Archive for Opinions – Page 23

10 Jul

Does Gold Have Much Farther To Run?

Source: Clive Maund (7/10/25)

Technical Analyst Clive Maund shares his thoughts on where he believes gold is headed. 

Gold has made impressive gains so far this year, but when it spiked up to touch $3500 in the middle of April it become heavily overbought which is why it then went into a rectangular consolidation pattern that has given time for the overbought condition to fully unwind, as shown by the MACD indicator on its 6-month chart below, and has also allowed its moving averages to catch up, especially the 50-day which has now fully closed the gap with the price.

Because there is still a considerable gap with the 200-day it means that there is room for the price to break down from the Rectangle and correct back towards or to this average. In attempting to weigh the probability of this happening versus the price instead breaking out upside from the Rectangle, we need to inspect the volume pattern and volume indicators, which normally provide valuable clues in a situation like this.

However, volume and volume indicators are no longer provided by Stockcharts for the metals but we can get around this problem by using a chart for the same time period for reliable gold proxy SPDR Gold Shares, whose chart is almost identical, which does show volume and volume indicators.

So, on the 6-month chart for SPDR Gold Shares, we see that, while the volume pattern is a little hard to decipher, the Accumulation line has continued to trend higher from the April peak as the price has tracked sideways and has even made new highs in recent days.

This is bullish and implies that, rather than breaking lower into a correction, GLD and thus gold itself will instead break higher into a new upleg. If it does break lower a likely scenario is that a short, sharp drop is followed by a rapid reversal to the upside.

Zooming out now to look at gold on a longer-term 6-year log scale chart we see that it broke out early last year from a big trading range to commence a powerful uptrend — an uptrend that remains very much in force, with the price still well above the lower rail of the channel — even if it broke down from the Rectangle shown on the chart above and dropped to the $3100 level it would not violate this channel.

On this chart, we can better see just how overbought gold got last April, hence the trading range that has since formed that we looked at above.

Zooming out again via a very long-term log-scale chart going all the way back to the start of the millennium, i.e., to the year 2000, affords us an overall Big Picture perspective.

This chart makes clear that the breakout early last year from the large trading range that started to form in the middle of 2020 actually marked the breakout from the Handle of a gigantic Cup & Handle continuation pattern that started to form as far back as 2012.

This is a truly enormous consolidation pattern that certainly has the capability to support a correspondingly big bull market and as we are only about 16 months into this major new bull market, it clearly has much further to run.

In conclusion, we are looking for a breakout from the current rectangular trading range that has formed from April into another major upleg. If gold should instead break down from this range and correct back towards or to its rising 200-day moving average and the lower rail of its uptrend channel, it should then reverse back to the upside into a vigorous uptrend.

Volume indicators are suggesting that the former scenario — a breakout into another upleg from the trading range without any further corrective action first — is more likely to prevail.

 

Important Disclosures:

  1. Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found  below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
  2. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

For additional disclosures, please click here.

Clivemaund.com Disclosures

The quoted article represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund’s opinions are his own, and are not a recommendation or an offer to buy or sell securities. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund’s opinions on the market and stocks cannot be  only be construed as a recommendation or solicitation to buy and sell securities.

Metals Opinions
09 Jul

The Index Almost No One Is Watching . . . But Should Be

Source: John Newell (7/7/25) 

John Newell of John Newell & Associates explains why he thinks more people should be looking at the S&P/TSX Venture Composite Index (CDNX).

There’s an old market adage: “Stocks go down in an elevator and up in a staircase.”

That sums up the S&P/TSX Venture Composite Index (CDNX) over the last 15 years, except this time, it didn’t just go down in an elevator. It got trapped in the basement, and every breakout attempt was met with rejection.

Now, it’s not just climbing, it’s breaking out. And hardly anyone’s paying attention.

The CDNX, Canada’s benchmark for early-stage resource and technology companies, has emerged from one of the longest and most painful sideways-to-down periods in its history. For over a decade, it’s been ignored by the mainstream, starved of capital, and left for dead by speculators who moved on to crypto, cannabis, AI, or just gave up.

But that’s changed. The long-term technicals are flashing green. Capital is rotating back into exploration. And the macro story, anchored by gold, copper, and the metals that power the global shift to electrification, is stronger than it’s been in years.

The Setup: Same Way Down, Same Way Up?

