Gold Runs First, Then Silver, Then Copper | Ran Neuner
He is long palladium.
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Most coveredGold 13 →Silver 12 →US stock market 7 →
He is long palladium.
He is long platinum.
He is long bitcoin alongside the precious metals.
Ran Neuner is long gold; 'scarcity season' / debasement trade drives it higher, gold runs first.
The dollar is slowly losing its grip as the world's reserve currency, with its reserve share continuing to decline (though not to the euro or China).
Steve Keen warns stock valuations have only been higher once (the 2000 dot-com bubble); everything is priced for perfection and perfection will not be delivered
CPM Group does not see a silver deficit at all, contradicting the bullish supply-shortage case for silver.
The AI bubble has less than a year to run, with revenue from serious users at roughly one fifth of what these companies are spending.
Copper supply cannot keep up with AI/data-center-driven demand, keeping the market in backwardation/tight
Don Durrett is targeting $200 silver and calls it conservative.
Florian Grummes says a wave of M&A is coming for junior miners as big producers are flush with cash at $4,000 gold, and he is positioning ahead of it.
Mike McGlone warns gold has likely already peaked.
He is contrarian-buying the chip crash at a specific trendline
Fed's 50bp cuts end in a recession, with equities driving metals lower in an extreme-stretch hangover
He expects crude to gravitate toward $70
Willem Middelkoop says gold miners out-earn tech on free cash flow yet trade at a fraction of tech valuations, framing them as an overlooked/undervalued trade.
Ed Dowd says gold hits $10,000 by 2030, after a crisis forces the Fed to print again.
Nomi Prins says rate cuts are coming to keep the $40 trillion debt serviceable.
Copper is his highest-conviction trade but at 'six and change' he is waiting for an AI-driven pullback
Silver miners offer better upside than the metal; stocks priced discounting $35 silver in a $75 market
Uranium 'cannot go wrong'
He sold ~80% of his physical silver because parabolic charts resolve to the downside
Contracting premiums and junk silver selling below spot are the tell of a hated market (i.e., a bottom, not a top)
The yen is at a four-decade low and remains weak
The US dollar is surging
Gold sells off to $3,600, the level where he buys back
A bet on beaten-down homebuilders
The selloff is another buying opportunity; still bullish gold on a three-to-five-year view
The US-Iran deal is a strategic blow to dollar dominance
Generalist investor demand plus miners' cash flow supports higher miner valuations
Silver miners are positioned to outrun the metal itself
A top setup with a landmine below the 7,000 level — breakout then breakdown
A rotation into emerging markets is underway
Supply crunch and the byproduct trap mean copper keeps repricing higher despite record prices
The bond market is flashing a severe warning with a sovereign debt crisis ahead
The AI tech bubble wealth will evaporate into 'money heaven'
Silver cycle target of $180
Gold cycle target of $6,800
Institutions will soon be forced to buy energy stocks on the physical energy reality behind the $725B AI buildout
AI infrastructure build-out and US deficit spending are fueling a 2-year market bubble, implying continued upside over roughly the next two years.
Contrarian 6-month forecast: an abundance of oil and a dramatic drop in oil prices, with the Strait of Hormuz threat overstated.
GDX miners are confirming the long-term precious metals rally.
Private credit assets face write-downs to zero amid $1.8 trillion of stress.
Institutions are distributing to retail and the private credit leverage trap will take markets 'into the abyss.'
Gold will fall first to establish a bottom before flying sky high.
The recent breakout in copper signals global economic expansion ('Dr Copper Expansion Signal'), asserted as a bullish development for copper.
Silver targets $80, $90 and $96 resistance levels.
A breakout above $4,900 could open the path toward $5,100 and a retest of the highs.
Crude oil could reach a $141 target.
Silver could reset down to $39 before offering a long-term buying opportunity.
We are in the 'Fall Phase' of the cycle with retail panic and a potential capitulation event coming in October; price targets for the current correction imply further downside.
Aging Baby Boomers are a severe demographic headwind for real estate; Dent has stepped away from housing.
Long-term US Treasury bonds and cash are the strategic wealth-preservation vehicles in the near term.
