Steve Barton: Gold, Silver, Uranium, Oil — What I'm Buying and Selling

Steve Barton says he is rotating out of oil stocks and into gold, silver and uranium after the recent selloff, arguing that the fundamentals for gold have not deteriorated and in fact look better at lower prices. His core view is that rising debt, persistent deficits and ongoing government spending keep the macro backdrop supportive for precious metals, with the latest decline making the sector a more attractive entry point. The key takeaway for traders is that this is a pro-gold/pro-silver allocation call based on macro deterioration rather than near-term technicals. Barton’s comments frame the move as a better risk/reward after the selloff, while also highlighting selective interest in nickel and uranium, suggesting a broader hard-assets rotation rather than a pure gold-only thesis. Near term, the watchpoint is whether the post-selloff bid in gold and silver broadens into sector flows or remains a tactical bounce. The interview does not provide specific price levels or flow data, so it is better read as sentiment input than a tradable catalyst, but it reinforces the prevailing “debt/deficit = support for metals” narrative.