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Sprott Letters & Research Archive

Sprott is a Toronto-headquartered asset manager specializing in precious metals and critical materials (NYSE/TSX: SII), tracing its roots to Sprott Securities founded by Eric Sprott in 1981 and now led by CEO Whitney George. It runs physical gold, silver and uranium trusts, ETFs, active strategies and resource lending, with about $65bn in AUM. The Insights column carries monthly commentaries and white papers on uranium, gold, silver, copper and critical materials by Paul Wong, Jacob White and John Hathaway (ex-Tocqueville gold manager) — note the house's structurally bullish commodity stance, as it sells the corresponding trusts and ETFs.

152 pieces · 2018–2026 · updated every Monday

2026

06-16Lithium’s Critical Role in Battery Energy Storage Systems (BESS)This report says global electricity demand could double by 2050, driven by EVs, AI data centers, and industry. Battery energy storage systems (BESS, giant rechargeable batteries for the grid) are now…→06-08How the Debt Cycle Favors GoldThis report explains why gold is becoming more attractive as governments pile up debt and inflation stays stubborn. Gold prices have fallen for three months, but central banks—like Turkey's—are buying…→05-07Gold Overtakes Dollar Reserves as Global Trust ShiftsThis report says gold has overtaken US dollars as the world's top reserve asset because trust in the dollar system is fading. The old cycle where oil exporters sold oil for dollars then bought US Trea…→05-01Copper’s Bullish Inflection: Where Demand Meets DisruptionThis report explains why copper and copper mining stocks are worth watching. Demand for copper is shifting from construction and cars to essential uses like power grids, AI data centers, and defense—t…→04-14Rare Earths as a National Security Asset: Why Ex-China Supply MattersThis report explains rare earths—critical metals for phones, EVs, and fighter jets—are now a national security weapon. China controls about 70% of mining and 90% of refining, creating a risky supply c…→04-09Gold and the Hormuz Disruption: A Monetary Stress TestThis report looks at a hypothetical scenario: the Strait of Hormuz (a key oil route) is blocked, causing a severe oil shortage. The shock triggers a chain reaction that even drags gold down—not becaus…→03-25Why Gold Has Fallen: A Liquidity Story, Not a Broken ThesisGold dropped sharply from its record high, but not because the case for owning gold is broken. The sell-off was driven by a liquidity crunch—investors needed cash and sold gold, similar to 2008 and 20…→03-10Gold Rises Above $5,000 in an Evolving Monetary RegimeGold just broke $5,000, but it's been volatile. This report explains that the ups and downs aren't a bad sign—they're part of the market adjusting to a new world where central banks keep printing mone…→03-09Lithium Enters a New Era of Strategic Demand and Policy SupportLithium is no longer just for EV batteries. Energy storage systems (powering AI data centers) now drive a big chunk of demand. The U.S. is actively stepping in: a $12 billion strategic reserve (like a…→03-03Beyond “Dr. Copper”: Copper’s Strategic ShiftThis report explains that copper is no longer 'Dr. Copper,' a nickname for its old role as a bellwether for the global economy. Now, copper prices are driven by long-term strategic demand—like grid up…→03-03Why Critical Materials Are Leading the New Commodity CycleThis report says today's commodity boom is different from past cycles—it's not about China building cities or 1970s inflation. Instead, governments are scrambling for strategic resources like copper a…→02-16Justin Tolman: The Metamorphosis of a Career, Turning Rocks into Value InvestingThis article profiles Justin Tolman, a geologist-turned-investor who uses his field expertise to find winning mining projects. The key insight: fewer than 1% of exploration projects ever become mines,…→02-10The Changing Global Order Is Repricing GoldGold and silver just hit record highs then crashed hard, but the report says long-term drivers are intact. The global order is fracturing: trust in the dollar and U.S. Treasuries is eroding because Am…→02-03Uranium Enters 2026 with Renewed Strength and Strategic TailwindsThis report explains why uranium prices jumped above $100 per pound in January 2026, with mining stocks soaring too. Three main drivers: U.S. policy supports nuclear power, aiming to quadruple capacit…→01-23Copper’s Momentum: Key Catalysts to Watch in 2026This report explains why copper prices hit records in 2025 and could stay high in 2026. The key driver is a supply shock: major mines shut down (e.g., the world’s third-largest copper mine flooded), a…→01-15Top 10 Themes for 2026This report says the world is changing: countries are prioritizing security over global trade, and governments are spending heavily, making money lose value. That's why hard assets like gold, silver,…→01-05Metals Post Strong Returns in 2025In 2025, metals saw huge gains: silver rose 148%, gold 65%, while the S&P 500 (a stock index) gained only 18% and bonds 7%. Why? High inflation and global uncertainty pushed investors toward hard asse…→

