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%.

Demand for electricity over the next decade will put pressure on the U.S. power grid to keep pace. New investment in power-hungry industrial facilities is driving demand, especially the data centers that support artificial intelligence (AI), U.S. reshoring initiatives and the steady electrification of the transport sector.

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.

We believe gold mining equities are poised for growth, as they remain undervalued despite rising gold prices. Western investors have largely ignored gold, but any shift has the potential to push gold prices higher, which will likely benefit miners. In our view, the current market displays the signs of an early-stage bull market.

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.

The uranium market has faced short-term volatility, including price declines driven by geopolitical tensions and economic concerns. Despite these challenges, the long-term outlook remains strong. Supply uncertainties from key producers like Kazakhstan and Russia are contributing to this volatility, but the fundamental supply-demand imbalance suggests further growth potential.

In this exclusive interview with Metals and Miners, John Hathaway offers a comprehensive analysis of the current economic landscape. From the deteriorating economic metrics to the growing threat of de-dollarization, Hathaway provides expert insights on the most pressing issues facing investors today.

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.”

Author and acclaimed Reuters journalist Ernest Scheyder discusses his book, The War Below: Lithium, Copper, and the Global Battle to Power Our Lives, with Sprott's Steve Schoffstall in this exclusive interview.

Gold has surged above the psychological $2,500 level, driven by factors not easily explained by traditional market variables, suggesting possible central bank or sovereign activity rather than usual market dynamics.

Renewable energy is rapidly replacing fossil fuels as costs decrease and efficiencies improve with increased deployment, making it much cheaper than traditional energy sources. This shift, driven by the exponential growth of renewables, electrification, and efficiency, is expected to significantly alter global power dynamics as fossil fuels are phased out.

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. 

Significant investments in AI-related tech stocks have helped push the S&P 500 Index to record highs this year. The rapid growth of AI is significantly increasing the energy demands of data centers, which is likely to lead to a surge in demand for critical materials.

This might be an ideal moment to re-evaluate lithium miners given their potential to benefit as the global energy transition continues. The current dip in the price of lithium miners presents a potential short-term opportunity, given the strong future demand and supply imbalance. 

The uranium spot price has remained range-bound between $85 and $95 per pound, and ended the first half at $85.34 (June 30, 2024). Uranium miners fell in June, but bounced back in early July, outperforming the commodity YTD. 

Gold’s breakout may signify more than one might infer from the continuing lack of interest. Inflows into the precious metals mining space have the potential to generate compelling outcomes.

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.

The fourth industrial revolution (4IR) is driving unprecedented change. Its dominated by AI, robotics, IoT, genetic engineering and quantum computing. 4IR technologies need critical minerals, fueling a new commodity supercycle.

In this episode of Shifting Energy (Season 1), Thalia Hayden of @etfguide talks with John Ciampaglia about the growing energy requirements of AI and how uranium, copper, silver and other metals may benefit.

In this episode of Shifting Energy (Season 1), Thalia Hayden of etfguide talks with Steve Schoffstall about the nickel growth story, what's driving it and the investment opportunities now and ahead.

What will take the gold price higher? John Hathaway, Senior Portfolio Manager, provides his thoughts on why gold isn't moving and what will take it higher.

YTD the uranium spot price has stabilized between $85-$95 per pound after an 88.54% rise in 2023, indicating a healthy correction in a bullish cycle. Uranium miners' performance improved, matching spot price gains.

The copper market is entering a new supercycle. Demand is surging as countries invest in clean energy and protect their access to copper, while supply is constrained by a lack of new mine development.

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.

The rise of AI and data centers will boost global electricity demand, challenging power grids but benefiting clean energy sources like nuclear. This trend will also increase demand for copper.

Nickel's future is bright due to its role in net-zero goals. Stricter regulations and government support for EVs are driving demand, benefiting nickel mining companies in the long run.

Rising global nuclear energy commitments make uranium a compelling investment. Despite a slight dip in spot prices, there's potential for growth.