Gold has joined the everything bubble and will not act as a safe haven during the initial liquidation event.
Capital is currently rotating into Bitcoin.
The dollar's crisis bid is failing amid de-dollarization; dollar weakness ahead.
Soloway issues a warning for the S&P 500 amid the private credit crisis and liquidity squeeze.
Western 'Magnificent Seven' stocks face significant overinvestment risk in a Dot-Com 2.0 AI bubble.
$109 Brent oil is just the beginning of a fragmented, weaponized energy order.
This is the largest commodities bull market in history.
Mining equities are the 'turbo' opportunity on the metals move.
Silver is targeting $200.
$5 trillion of triple-B corporate debt sits one downgrade from junk, setting up a severe credit squeeze and forced selling.
Volatility is a tactical long as the paper-credit system exhausts.
Coal is one of Larry's tactical hard-asset picks.
Gold miners could face a 30% drawdown before the real rally.
A wave of defaults is coming in private credit, with Morgan Stanley warning of 8% default rates.
Gold reaches $6,000 by year-end as the Fed prioritizes cushioning the economy over fighting inflation.
Foreign investors are being forced to sell US Treasuries to finance energy deficits amid a 100-year sovereign debt bubble.
Palladium offers a glaring investment opportunity.
Platinum offers a glaring investment opportunity.
Dismisses the 'death of the dollar' narrative, noting the currency's continued strength against global peers.
Redeployed proceeds into silver stocks, which are more conservatively priced than the metal itself.
His silver speculation "has run its course"; he exited physical silver after a major move.
Copper Giant trades at ~1 cent per pound of copper in the ground vs. 15 cents in the Hudbay/Arizona Sonoran deal — a valuation gap Giustra calls a "no-brainer."
The current $6.00/lb copper price is just the baseline for a decade-long supply squeeze.
A 50 million pound near-term uranium deficit growing to 1.7 billion pounds by 2045 means "that deficit has to show up" in prices.
Junior miners will catch up to metal prices as institutions finally arrive.
Bought into Rio Silver in recent multimillion-dollar junior mining sweeps.
Aggressive capital deployment into Hycroft Mining (~40% ownership stake) on its mega resource.
Miners lag the metal but that is where the upside lies, driven by the "Pac-Man" M&A effect.
Feneck gives a specific buy rating on Power Nickel.
Feneck gives a specific buy rating on Paramount Gold.
Feneck gives a buy rating on Guardian Metal as a beneficiary of the tungsten shortage following China's export ban.
Capital is rotating out of crypto to chase momentum in precious metals.
The 29% silver 'flush' on Jan 30 was margin-driven and a buying opportunity, not a sell signal — silver goes higher.
Gold has surpassed the Euro and is replacing the dollar as the de facto central bank standard.
Favors big pharma over the S&P 500 for yield.
Favors natural gas pipelines over the S&P 500 for yield.
Major tech stocks are surrendering value as AI capex turns cash-generating machines into capital investment machines.
DXY breakdown to 95 signals further dollar weakness and support for metals.
Reduced positions in gold during the recent rally.
Platinum faces long development timelines and shortages that limit supply response, supporting higher prices.
"We are really in the beginning of a major super cycle in commodities."
Beaty calls the silver market "very frothy, very bubbly" and "overblown."
Sovereign IOUs are being repriced with yields rising in Japan, the US, and Europe; the risk-free asset has become "return-free risk."
Wheaton is positioned to extend record-high performance, expecting over $3 billion in cash flow in 2026 as streaming outperforms cost-pressured miners.
Silver miners present an investment opportunity at triple-digit prices given expanding margins.
Chassé gives a constructive outlook on copper and industrial metals.
Bitcoin is flashing a bullish signal that historically hits 97% of the time; long-term outlook is higher despite stalling around $90K resistance.
Thornton bets fertilizer/manure will outperform the S&P 500 this year.
Current silver weakness is just a 'tiny dip' in a supersonic bull market; shorting here is dangerous — silver holds the $71 line and continues higher.
Hitting $5,000 gold in 2026 is now a 'walk in the park.'