Pull up the long-term CDNX chart and you’ll see a dramatic elevator drop from the 2011 highs.

What followed was a decade-long churn that wore out all but the most patient investors. But the pattern that’s forming now? It looks a lot like the mirror image of the move down.

Same way down, same way up?

On the weekly chart, price has broken above long-term moving averages and resistance levels.

Technical targets are activating at 775, 1025, 1325, and 1480. And the long-term Big picture target?

3550, the level where everything started to unravel more than a decade ago.

This isn’t guesswork. It’s price memory. And markets never forget.

Amazon had 20% Corrections Too

Worried about volatility? Looking for the perfect entry? Consider Amazon.com Inc. (AMZN:NASDAQ).

Since the early 2000s, Amazon has gone through more than 15 corrections of 20% or more. Some were over 50%. That’s the price of conviction. And most investors can’t pay it.

If you want generational wealth, you don’t sit in the stands waving pom-poms, you put the pads on and step onto the field.

We celebrate Amazon, Microsoft, and Home Depot as legendary compounders. But almost no one held them through all the turbulence.

Now compare that to junior mining.

You’re not holding for 20 years, waiting on a trillion-dollar valuation. You’re hunting for a discovery, a single drill hole, or deal, that re-rates a company’s valuation in weeks. These aren’t slow burns.

They’re liftoff points.

This Isn’t Just a Rebound. It’s a Rotation.

The CDNX is heavily weighted toward the materials sector, about 40–50%, with gold and silver explorers doing most of the lifting. Base metals like copper and uranium are gaining momentum as investors wake up to the structural shortfalls in global supply.

This index doesn’t move unless real capital is coming back into exploration. And it is.

With gold now holding above $3,300 and copper emerging from a massive base, this isn’t just a bounce, it’s a rotation back to real assets. And junior miners, most of which are still trading near historic lows, are still early in that rotation.

The Venture Exchange is where the rerates happen first.

The Opportunity in One Chart

The index tells us capital is starting to flow. But if you want a more visceral example, take a look at what just happened with ArcWest Exploration Inc. (AWX:TSX.V).

In December 2024, the company was trading at $0.06 with a market cap of ~$5.5 million.

Then, in early July, they announced a $4 million drill program funded by a major.

The stock surged to $0.25 in three days, a revaluation to $22.5 million.

No results, no new resource, no discovery, just a funded drill commitment.

That’s what this part of the market can do.

At the risk of cherry-picking, Arc West shows how fast capital can reprice a stock when sentiment flips. And we’re starting to see more examples like this appear, quietly, for those paying attention.

Final Word

You hear it all the time: “If I’d just held Amazon, I’d be rich.” Sure. But how many did?

Junior mining is different. You don’t need to hold for decades. You just need to spot when a forgotten corner of the market is waking up and be early.

The TSX Venture Index is waking up. Few are watching. But for those willing to take a contrarian position, with eyes wide open, this may be the most explosive setup in the market today.

Like all great trades, it rewards action, not comfort.

 

Important Disclosures:

  1. John Newell: I, or members of my immediate household or family, own securities of: None. My company has a financial relationship with: None. My company has purchased stocks mentioned in this article for my management clients: None. I determined which companies would be included in this article based on my research and understanding of the sector.
  2. Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found  below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
  3.  This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

For additional disclosures, please click here.

John Newell Disclaimer

As always it is important to note that investing in precious metals like silver carries risks, and market conditions can change violently with shock and awe tactics, that we have seen over the past 20 years. Before making any investment decisions, it’s advisable consult with a financial advisor if needed. Also the practice of conducting thorough research and to consider your investment goals and risk tolerance.

Opinions Stock Market News
09 Jul

US Copper hits records on Trump’s 50% tariff threat

By ForexTime 

  • US copper hits fresh all-time highs 
  • Trump announces 50% tariffs on copper imports
  • Prices firmly bullish on D1, but RSI overbought 

Copper futures in New York surged to records on Tuesday after Trump announced a higher-than-expected 50% tariff on copper imports.

Prices jumped as high as $5.818, pushing 2025 gains to more than 36%.

Note: FXTM Copper tracks Copper futures on the New York Mercantile Exchange’s COMEX division.

The prospect of steep tariffs may fuel more buying of copper before the levies officially come into effect. However, no date has been confirmed yet. 