In March, the uranium market saw mixed results: spot prices fell, but miners' stocks rose due to a positive long-term outlook. We believe the uranium bull market has more room to grow.

The energy sector has experienced a remarkable transformation, primarily driven by the rapid growth and integration of renewable energy sources. Central to this transition is the advancement of battery storage technology.

John Ciampaglia, CEO of Sprott Asset Management, joins CNBC's Fast Money to talk about the gold market and explain how central banks and overseas buyers are driving current demand. 

The breakout in gold prices since February has been largely ignored by mainstream investors. Gold bullion’s breakout is significant in that it represents the positive resolution of a three-year consolidation.

Gold reached an all-time closing high and is up 8.09% YTD (as of 3/31/2024) after rising 13.10% in 2023. We believe several factors are in place for gold to move higher, such as strong central bank buying. 

In this episode of Shifting Energy (Season 1), Thalia Hayden @etfguide talks with Ed Coyne and Steve Schoffstall at Sprott Asset Management about what's driving the copper growth story.

Learn how renewed interest in nuclear power, rising global energy demands, and the transition to clean energy are driving investment opportunities in uranium, copper and their miners.

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.

Uranium markets pulled back in February after a rapid rise—in our view, this is a healthy pause in the ongoing uranium bull market. News from Kazatomprom and Cameco reinforce uranium markets' structural supply deficit.

Steve Schoffstall visits Nasdaq TradeTalks to talk about Sprott’s continued expansion in the critical minerals sector, including the launch of COPP. 

Ed Coyne discusses copper’s role in the energy transition, its current status in the market and how Sprott is capturing the potential opportunity with COPP and COPJ.

February was lackluster for critical materials, but the backdrop remains very positive. The global commitment to clean energy hit a new milestone in 2023 as investment surged to an unprecedented $1.77 trillion.

John Ciampaglia joins Thalia Hayden on Sprott’s new video series, Shifting Energy. They discuss surging uranium prices, the latest nuclear renaissance and potential investment opportunities. 

The demand for copper in energy grids, electric vehicles and clean energy technologies, combined with diminishing ore grades and limited inventories, underscores copper's growing importance. 

In the U.S. alone, copper is a crucial element in nearly 7 million miles of electrical wires. This white paper introduces the trends that are driving copper markets and copper miners, and explains our positive outlook. 

John Hathaway shares his thoughts on the disconnect between the gold price and gold stocks, explaining why it's happening, whether he's seen it before and what could make gold stocks finally start moving.

Uranium price surged 11% in January, fueled in part by Kazatomprom's cut in guidance for 2024 production. Junior uranium miners were top performers , climbing 18.78%. 

The era of renewable energy is emerging and beginning to reshape power generation. Recent trends suggest that this is a fundamental transformation powered by the fall in renewable energy costs. 

Whitney George, CEO of Sprott, joined Evan Lorenz to discuss Sprott's growth and the increasing demand for critical materials, including uranium. 

John Ciampaglia joins James Connor at the Bloor Street Capital Virtual Uranium Conference to examine the growing interest in the uranium market, and Sprott’s movement in the space. 

John Ciampaglia sits down with BNN Bloomberg to discuss the uranium market. "We’ve been very active in educating the market and investors about the uranium thesis since we acquired the Uranium Participation Corporation in July 2021."

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.

Nuclear waste is not something to be feared. In this video, we dispel the many fears and concerns about spent nuclear fuel. 

We  believe that the investment case for gold mining equities is clear and compelling, grounded in value analysis and situational factors. A challenge is having the patience to wait for investors to discover the attraction. 

At the 2023 Schwab Impact conference, Sergio Lujan joined Keith Black of RIA Channel to discuss Sprott’s specialization in precious metals, the current state of the gold market, along with our outlook.

2023 provided the long-awaited inflection point for the uranium contracting cycle. Long-term security of supply concerns, fanned by lingering geopolitical risks and the challenges of expanding primary production, are likely the key themes to watch.