2025

12-15Uranium’s Tale of Two MarketsThis report is about uranium: the spot price fell recently, but long-term contract prices (for future delivery) rose to $86/lb. Why? Demand from nuclear plants is growing, especially for AI data cente…→12-05Gold Holds Gains as Liquidity Stress EmergesThis report explains why the Fed stopped shrinking its balance sheet (quantitative tightening) and started printing money (QE-lite) due to a liquidity crunch from too many short-term Treasury bills. T…→12-02Lithium Gains Momentum in 2025This report says lithium prices are up 25% in 2025 as the market turns bullish. Beyond EVs, data centers (like Google's backup batteries) are creating new demand. Oil giants and governments are invest…→11-06The Debasement Trade Broadens Across Precious MetalsThis report explains that because governments in the US, Europe, and Japan keep running huge deficits and printing money, people are shifting from cash and bonds into hard assets like gold and silver.…→10-22Catalyzing Copper: Supply Shocks and Betting BillionsThis report explains why copper prices hit record highs while mines keep shutting down—like the world's second-largest copper mine closing due to an accident. The U.S. government is directly buying sh…→10-15Dips: The Rx for AcrophobiaThis report answers a big question: gold and mining stocks have already soared—is it too late to buy? The answer is no, and there may be more room to run. Despite big gains, most investors haven't pil…→10-07Gold Leads as Faith in Fiat FaltersGold hit record highs not because of jewelry demand, but because investors are losing faith in paper money like the dollar and pound. The report highlights a key warning: central banks cut interest ra…→10-06Investors Act with ConvictionThis report explains why the uranium market is rallying. After months of being stuck at $80 per pound, the spot price jumped to $82 in September. The main drivers: big producers like Cameco and Kazato…→09-15Steel Meets Rising Global Electricity DemandThis report explains why steel is essential for the global shift to electricity, from wind turbines to EV charging grids. Most people overlook it. "Green steel"—made with cleaner energy—currently acco…→09-08Copper Fundamentals Prevail After Tariff TurmoilCopper prices rebounded in August, but mining stocks—especially smaller “junior” miners—surged much more (up 47% year-to-date). The U.S. added copper to its critical minerals list, which could speed u…→09-05Challenges to Fed Autonomy Strengthen Case for GoldThis report explains why gold and silver are surging: the U.S. government is threatening the Federal Reserve's independence (the Fed's ability to set rates without political pressure), which could lea…→08-22Critical Materials Breakout into a New Bullish PhaseThis report explains how critical minerals like rare earths, lithium, and copper have become strategic national-security assets. With China dominating supply, rising defense spending, and clean energy…→08-14A Cure for Financial DementiaThis report warns that today’s market frenzy—focused on a handful of tech stocks and crypto—echoes past bubbles like the internet and mortgage-backed securities. Valuations are extreme, and a downturn…→08-06Gold Miners Shine in 2025This report says gold and silver prices surged in 2025, but gold mining stocks did even better—up over 50% year-to-date. Oddly, investors kept selling mining ETFs (like GDX and GDXJ, whose shares shra…→07-23The Emerging Copper Premium: Policy Risk Meets Physical ScarcityThis report explains how Trump's proposed 50% tariff on copper imports has caused US copper prices to spike and split from global prices (like London's LME). For ordinary investors, this means US copp…→07-21Silver Investment Outlook Mid-Year 2025This report explains why silver is surging (up 25% in 2025, breaking above $35/oz). Key drivers: seven years of supply deficits (mines aren't producing enough), growing industrial demand (especially s…→07-10Uranium’s Mid-Year MomentumThis report explains why uranium (the fuel for nuclear power plants) and related stocks have surged recently. Two big reasons: governments are backing nuclear energy (the World Bank now funds it, the…→07-07Gold and Silver Bull Run ContinuesThis report explains why gold and silver keep rising. Central banks, especially from emerging economies, are buying gold because they worry about the US dollar's long-term value. The US might also let…→06-26Copper’s Bullish Setup StrengthensThis report says copper