⛏ Metal Musical Chairs

The S curve meeting the J curve makes Copper the new oil
A major incident involving a landslide at the world’s second largest copper mine, Grasberg in Indonesia, has upended the copper market and sent the price of the base metal soaring. As Reuters metals columnist Andy Home wrote, “The copper market is long accustomed to unexpected supply hits but the catastrophic events at Grasberg are unprecedented.” Read on »

Gold Miners Are Outperforming AI Chip Stocks This Year
There has been a lot of hype surrounding artificial intelligence, and AI stocks have helped propel the stock market to record highs. Meanwhile, gold stocks have quietly outperformed AI chip stocks. Based on the MSCI Gold Miners Index, gold stocks have gained around 135 percent so far in 2025. In contrast, MSCI’s index of major global semiconductor firms is up 40 percent. Read on »

Metal Musical Chairs
Gold, silver, platinum, copper, nickel, and the rare’s. That’s close to the order that they are, and will be, going parabolic. The reasons are numerous and obvious for those who are happily sitting on their hands, watching their portfolio’s rise in value by 2% per day. We all know this won’t last forever. At some point the euphoria will end. Other things will become too cheap, and the rotation will be quick and dramatic. But we’re not there yet. Read on »

• A New Wall Street Trade Is Powering Gold and Hitting Currencies Link>>

• Gold ETFs Shine as Price Hits $4,000 Link>>

• Farms are closing without workers. US border policy threatens to empty shelves. Link>>

• Gold price hits record for 40th time this year Link>>

• Teck slashes copper forecast as Anglo stands firm on $53B merger Link>>