
- Looking to 2027, he expects the Fed to regain dovish flexibility