MacroVoices #493 Ole Hansen: Commodities Are Heating Up!

Macro Voices

Hedge Fund Manager Erik Townsend

Business, Investing, Business:investing

4.8 • 3.4K Ratings

🗓️ 14 August 2025

⏱️ 63 minutes

🔗️ Recording | iTunes | RSS

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Summary

MacroVoices Erik Townsend & Patrick Ceresna welcome, Ole Hansen. They’ll discuss all things commodities from tariffs to energy to precious metals and much more. https://bit.ly/3Uu4vog 🔻Download Big Picture Trading Chartbook 📈📉: https://bit.ly/47rWXKf ✅Sign up for a FREE 14-day trial at Big Picture Trading: https://bit.ly/4d1fcag 🔴 Subscribe to Patrick’s Youtube Channel: https://www.youtube.com/@Patrick_Ceresna 🔴 Subscribe to Erik's Substack: https://eriktownsend.substack.com/ 🔴 Check out Energy Transition Crisis on YouTube: https://www.youtube.com/@EnergyTransitionCrisis1 Please visit our website https://www.macrovoices.com to register your free account to gain access to supporting materials

Transcript

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0:00.0	This is Macro Voices, the free weekly financial podcast targeting professional finance, high net worth individuals, family offices, and other sophisticated investors.
0:18.8	Macrovoices is all about the brightest minds in the world of finance
0:22.6	and macroeconomics telling it like it is, bullish or bearish, no holds barred. Now, here are your
0:29.1	hosts, Eric Townsend and Patrick Suresna. Macrovoices episode 493 was produced on August 14th, 2025. I'm Eric Townsend.
0:41.0	Saxo Bank, commodities chief, Ola Hanson returns as this week's feature interview guest,
0:45.9	and as usual, Ola brought a slide deck you won't want to miss. We'll talk all things
0:51.5	commodities, from tariffs to energy, energy to precious metals and much more.
0:56.0	The second nuclear energy debate that I was originally scheduled to host tonight, August 14th,
1:02.0	between Dr. Nick Turan and Oklo founder, Dr. Jake DeWitt, has been postponed, unfortunately,
1:08.9	due to Dr. DeWitt's travel schedule. We'll let you know when it's
1:12.2	rescheduled. And I'm Patrick Sirezen with the macro scoreboard week over week as of the close of
1:17.6	Wednesday, August 13th, 2025, the S&P 500 up 191 basis points trading at 6466. This was a breakout
1:26.9	to old-time new highs as AI continues to play
1:30.0	its key leadership role. We'll take a closer look at that chart and the key technical levels to
1:34.5	watch in the postgame segment. The US dollar index down 41 basis points trading at 9779.
1:42.1	The September WTI crude oil contract down 264 basis points, trading at 6265. A breakdown of the June-July lows demonstrates the continued selling pressure.
1:54.7	The October Arbob Gasoline down 104 basis points trading to 191. The December gold contract, down 73 basis points, training at 3408.
2:06.0	Gold has been receding from its highs after a failed breakout attempt.
2:09.7	The September copper contract, up 204 basis points, training at 450, uranium up 49 basis points,
2:17.3	trading at 725050, and the U.S. 10-year
2:20.0	treasury yield up one basis points training at 424. The key news to watch this week is Friday's
2:26.0	retail sales and the University of Michigan inflation expectations number. And next week we
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