prices are nearing $10,000 per ton, driven by surging demand from EVs and data centers, tight supply (e.g., a mine outage and 17-year lead times for new mines), and potential U…→06-16Building an Electrified World: The Strategic Role of Critical MaterialsGlobal electricity demand is set to double by 2050, driven by AI, data centers, and electric vehicles. This report argues that critical materials like uranium (fuel for nuclear power), copper (essenti…→06-09Uranium’s Bull Market ReawakensThis report explains why uranium (a fuel for nuclear power) is making a comeback. The US government is pushing nuclear energy harder than ever, and AI data centers need huge amounts of electricity. Ur…→06-05Gold Gains Ground as Faith in the Dollar ErodesThis report says gold is rising because faith in the US dollar is fading. America's huge budget deficit and foreign allies quietly selling Treasuries are shaking the dollar's role. For ordinary invest…→05-29Platinum Is on Track for a Status UpgradePlatinum is rarer than gold, but its price has been stuck for years. New reports show global platinum supply has fallen short of demand for three straight years, and stockpiles could run out within th…→05-12Uranium Regains MomentumUranium prices have bounced back from $63 to $70 per pound since March, rising about 10%. A Sprott report says the worst may be over. The key reason: supply is structurally short by 30-40 million poun…→05-08A Shaky U.S. Dollar Boosts Gold’s Role as an Alternative Reserve AssetThis report highlights a rare event: in April 2025, U.S. stocks, bonds, and the dollar all fell at the same time for the first time since the 1970s, while gold hit a new all-time high. The reason: glo…→04-15Is Uranium’s Bull Market Over?This report argues that uranium's recent price drop is just a pause, not the end of its bull market. The long-term contract price (what utilities lock in) stays above $80/lb, much higher than the spot…→04-11The Return of Exter’s Inverted PyramidThis report argues that gold is still undervalued. Despite rising prices, Western investors have mostly ignored it, piling into overpriced tech and AI stocks instead. The real gold available for tradi…→04-08Copper’s Record-Setting Rally and Reversal on U.S. TariffsCopper hit a record high in March as traders bet the U.S. would slap a 25% tariff on imports, triggering a buying spree. But in April, Trump's broad tariff announcement sparked a global panic, and cop…→04-04Gold's Strength Amid a Crisis of ConfidenceThis report explains why gold surged 19% in early 2025: U.S. tariffs and government cuts are causing stagflation (high prices + slow growth), shaking trust in the dollar and Treasury bonds. Gold is no…→03-10Tariffs, Tensions and the Uranium OpportunityThis report explains why uranium prices have dropped over 30% recently due to shifting US tariffs and talk of US-Russia détente. But the author argues the long-term outlook hasn't changed: Russia cont…→02-24Critical Materials Markets Shake Off DeepSeek Disruption and U.S. Policy RollbacksIn January 2025, critical materials like copper, lithium, and nickel were shaken by a cheap AI model from China and shifting US policies. Yet prices held firm or even rose. Why? History shows that mor…→02-11Uranium Markets Trumped by UncertaintyThis article explains why uranium prices fell in January 2025 while mining stocks rose. The key is that investors focus on long-term demand: US policy supports nuclear power, AI models like DeepSeek m…→01-20Top 10 Themes for 2025This report predicts three big shifts for 2025: countries prioritizing energy security (like 'America First' and Europe cutting Russian gas), rising trade war risks, and surging demand for metals like…→01-08Recalibrating Our Crystal BallThis report says gold rose 27% in 2024, and many analysts expect it to hit $3,000 in 2025. But oddly, Western investors hold very little gold, which means there's a huge potential wave of buying. The…→01-06Silver's Impressive Strength in 2024This report explains why silver is surging in 2024. Silver is cheaper than gold historically (the gold-to-silver ratio is high) and demand is booming from solar panels and other green tech, while supp…→01-01The Uranium Miners OpportunityNuclear power is making a comeback, driven by surging electricity demand from AI and data centers. Uranium prices spiked in 2023 but have since settled, while long-term contracts now hit $130 per poun…→

2024