Still, this development could spark major supply-chain ripples through global metal markets. This is already being reflected in LME copper, which has dropped as much as 2% before later rebounding.

Note: LME (London Metal Exchange) copper serves as a global benchmark for copper prices. 

Copper prices are firmly bullish, but the Relative Strength Index (RSI) is heavily overbought.

  • BULLISH – Should $5.4 prove to be reliable support, prices may push back toward the all-time high at $5.8183 and the next psychological level at $6.0.
  • BEARISH – Weakness below $5.4 could trigger a decline back toward $5.12.
copper 5
 

Forex-Time-LogoArticle by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

Metals Opinions
09 Jul

From glass and steel to rare earth metals, new materials have changed society throughout history

By Peter Mullner, Boise State University 

Many modern devices – from cellphones and computers to electric vehicles and wind turbines – rely on strong magnets made from a type of minerals called rare earths. As the systems and infrastructure used in daily life have turned digital and the United States has moved toward renewable energy, accessing these minerals has become critical – and the markets for these elements have grown rapidly.

Modern society now uses rare earth magnets in everything from national defense, where magnet-based systems are integral to missile guidance and aircraft, to the clean energy transition, which depends on wind turbines and electric vehicles.

The rapid growth of the rare earth metal trade and its effects on society isn’t the only case study of its kind. Throughout history, materials have quietly shaped the trajectory of human civilization. They form the tools people use, the buildings they inhabit, the devices that mediate their relationships and the systems that structure economies. Newly discovered materials can set off ripple effects that shape industries, shift geopolitical balances and transform people’s daily habits.

Materials science is the study of the atomic structure, properties, processing and performance of materials. In many ways, materials science is a discipline of immense social consequence.

As a materials scientist, I’m interested in what can happen when new materials become available. Glass, steel and rare earth magnets are all examples of how innovation in materials science has driven technological change and, as a result, shaped global economies, politics and the environment.

A diagram showing red arrows, labeled 'politics in' 'society in' 'environment in' 'technology in' etc, leading to a box labeled 'innovation' with arrows pointing away from that box with the same labels but 'out' instead of 'in.'
How innovation shapes society: Pressures from societal and political interests (orange arrows) drive the creation of new materials and the technologies that such materials enable (center). The ripple effects resulting from people using these technologies change the entire fabric of society (blue arrows).
Peter Mullner

Glass lenses and the scientific revolution

In the early 13th century, after the sacking of Constantinople, some excellent Byzantine glassmakers left their homes to settle in Venice – at the time a powerful economic and political center. The local nobility welcomed the glassmakers’ beautiful wares. However, to prevent the glass furnaces from causing fires, the nobles exiled the glassmakers – under penalty of death – to the island of Murano.

Murano became a center for glass craftsmanship. In the 15th century, the glassmaker Angelo Barovier experimented with adding the ash from burned plants, which contained a chemical substance called potash, to the glass.

The potash reduced the melting temperature and made liquid glass more fluid. It also eliminated bubbles in the glass and improved optical clarity. This transparent glass was later used in magnifying lenses and spectacles.

Johannes Gutenberg’s printing press, completed in 1455, made reading more accessible to people across Europe. With it came a need for reading glasses, which grew popular among scholars, merchants and clergy – enough that spectacle-making became an established profession.

By the early 17th century, glass lenses evolved into compound optical devices. Galileo Galilei pointed a telescope toward celestial bodies, while Antonie van Leeuwenhoek discovered microbial life with a microscope.

A large round, convex glass lens mounted on a metal stand, with a technician wearing scrubs looking at it.
The glass lens of the Vera Rubin Observatory, which surveys the night sky.
Large Synoptic Survey Telescope/Vera Rubin Observatory, CC BY

Lens-based instruments have been transformative. Telescopes have redefined long-standing cosmological views. Microscopes have opened entirely new fields in biology and medicine.

These changes marked the dawn of empirical science, where observation and measurement drove the creation of knowledge. Today, the James Webb Space Telescope and the Vera C. Rubin Observatory continue those early telescopes’ legacies of knowledge creation.

Steel and empires

In the late 18th and 19th centuries, the Industrial Revolution created demand for stronger, more reliable materials for machines, railroads, ships and infrastructure. The material that emerged was steel, which is strong, durable and cheap. Steel is a mixture of mostly iron, with small amounts of carbon and other elements added.

