Insights

Gold and silver prices surged in Q3 2024, driven by central bank buying and macroeconomic factors. While gold experienced a historic price increase, silver's price was influenced by both its precious metal value and industrial demand. YTD through September 30, gold is up 27.71% and silver has gained 30.95%.

In our webcast with Nasdaq, John Ciampaglia discusses the rapid emergence of technologies like AI, the race to upgrade power grids, continuing global decarbonization goals and growing middle classes. He gives an overview of how the critical materials behind energy—such as uranium, copper, nickel, lithium and more—are likely to remain growth-oriented investment opportunities for the long term, and how to invest in them in a single allocation.

2024 has been an exciting year thus far for precious metals and critical materials. This webcast takes a technical perspective on the key drivers for gold, silver, uranium and copper, as all four metals enjoy positive markets. We also provide strategic portfolio allocation ideas for precious metals and critical materials.

Silver prices should spike higher with gold hitting a new all-time high above $2,500 an ounce, said John Ciampaglia, CEO of Sprott Asset Management, when speaking with Kitco Mining.  “It's mind-boggling to us that silver is still below $30. It is obviously way off its 2010 highs, and we would love to see it get back to the $50 level,” said Ciampaglia. “We think it has the ability to do that over time.”

Chief Investment Officer Maria Smirnova talks silver with Mark Bunting of Red Cloud Financial Services, RCTV LIVE. Maria takes a deep dive into what is providing support for silver in 2024, which is up 21.90% as of July 31, 2024. 

Gold gained 12.79% YTD by June 30, supported by central bank buying. Silver closed Q2 at $29.14, boosted by gold's breakout and global monetary expansion.

Silver is crucial in the shift to cleaner energy, vital for solar panels and EVs, which reduce greenhouse gases. New technologies like AI have increased demand, while overall silver supply has declined.

Replay our webcast on gold and silver with John Hathaway and Maria Smirnova. Gold is supported by central bank buyers like China, while silver benefits from increased demand for PV solar panels.

Electricity demand is expected to grow 86% by 2050. At the center of this growth are uranium and copper – two critical materials that are in high demand and limited supply.

What forces are likely to drive energy transition materials and precious metals markets in 2024 and over the next decade? We discuss 10 critical macroeconomic and market-specific themes.

Watch our webcast. Miners are shifting focus from a China-led commodity supercycle focused on industrialization and urbanization to a new cycle driven by clean energy and renewable energy technologies. 

Gold demand from sovereigns and central banks remains unwavering. Over the past decade, China has been committed to bolstering its gold reserves to enhance its economic and geopolitical standings. 

Uranium's performance helped the energy transition complex close higher in September. From a macro outlook, solar panels are emerging as a critical player in the global energy transition. 

John Ciampaglia discusses why a higher uranium price will help incentivize much needed production for the world's growing nuclear fleet. John also discusses his outlook on gold, silver, copper, lithium and more.

In Q1 2023, precious metals bullion and equities showed strong YTD momentum, with gold closing above the psychologically important $2,000 per ounce mark and silver reaching $25. Gold/silver mining equities also posted notable gains.

Due to years of underinvestment, we believe demand is likely to outstrip supply for many energy transition materials, including uranium, lithium, copper, nickel and others. The investment opportunities may be powerful.

Silver is used in every smartphone, desktop and laptop computer, and is essential for the construction of EVs, solar panels and many other technologies needed for the green economy.

2022 has been a difficult year for many asset classes. Markets were historically volatile, with higher-than-expected inflation, quickly rising interest rates, the Russia-Ukraine war and the threat of a global economic recession. 

It’s been a summer of doldrums for many asset classes. Precious metals lost ground as a liquidity crunch took hold in response to market declines and volatility. Gold declined 3.11% and silver fell 11.62%.

Maria Smirnova is interviewed by Taylor Combaluzier, Red Cloud Financial Services. Maria joins Tavi Costa, Crescat Capital LL. and Peter Krauth, Author of "The Great Silver Bull".

July was another difficult month for most asset categories and was characterized by selling capitulation into exhaustion. Much more aggressive Fed rate hike expectations relative to other global central banks were a significant cause of U.S. dollar (USD) strength and rising real yields, which adversely affected gold.

Silver is historically undervalued relative to gold and offers an attractive investment opportunity. Silver market fundamentals are strong, given that declining supply trends cannot keep up with rising, longer-term demand. 

Gold held in ETFs has increased sharply this year as the safe-haven flight continues. April was tough on many investment sectors, with the S&P 500 Index down 8.80%, the Nasdaq Composite Index declining 13.37% and U.S. Treasury bonds falling 3.10%.

"I believe that we are on the cusp of a generational opportunity today. I would encourage every viewer to dust off their old notebooks and do a little research on precious metals mining companies, especially those that are well managed, with attractive balance sheets."

Based on historic patterns, gold's lengthy consolidation indicates that prices have the potential to rally sharply and quickly in the coming year. We explain why in our List of Top 10 things to watch for gold investors.