12-13Uranium Markets Impacted by Market Signals and UncertaintyThis report covers the uranium market: spot prices (current market price) fell due to year-end inventory clearance, but long-term contract prices (utilities locking in future supply) hit a 16-year hig…→12-05Gold’s Post-Election Correction Comes as No SurpriseGold dropped after the U.S. election, but investment firm Sprott says the sell-off is driven by computer trading algorithms, not a real change in gold's value. They see this pullback as a buying oppor…→11-18Batteries and Minerals Driving Global ElectrificationThis report explains how batteries and minerals are driving global electrification. Energy storage is booming, especially LFP batteries (a cheap, safe type), growing faster than wind and solar. For or…→10-28Big Tech Targets Nuclear Energy to Support AI AmbitionsThis report explains how tech giants like Microsoft, Google, and Amazon are investing heavily in nuclear power to meet the huge electricity needs of AI data centers. They're restarting old reactors an…→10-21Gold and Silver Enjoy Continued RallyThis report explains why gold and silver prices are surging, with gold hitting record highs. The main drivers: central banks (especially from emerging economies) are quietly buying lots of gold, while…→10-15U.S. Electricity Grid Remakes Itself to Meet Surging AI-Led Power DemandThe U.S. power grid is under pressure from surging demand due to AI data centers, factories coming back, and electric vehicles. But building new power lines takes ten years, while data centers go up i…→10-01The Stage Is SetGold prices are up 28% this year, but gold mining stocks haven't kept pace—they've lagged over the past five years. The report says miners are about to catch up, similar to gold's earlier breakout but…→09-24Uranium Markets Shake Off Summer DoldrumsUranium prices have dipped recently, but don't let short-term noise fool you. The core argument: supply is tightening (Kazakhstan cuts, potential Russian export ban) while demand from nuclear reactors…→08-21Gold Tops $2,500: A Technical ViewGold just broke through $2,500, and the move can't be explained by usual factors like interest rates or ETF flows. It's likely central banks (though not China) buying quietly. More importantly, free-f…→08-19The Unstoppable Rise of Renewable EnergyThis report explains that solar and wind power already cost half as much as coal and gas, and will keep getting cheaper because they are manufactured like electronics. Fossil fuels are inefficient—onl…→08-12The AI Revolution and Data Centers: A New Frontier in Energy DemandThis report explains how the AI boom is dramatically increasing electricity demand from data centers, which in turn drives up demand for key materials like uranium, copper, lithium, and nickel—many of…→07-31Lithium: Short-Term Opportunities for a Long-Term TrendThis report says lithium prices may have hit bottom, and a supply shortage is expected by 2025—so now could be a good time to invest in lithium miners. For regular investors, consider specialized lith…→07-23Uranium Case StrengthensThis report explains why uranium—the fuel for nuclear power plants—is still in a long-term uptrend, even though prices fell recently. The author sees this as a normal pullback in a bull market. Key re…→07-19U.S. Dollar: Decline and FallGold hit a record high, but most Western investors barely noticed: holdings in the biggest gold ETF (GLD) are down 38% from 2011. Meanwhile, gold mining stocks are much cheaper than four years ago eve…→07-17Gold’s Record-Setting Quarter and Silver’s ResurgenceThis report explains why gold and silver hit record highs in mid-2024. Central banks worldwide are buying gold heavily, providing a solid floor for prices. Silver demand from solar panels is soaring,…→07-12Fourth Industrial Revolution Fuels Global Competition for Critical MineralsThis report explains how the Fourth Industrial Revolution (AI, electric cars, robots) needs huge amounts of high-quality electricity, and copper and uranium are essential for making that power and bat…→06-20Uranium Miners Lead Market HigherThis report covers uranium (fuel for nuclear power). After a big price spike in 2023, spot prices stabilized in 2024, but long-term contracts hit 16-year highs. The US just banned Russian enriched ura…→06-11A New Copper Supercycle Is EmergingThis report argues that copper is entering a new long-term price boom—a 'supercycle'—driven by supply shortages, green-energy demand, and trade wars like US tariffs on China and Russia. For everyday i…→05-29Silver’s Critical Role in the Clean Energy TransitionThis report explains that silver is essential for making solar panels, electric vehicles, and AI hardware. Industrial demand for silver has been rising, but mine production has been falling, creating…→05-16AI's Critical Impact on Electricity and Energy DemandThis report explains how AI data centers are consuming huge amounts of electricity—potentially 2.2% of global power by 2026—which boosts demand for copper, a key metal used in electrical equipment. Th…→05-08The Case for Investing in Nickel MinersThis report explains how nickel, once used mainly for stainless steel, is now crucial for electric vehicle (EV) batteries. Despite a current oversupply and price