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It's 55 years since Nixon took the world off the gold standard. Gold demand: 45% from India and China, mostly jewelry for gifts, but is a huge variable as the gold price fluctuates; 5% used in electronics and medical devices, but gold is expensive so other materials are used; 22% from central banks who keep buying more gold, and 28% from investments like ETFs, which is the speculative part. He likes gold and is bullish, because governments are inept at managing tax dollars. Gold will rise in the long run, but won't break out but go sideways for many years.

He predicted a return to 72 cents, but now predicts a fall to 70 cents, perhaps 68, because we are the weakest G7 economy with little improvement. Also, our taxes our high compares to peers. He's been buying USD during this rally.

He bought it 2 months ago and is flat, but likes it here now. The weakness after earnings was due to levered ETFs and margined accounts starting in Korea. But that's behind us. He thinks AI spending will continue. 

The PE has fallen from 40x PE to 22.5X forward PE, so he's enthusiastic. They have a huge content problems, maybe bring in live programming. The stock is cheap now. 

It's fallen from recent highs for no reason. It's cheap here and the turnaround is well under way.

It's a 2027 story on compute which will enjoy great tailwinds for the rest of the year.

The US doesn't recognize TFSAs the way it does RRSPs. So you can hold ETFs in your TFSA, just make sure you know which ones serve the right purpose. Stick to the mainstream ETFs such as XIU, XIC, and S&P 500 ones.