Countries with large-scale steel manufacturing once had outsized economic and political power and influence over geopolitical decisions. For example, the British Parliament intended to prevent the colonies from exporting finished steel with the iron act of 1750. They wanted the colonies’ raw iron as supply for their steel industry in England.

Benjamin Huntsman invented a smelting process using 3-foot tall ceramic vessels, called crucibles, in 18th-century Sheffield. Huntsman’s crucible process produced higher-quality steel for tools and weapons.

One hundred years later, Henry Bessemer developed the oxygen-blowing steelmaking process, which drastically increased production speed and lowered costs. In the United States, figures such as Andrew Carnegie created a vast industry based on Bessemer’s process.

The widespread availability of steel transformed how societies built, traveled and defended themselves. Skyscrapers and transit systems made of steel allowed cities to grow, steel-built battleships and tanks empowered militaries, and cars containing steel became staples in consumer life.

Bright hot metal pouring out of a large metal furnace.
White-hot steel pouring out of an electric arc furnace in Brackenridge, Penn.
Alfred T. Palmer/U.S. Library of Congress

Control over steel resources and infrastructure made steel a foundation of national power. China’s 21st-century rise to steel dominance is a continuation of this pattern. From 1995 to 2015, China’s contribution to the world steel production increased from about 10% to more than 50%. The White House responded in 2018 with massive tariffs on Chinese steel.

Rare earth metals and global trade

Early in the 21st century, the advance of digital technologies and the transition to an economy based on renewable energies created a demand for rare earth elements.

A wind turbine with three thin blades rising out of the water.
Offshore turbines use several tons of rare earth magnets to transform wind into electricity.
Hans Hillewaert/Wikimedia Commons, CC BY-SA

Rare earth elements are 17 chemically very similar elements, including neodymium, dysprosium, samarium and others. They occur in nature in bundles and are the ingredients that make magnets super strong and useful. They are necessary for highly efficient electric motors, wind turbines and electronic devices.

Because of their chemical similarity, separating and purifying rare earth elements involves complex and expensive processes.

China controls the majority of global rare earth processing capacity. Political tensions between countries, especially around trade tariffs and strategic competition, can risk shortages or disruptions in the supply chain.

The rare earth metals case illustrates how a single category of materials can shape trade policy, industrial planning and even diplomatic alliances.

Six small piles of rock
Mining rare earth elements has allowed for the widespread adoption of many modern technologies.
Peggy Greb, USDA

Technological transformation begins with societal pressure. New materials create opportunities for scientific and engineering breakthroughs. Once a material proves useful, it quickly becomes woven into the fabric of daily life and broader systems. With each innovation, the material world subtly reorganizes the social world — redefining what is possible, desirable and normal.

Understanding how societies respond to new innovations in materials science can help today’s engineers and scientists solve crises in sustainability and security. Every technical decision is, in some ways, a cultural one, and every material has a story that extends far beyond its molecular structure.The Conversation

About the Author:

Peter Mullner, Distinguished Professor in Materials Science and Engineering, Boise State University

This article is republished from The Conversation under a Creative Commons license. Read the original article.

Economics & Fundamentals Opinions
08 Jul

Gold: From Ancient Treasures to Tomorrow’s Wealth Standard

Source: Brian Hicks (7/7/25) 

Brian Hicks of Wealth Daily shares his thoughts on gold’s importance and how he believes NatGold Digital Ltd. represents a great opportunity to capitalize on gold.

Throughout human history, great societies have constructed their wealth upon golden foundations — from Roman vaults and imperial Chinese treasuries to Spanish vessels during the golden age of exploration.

In our modern era, gold transcends mere ornaments or ingots; it represents global power dynamics, international reserve banking, and a stabilizing force against currency uncertainty. Within this unfolding narrative, my bold projection — $16,402 per ounce — reflects both historical patterns and calculated foresight.

Let me explain why precious metal markets are poised for an unprecedented upward trajectory, examining the evidence. . .

Financial Titan’s Resource Stockpiling

Investment legend Ray Dalio, who established Bridgewater Associates, consistently advocates for gold as protection against monetary devaluation and institutional vulnerabilities. His Bridgewater funds recently expanded physical gold holdings substantially, directing $319 million during the year’s first quarter alone.