drop, the report argues that long-term…→04-25Nuclear Revival: A Resurgence for Uranium MinersThis report says uranium (the fuel for nuclear power) prices dipped in early 2024, but the rally isn't over. Mines can't produce enough, while demand is rising—more countries are building reactors, an…→04-19Miners Ignore Softer Uranium PriceUranium prices fell 7% in March, but mining stocks rose. Why? Buyers paused purchases (a 'buyer's strike'), not that demand is dying. The report says this is a normal correction in a long-term uptrend…→04-12Battery Storage Is the Technological Cornerstone for a Sustainable Energy FutureThis report explains that battery storage (using large batteries to store electricity) is key to the clean energy transition, with global deployment expected to grow 27% annually through 2030. For reg…→04-10What Does the Gold Price Breakout Mean?Gold prices have jumped from $1,993 to $2,350 per ounce since February, but most regular investors and advisors are ignoring it—gold ETFs (funds that track gold like stocks) actually lost 12% in holdi…→04-02Gold Is on the Rise and Reaches All-Time HighGold just hit an all-time high, but oddly, many gold ETFs are seeing steady outflows while central banks are buying heavily. This divergence means the rally isn't overheated—if ETF investors start buy…→03-18Uranium Bull Market Takes a Healthy PauseThis report explains that uranium prices dipped in February 2024, but the author sees it as a healthy pause in a long-term bull market, not a reversal. Global supply is struggling to meet demand, new…→03-12Global Investment Pours into Renewable EnergyThis report shows that global clean energy investment hit a record $1.77 trillion in 2023, yet prices of key materials like copper, lithium, and uranium fell or stagnated. For regular investors, the s…→02-27Copper: Wired for the FutureThis report explains why copper is vital for clean energy. Electric cars, wind turbines, and power grids need lots of copper, but new mines take over 16 years to build and investment has dropped sharp…→02-26Copper: The Red Metal's Central Role in Powering Our Net-Zero Carbon FutureThis report explains why copper, one of the oldest metals, is essential for the shift to electric vehicles, renewable energy, and smarter grids — all part of the 'electrification' trend. Because coppe…→02-20Uranium Price Returns to Triple DigitsUranium prices just hit $100 per pound. The world's biggest producer, Kazatomprom, unexpectedly cut its output forecast, making supply tighter than expected. This is good news for uranium mining stock…→02-13The Emerging Renewable Energy EconomyThis report breaks down how key materials for the energy transition—like uranium (for nuclear power), lithium (for batteries), copper (for wiring), and nickel—performed in January 2024. Uranium prices…→01-31Unearthing Opportunity: Uranium Miners and the Global Clean Energy TransitionThis report explains why uranium mining companies could be a good investment. The world needs steady zero-carbon power to fight climate change, but wind and solar are intermittent. Nuclear power can f…→01-31A New Era: How Critical Minerals Are Driving the Global Energy TransitionThis report explains that as the world shifts from fossil fuels to clean energy like solar panels and electric cars, we need a lot of special minerals (such as lithium and cobalt). But new mines take…→01-16Top 10 Themes for 2024This report looks at what to invest in for 2024. It says the world is changing: countries are less connected, energy security is more important, and the shift to cleaner energy (like solar and nuclear…→01-11Gold Mining Stocks, A Clear and Compelling Investment CaseGold mining stocks are at their cheapest in 25 years, way undervalued compared to gold itself. The report says even if gold doesn't rise, miners can boost profits by cutting costs. Plus, Western inves…→01-03What a Year for Uranium and Nuclear EnergyThis report explains why nuclear energy is making a comeback after a decade of decline. The trigger was the 2022 energy crisis from the Russia-Ukraine war, which made countries realize they need nucle…→

2023

