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.

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.

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.”

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.

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.

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.

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.

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. 

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.

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.

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.

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.

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. 

On Friday, December 1, 2023, spot gold bullion registered an all-time high closing price of $2,072.22, surpassing the prior closing high of $2,063.54 reached on August 6, 2023.

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. 

The Fed's "higher for longer" stance on interest rates is unsustainable and could lead to a general credit deflation and a recession. Trouble is brewing in the banking system and the labor market, which could further support a rise in gold prices.

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.

John Ciampaglia discusses the current state of the gold market, the resilience of uranium, the growth of the battery metals sector and Sprott’s focus on providing investors with access to energy transition investments. 

Central banks and investment funds were the main players shaping the gold market in the first half of the year. Gold is reverting to its historical role as a significant reserve asset as central banks seek to diversify amid geopolitical uncertainties.

Gold mining stocks are inextricably connected to the price behavior of gold bullion. Yet their recent response to the gold bull market has been disappointing. If gold should rise above the psychological $2,000 threshold, this may provide a strong catalyst for gold mining stocks. 

Gold attempted to breakout above $2,050 in early May before drifting lower as the U.S. debt-ceiling drama deepened and the U.S. dollar strengthened. At the same time, global central banks have been accumulating gold at a record pace. 

"In our opinion, the term showdown is an apt description of the current situation, in which economic, political and social developments are on the brink of a fundamental change of course. The current situation is also unique because we are not dealing with a singular showdown. Multiple escalations are occurring simultaneously and have the potential to further inflame each other."

Replay our webcast featuring John Hathaway and Doug Groh, discussing the current outlook for gold and gold mining equities. Gold has proven to be an effective safe haven asset during this challenging period.

Sprott CEO Whitney George discusses the growing interest in critical minerals investing. George explains how Sprott has expanded beyond "all things gold" to offer physical uranium and is now a recognized asset manager in the energy transition space.

The gold market continues to be bullish as the probability of a recession rises, regional banking stress resurfaces and the Fed seems determined " get inflation down to 2%, over time".

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.

Gold posted a solid Q1 2023 gain of 7.96%, and is now up 21.38% from last autumn's low (9/26/22) following the most aggressive central bank purchases in decades and gold investment flows catalyzed by the U.S. banking crisis. 

"The yellow metal has no counterparty risk (unlike all other financial instruments including bank deposits and government bonds), is highly liquid and has an unbroken record of retaining value in absolute terms and relative to financial assets."

Ed Coyne joins Asset TV and a panel of experts to discuss the constantly evolving discourse surrounding ESG, challenges faced in standardizing ESG ratings and ESG-based investing. 

Gold fell in February, closing the month at $1,827 in a correction characterized by a stall in buying, but not selling. Global central banks have been buying gold at record rates; more than three times their long-term averages.

January was another positive month for gold bullion. We saw strong gold buying from China, with estimated tonnes purchased at the highest level since 2017.

This year’s top 10 list offers Sprott’s thoughts on what will likely drive markets in the coming year and decade, from a macro perspective and the vantage of our asset classes: Precious Metals and Energy Transition Materials. 

Gold was an effective hedge in 2022, returning -0.28% for the bear market year. The yellow metal outperformed the S&P 500 Index, which declined 18.11%. Gold mining equities also outpaced the S&P 500. 

Gold and gold mining equities posted strong results in November, up 8.26% and 16.79%, respectively. Silver gained 15.81%. Risk assets were catalyzed higher by the Fed's signal that it would slow the pace of rate hikes.

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. 

The tough year continued in October for many asset classes, including gold and other precious metals. Gold demand, however, was strong in Q3 2022 as long-term investors took advantage of lower prices to build positions.

"The parabolic rise in the dollar contains the seeds of its own demise. The façade of dollar strength foretells a comeuppance for all currencies in the form of a steep devaluation in terms of gold."

Since Q2 2020, gold has held above $1,700 but in mid-September, a significant risk-off wave occurred, breaking nearly every risk asset lower. The primary causes were higher than expected inflation data forcing yields (especially real yields) and the USD higher, two important gold drivers.

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%.

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.

If the Fed is to abandon the practice of inflating financial assets, which would represent a secular shift in direction, substantial deflation lies ahead from which the purchasing power of gold is expected increase in real terms.

Gold continued to perform as a safe haven store of value in what has been one of the most challenging six-month periods for markets in decades. Gold has managed to stay above the $1,800 support level despite the broader market carnage.

Ted Oakley interviews Sprott's John Hathaway on the gold bullion and equities markets. Oakley and Hathaway discuss why investors should consider adding gold to investment portfolios and how gold affects portfolio diversification.

May saw selling across most asset classes and scant appetite for safe haven assets such as gold. However, gold bullion has outperformed many other asset classes YTD and continues to do its job. 

Just as we predicted the current wave of inflation in 2020 without going far out on a limb, we are also not going out on a limb with our announcement of persistent stagflation.

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%.

The price of gold has been treading water for 10 years while the investment fundamentals have improved dramatically. That is why, in our opinion, significant upside lies ahead for gold and related equities. 

Gold posted its all-time highest quarterly close on March 31, 2022, ending a volatile month that helped gold climb above $2,070 on March 8. While gold may have climbed back to its highs on safe-haven flows, other positive gold supports are definitely in play.

"The Russian-Ukraine conflict is probably one of the biggest macro drivers in the marketplace... Before Russia-Ukraine, the gold market had started shaking off the hawkish Fed rhetoric. Russia-Ukraine has just amplified gold's value as a safe haven asset."

Throughout history, gold has played a prominent role in the advancement of human civilization. Seen as a representation of the sun, of the gods and of true value, gold is a form of real money without counterparty risks. Learn about gold’s culture, uses and history.

Gold bullion is up 4.36% YTD through February 28, 2022, and silver bullion has increased 4.90%. Gold mining equities rallied. Investors sought safe-haven assets given the heightened concerns over rising interest rates and the escalation of the Russia-Ukraine conflict.

Stephanie Pomboy and Grant Williams interview a true legend of the precious metals industry, John Hathaway. The three discuss the Fed, inflation, the financial markets and the outlook for gold bullion and gold stocks. 

"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."

Gold reached a high of $1,848 in January, but slid following the Fed's exceptionally hawkish statements at the January FOMC meeting. Market risks are rising and we believe that gold, as it did in 2018, is likely to stage a breakout given its safe haven characteristics.

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. 

With Fed policy taking a more hawkish turn, the fire hose of liquidity that has fueled market mania is being turned off. At this moment, it appears that confidence in the Fed and attraction to gold are binary.