This is a special edition of Macrovoises with hedge fund manager Eric Townsend.

The premier financial podcast targeting professional finance, high net worth individuals, family

offices, and other sophisticated investors.

Now for this special edition of Macrovoises, here's hedge fund manager Eric Townsend.

Macrovoises All Stars episode 49 was recorded on August 26, 2019.

I'm Eric Townsend.

All-star Jeff Snyder from Alhambra Investments is back and it wouldn't be Jeff Snyder

without the slide deck.

So listeners, be sure to go to macrovoises.com.

You'll find the download link if you're a registered user on our homepage next to Jeff's

picture.

If you're not a registered user, just look for the red button that says looking for the

downloads in order to get the excellent slide deck, which accompanies today's interview.

Jeff, after our last interview, we were talking off the air about gold and the dollar.

Now generally speaking, the consensus view is that when the dollar is up, that's usually

bad for gold.

But over the last several months, we've seen the dollar and gold rise together.

My sense is that that caught at least a few of us off guard.

I'm certainly certain that it caught me off guard.

So what is it that's driving gold higher at the same time that the dollar is rising

as well?

Well, Eric, the short answer is interest rates.

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