12-17Uranium & Nuclear Get Boost from COP28This report explains why uranium prices hit a 16-year high: countries like France, the US, Russia, and China are competing to secure supply, while demand from nuclear plants keeps growing but mines ca…→12-12Lithium-Ion Technology Solidifies Lead in EV Battery StakesThe technology race for EV batteries is already decided: lithium-ion (the type used in most EVs) dominates due to low costs and proven reliability. Price moves: lithium crashed but miners stay optimis…→12-04Gold’s Bold Move to New Closing HighGold just hit a new record closing high above $2,072, breaking out of a three-year range. The rally is driven by signals that the Fed may pause rate hikes, a weaker dollar, and central banks (like Chi…→11-14Higher Uranium Prices Allow Miners to Resume ProductionThis report explains why uranium prices are at a 12-year high—not due to speculation, but because nuclear power plants actually need to buy uranium to run. Higher prices are letting miners restart old…→11-10Energy Security and the Shifting Focus from Oil to Critical MineralsThis report looks at how the U.S. is shifting its energy security focus from oil to critical minerals like lithium, copper, nickel, and uranium. The key idea: mineral shortages would hit the economy l…→10-19Central Banks Support Gold & Solar PV Demand Buoys SilverGold prices are down, but central banks—especially China's—keep buying, which supports the price. Silver is getting a big boost from green tech like solar panels and EVs, and supply may fall short. Me…→10-13Gold and the Debt BubbleThis report says gold and mining stocks are extremely undervalued. The Fed claims rates will stay high, but that's unsustainable—U.S. debt is $33 trillion and interest payments are ballooning. Market…→10-11Silver Demand Grows as Solar Leads RenewablesThis report says solar power is booming, and making solar panels requires a lot of silver (a precious metal). Silver supply is growing slowly, so demand may outstrip supply in the next decade, potenti…→10-04Uranium Rally Gains Power in SeptemberThis report explains why uranium prices surged to a 12-year high in September 2023, beating most other commodities. For regular investors, it suggests that nuclear energy's comeback could make uranium…→09-22Pro-Nuclear Sentiment Ignites Uranium OpportunitiesThis report explains that nuclear power is making a comeback as global electricity demand surges. Uranium (the fuel for nuclear plants) and uranium mining stocks are up over 30% this year, way more th…→09-14Strong Fundamentals Anchor Uranium's RiseThis report explains why uranium (the fuel for nuclear reactors) is rising while other metals are falling due to China’s weak economy. The rally isn’t from speculation—utility companies are signing lo…→09-12U.S. Taking Center Stage in Cleantech InvestmentThis report explains how the U.S. Inflation Reduction Act (IRA) is boosting clean energy investment, but metals are moving in opposite directions. Uranium (nuclear fuel) is surging because it’s less t…→08-23Electric Vehicles and the Growing Opportunity for Lithium MinersThis article explains how the rise of electric vehicles (EVs) is creating a big opportunity for lithium miners. Lithium is a key material for batteries, but new mines take over a decade to build, so s…→08-14Stars are Aligning for Uranium and Nuclear EnergyThis report says uranium prices are rising because many countries are building new nuclear plants—the U.S. just opened its first new reactor in 30 years, and China approved six more. But supply is con…→08-09Growing Urgency to Modernize U.S. Power GridThis report explains why the aging U.S. power grid needs trillions in upgrades, which will boost copper demand. It also says electric cars won’t overwhelm the grid—with vehicle-to-grid (V2G) tech, the…→07-19Central Banks Flex Gold Market MuscleThis report explains that central banks have been buying gold at three times the average pace of the past decade, while investment funds are selling it to chase rising stocks. Central banks are price-…→07-14Supply-Demand Gap Ignites Uranium RallyThis report is about uranium, the fuel for nuclear power plants. It says supply is shrinking while demand is growing, so prices are likely to keep rising. The US is pushing laws to cut reliance on Rus…→07-12Gold vs. Gold Stocks, An Unresolved IncongruityThis report explains why gold mining stocks have badly underperformed physical gold for years. The main reasons: poor management, excessive share dilution, and rising costs. Now gold miners are deeply…→07-10EV Battery Independence and the New U.S. Manufacturing SupercycleThe US is using massive tax credits (direct subsidies) to build its own EV battery supply chain and reduce reliance on China. For ordinary investors, this could open up opportunities in American lithi…→06-29Key Facts about Spent Nuclear FuelThis report argues that nuclear waste is far less dangerous than most people think. It says one person's lifetime electricity use creates only a brick-sized amount of waste, with just a paperclip's wo…→06-21Uranium Remains Resilient, While Threats of Nationalism Rattle EquitiesThis report covers the uranium market in May 2023. Uranium prices rose 1.58%, but uranium mining stocks fell 2.85% due to fears that Namibia might nationalize mining companies. The government later cl…→06-13Geopolitical Risks Enhance Gold’s Role as a Reserve AssetThis report explains why gold is becoming more important. The key idea: central banks (like China's) are buying gold at record levels—three times more than