India pension funds buy gold

New structural demand from pension funds.

U.S. gold investors Vs. gold price

If US private investors double their gold portfolio, gold will go up 20%. 

IEA Oil Glut

Do not buy oil. 

Silver demand from EV

Silver Institute report.

Real inflation adjusted silver

Silver is going a lot higher. 

Silver to $500

Silver is going to $500.

USD Overvalued

The USD is overvalued. 

Copper mine supply disruptions

Copper supply will be weak in the coming years. Silver as well.

Oil CAPEX/Amortization Ratio

When oil CAPEX is higher than amortization, production will rise. 

Yardeni $10000 gold

Yardeni targets for 2030:

- Gold: $10000 (+150%)

- S&P 500: $10000 (+50%)

Silver demand

A nice industry. 

JP Morgan: $30 oil

JPM $30 oil.

Goldman Sachs: Oil $40

Oil $40.

USD vs Gold

 Usd vs gold.

Sprott Inc. Update

Buys: New Gold, Barrick, Coeur, Endeavour Silver, Equinox, energy and coal.

Sells: Sandstorm, Fortuna, Pan American.

 

USD losing reserve currency status

USD losing. 

China's Silver on Critical Minerals List

On Oct 26, MOFCOM announced that tungsten, antimony, and silver will be added to China’s Key Export Supervision Catalog beginning November 2025. Exports will now require quota review and joint approval, replacing the prior self-reporting system. This means tightened export oversight through 2027 — not a relaxation of controls. While U.S. sources may highlight “general license” discussions, the official Chinese policy text confirms continued regulation of these critical minerals. For markets dependent on antimony, this underscores the strategic importance of North American supply chains and verified domestic production capacity. This notice tightens export controls, not loosens them — it shows that as of late October 2025, tungsten, antimony, and silver are now under stricter export supervision requiring government review and approval (rather than being freely exportable). So, contrary to the rumors about “general licenses removing controls,” this Chinese government release actually confirms the continuation or expansion of export controls into 2026–2027.

Remember, China exports a lot of silver.

U.S. Deficit Projections

U.S. deficits expected to rise.

 

Put/Call Ratio Gold

Put/Call ratio > 1. Bearish.
Put/Call ratio < 1. Bullish.

A low Put/Call ratio signifies support for the gold price.

Berezin: Gold Quant Model

Berezin gold quant model is bullish gold.

Goldman: $4900 Gold

Gold will keep rising to $5000. 

India Silver Collateral

India is turning silver into money. 

IEA Oil Supply and Demand

Oil is getting worse. 

Due to oil on water.

Production still needs to rise.

Copper Supply Shock

Copper will be bullish. 

TIPS Rolling Over

TIPS is about to roll over. 

Lower TIPS boosts gold upward.

TIPS lower due to rate cuts and higher inflation outlook.

Photovoltaic demand silver

Photovoltaics are headed to 20% of total silver demand. 

Selling Bonds for Gold

This doesn't stop. 

Silver Explosion

$70 silver consensus.

U.S. Dollar Cycle

U.S. dollar about to drop. 

S&P500 Equity Returns

Good luck! 

Mining Attractiveness - Political Risk

Mining Attractiveness - Political Risk 

J.P. Morgan: Buy Gold, Silver and Platinum

Buy gold, silver, platinum. Sell oil, base metals.

Goldman Sachs: $5000 gold

It is possible. 

Job Openings Diving

Lowest job openings. 

Central Bank Gold Demand

Central bank gold demand is flattening.