before—while regular investors are selling v…→06-07The West Moves to Weaken China's HoldThis report says China dominates key minerals like lithium and rare earths, so the West is spending big to build its own supply chains. For regular investors, this means: U.S. policies will push up in…→05-12Gold Rides Higher on Recession FearsThis report says that with rising recession risks and ongoing bank stress, gold looks like a smart bet. Historically, buying gold before a recession hits has paid off better than waiting until it star…→05-09Nationalization and Surging M&A Highlight Secular StrengthThis report explains that key minerals for the energy transition, like lithium and copper, are facing a major shift: more countries (e.g., Chile) are nationalizing them, which could limit future suppl…→05-05Uranium’s April BreakthroughThis report explains that in April 2023, the price of uranium (the fuel for nuclear power) jumped 6%, but stocks of uranium mining companies fell. The author sees this as a buying opportunity. Why? Ch…→04-20How Deglobalization is Changing the Dynamics of Securing Critical MineralsThis report explains how global trade is shifting from free access to regional competition, making critical minerals (like lithium, copper, and nickel) harder to secure and more volatile in price. For…→04-19A Bullion "Moat" for Your PortfolioThis report explains why gold and silver are rising quietly while most investors aren't paying attention. The author argues that unexpected Fed rate hikes caused bank failures (like Silicon Valley Ban…→04-14Uranium Proves Resilient in MarchThis report looks at uranium (the fuel for nuclear power) in March 2023. While uranium mining stocks, especially smaller ones, fell sharply due to the US banking crisis, the price of uranium itself he…→04-06Gold Bulls Run Faster as Fed Tackles Banking CrisisThis report explains why gold could surge after the March 2023 US banking crisis. The Fed may have to stop raising rates or even cut them to save banks, which could make inflation worse and weaken the…→04-03Is My Money Safe?This report argues that bank deposits aren't safe because banks borrow short-term and lend long-term, which can fail when interest rates rise—just like Silicon Valley Bank. It says physical gold is th…→03-21Has the Next Commodities Supercycle Begun?This report argues that commodities like lithium, uranium, copper, and nickel may be starting a long-term uptrend, similar to how the 40-year bond bull market ended. For regular investors, this means:…→03-10Uranium‘s Mixed FebruaryThis report explains a strange split in February 2023: the price of uranium barely budged (from $50.75 to $50.85 per pound), but uranium mining stocks fell sharply (junior miners dropped about 13%). F…→03-06First Gold Dip Since Central Bank Buying SpreeThis report explains why gold's recent dip isn't a big deal. Central banks are buying record amounts of gold—1,724 tons a year, over three times the past decade's average. Meanwhile, strong physical d…→02-16Critical Materials Start 2023 With a BangThis report explains why prices of critical metals like lithium, uranium, copper, and nickel—used in EV batteries and clean energy—surged in early 2023. The main reason: three big headwinds from 2022…→02-10Uranium‘s January JumpThis report explains why uranium prices and uranium mining stocks jumped in January 2023. The reasons: more government support for nuclear power, slower inflation in the US, Europe's energy crisis eas…→02-07Strong China Demand Boosts Gold RallyThis report explains why gold is rallying. The key driver isn't typical speculators but Chinese official entities (like the central bank) buying gold heavily while selling U.S. Treasuries. For regular…→01-17Key Trends for 2023 and December RecapThis report looks at uranium (a fuel for nuclear power) in 2022. While stocks fell, uranium prices rose 14.74%, outperforming most assets. But uranium mining stocks dropped 11.42%. The author says thi…→01-092023 Top 10 Watch ListThis report says the global economy is shifting from decades of low inflation and stability to a new era of higher inflation and volatility, driven by countries turning inward (deglobalization) and th…→01-05Connecting a Few DotsThis report argues the 2023 economy may face a long recession, stocks aren't done falling, and the Fed will eventually be forced to print money again. For regular investors, this means don't blindly t…→

2022

12-08The Optimistic News ContinuesThis report is about uranium (a fuel for nuclear power). In November 2022, uranium prices didn't rise much, but the author thinks that's temporary. Nuclear energy is gaining acceptance (for example, t…→12-07Gold Higher After Peak Fed HawkishnessThis report explains why gold and silver surged in November 2022. The key idea: the worst of the Federal Reserve's rate hikes may be over, and the dollar and bond yields have peaked, which is good for…→11-11Uranium's October OptimismThis report covers uranium (a fuel for nuclear power plants) in October 2022. The spot price rose 8% for the month and 24% year-to-date, making it one of the best-performing assets, while the S&P 500…→11-04Fed Pivot FOMO and Financial InstabilityThis report looks at gold and mining stocks in October 2022. Gold prices fell for seven straight months, but the report says gold mining stocks are now a good deal. Mining companies have lower costs a…→10-12Uranium's September SetbackThis report explains why uranium prices and uranium mining stocks fell sharply in September 2022. The main reason wasn't anything wrong with uranium itself, but the broader market sell-off caused by t…→10-07The Dollar, Safe Haven or Leaky Lifeboat?This report argues the strong dollar is an illusion—it's rising because other currencies are weaker, not because it's truly safe. Think of it as a leaky lifeboat. For regular investors, this means gol…→10-03Things are BreakingThis report looks at September 2022, when the Fed's aggressive rate hikes pushed the dollar to a 20-year high and real interest rates (rates minus inflation) to their biggest monthly jump ever. Then t…→09-09Uranium’s August GlowThis report explains how uranium prices and uranium mining stocks rose in August 2022, even as stocks, bonds, and commodities fell. For regular investors, this means uranium can be a good diversifier…→09-02Summer Doldrums for Gold & SilverThis report covers how gold, silver, and mining stocks struggled in August 2022 due to the Federal Reserve's rate hikes, which strengthened the U.S. dollar. Gold fell to $1,711 per ounce, silver to $1…→08-24Dawn of a New Nuclear Renaissance?This report explains how the uranium market (the fuel for nuclear power plants) is waking up after a long slump. A fund called SPUT, launched in 2021, bought up lots of physical uranium, attracting $1…→08-05Signs of Capitulation EverywhereThis report looks at signs of 'capitulation' (when investors give up and sell in panic) in July 2022. Gold hit a key support level, and silver ETFs saw their biggest monthly outflows since 2011 (ETF i…→07-15Inflation, No Quick FixThis report explains why gold hasn't risen despite high inflation and why it might still surge. The author argues inflation won't drop quickly, the recession is just starting, and the Fed's tools are…→07-07Gold Holds in Worst First Half in DecadesThis report covers the brutal first half of 2022: the S&P 500 fell 20%, U.S. Treasury bonds dropped 9%, but gold only lost 1.2%. The key point: gold held its value as a safe haven, while stocks and bo…→06-03Gold, Steady in its PurposeThis report looks at markets in May 2022, when the Fed was raising rates and liquidity was drying up. Almost everything fell, but it wasn't a panic crash. Gold dropped less than stocks and Bitcoin, an…→05-26Silver Demand and Supply Trends to WatchThis report explains why silver prices have been flat recently but could be a good long-term bet. Short-term, rising interest rates and risk aversion are hurting silver more than gold. But long-term,…→05-03April Pressures Risk AssetsThis report looks at April 2022, when markets were under heavy pressure from Fed rate hikes, war in Ukraine, China lockdowns, and a shrinking US economy. Gold dipped but stayed up for the year, and th…→04-13Putin’s GambitThis report explains how Putin's war is shaking trust in the US dollar and why gold could surge. The key point: Western countries froze Russia's central bank assets, making many nations fear dollar de…→04-05Gold Investment Demand ReturnsThis report explains why gold and gold mining stocks are worth watching. It says gold investment demand is returning to 2020 peaks, and gold mining stocks are still cheap compared to the overall stock…→02-07Fed Applies Hawkish Shock TreatmentThis report explains how the Federal Reserve's aggressive interest rate hikes are affecting gold and stocks. Surprisingly, gold is holding up better than expected, starting to act like a safe haven ag…→01-12Waiting for the PivotThis report argues that gold, which fell in 2021, could surge in 2022. Why? Mine supply is shrinking (less gold being dug up), while demand from Asia (India and China) is booming, creating a price flo…→01-07Why Nuclear Power Plant Life Extensions & Uprates Matter (...SMRs are in Early Stages)This report argues that while small modular reactors (SMRs) sound exciting, they won't produce much power for at least a decade. A more practical way to cut emissions now is to extend the life of exis…→

2018

08-27The Platinum Opportunity - Part 1This report says platinum is currently very cheap compared to gold and palladium (a metal used in car exhaust systems), but its price might rise. The reasons: palladium is so expensive that carmakers…→