His reasoning stems from historical understanding: tracking gold’s evolution. Dalio’s perspective aligns perfectly with our analysis: Gold’s thousand-year journey now intersects with dollar weakness, mounting international liabilities, and transforming global hierarchies. His guiding principle resonates: Gold exists “independent of any one nation’s economy.”

Wealthy Investors Securing Mining Interests

This precious metal pursuit extends beyond major investment firms. Ultra-wealthy individuals are claiming their stakes.

  • John Paulson — renowned from the 2008 financial meltdown — anticipates $5,000 gold within three years. He’s invested $1 billion into Alaska’s Donlin Gold venture, targeting one of Earth’s richest undeveloped reserves. His analysis suggests that central banking institutions pivoting from traditional currencies drives this movement.
  • Thomas Kaplan — mining entrepreneur and Donlin participant through NovaGold Resources Inc. (NG:TSX; NG:NYSE.MKT) — supports this optimistic outlook. His Kaplan Doctrine advises investing in premium, expandable deposits within secure jurisdictions. This pattern reveals a broader shift: Financial elites transitioning from passive bullion ownership to enhanced exposure via mining operations.

I’m thoroughly convinced my $16,402 price target isn’t mere speculation — it’s a calculated strategy.

Reserve Banks: Contemporary Gold Guardians

National reserve institutions propel gold’s market ascension. A January 2025 HSBC survey spanning 72 central banks discovered over one-third planned to boost gold reserves — with none indicating reductions.

Bloomberg confirms: “Central banks will keep buying gold in a push to diversify away from paper currencies amid political and economic upheaval.”

BRICS nations (Brazil, Russia, India, China, South Africa) spearhead this accumulation. Russia has amassed reserves since its 2022 asset confiscation — a cautionary lesson about traditional currency risks. China and India, culturally connected to gold, have expanded both national reserves and domestic bullion demand. As one market observer noted, gold increasingly serves as the “de-dollarization tool” against Western financial influence.

BRICS Alliance and Gold-Centered Economic Systems

The BRICS coalition represents more than trade partnerships and political alignment — it signals monetary strategy evolution. India, China, Russia, and additional members explore de-dollarized trade settlements, potentially incorporating gold-backed frameworks. While a formal “gold-based currency” partnership remains aspirational, the momentum grows undeniably.

BRICS participants actively expand gold reserves for financial security. A popular phrase circulates among their strategists: “When U.S. paper whispers, BRICS gold roars.” As international power structures evolve, gold assumes a transformative role in global finance.

The Weakening Foundation: Diminishing American Currency

The inverse relationship between gold and dollar values follows predictable patterns — yet accelerates now. The dollar confronts:

  • Exploding federal obligations (approaching 140% of GDP)
  • Persistent government shortfalls
  • Federal Reserve independence challenges, heightening inflation worries
  • Recurring international commerce disputes, undermining dollar confidence

These circumstances create ideal conditions for gold’s ascendancy. Our $16,402 forecast depends on continued dollar deterioration — a narrative seemingly shared by Dalio, Paulson, and monetary authorities worldwide.

Eastern Hemisphere’s Consumer Gold Enthusiasm

Asia — the global gold epicenter — maintains impressive momentum. Singapore Bullion Market Association reporting emphasizes regional consumer appetite. Yet our pathway toward $16,402 isn’t fantasy—it’s a narrative where:

Our $16,402 projection captures gold’s multifaceted convergence, representing more than mere valuation but fundamental significance. Amid currency vulnerability and global transformation, gold transcends simple hedging — it embodies historical continuity.

Now, considering gold’s trajectory toward $16,402 per ounce (many analysts project even higher valuations), NatGold Digital Ltd. represents exceptional opportunity.

Consider this crucial point: As gold appreciates, its fundamental worth increases. However, extraction expenses remain relatively stable, meaning NatGold token values will skyrocket dramatically . . . alongside your investment returns.

Let me elaborate…

How NatGold Tokens Enable Ownership Before Wall Street’s Discovery

Imagine obtaining shares in America’s subterranean gold wealth — before extraction begins. Imagine preceding Wall Street, exchange listings, and media coverage. And imagine this investment representing not just precious metal . . . but American prosperity itself.

This embodies NatGold Tokens — pioneering blockchain-secured gold certificates directly linked to verified, untouched, domestic gold deposits within American borders. This isn’t conventional stock ownership, exchange-traded funds, or another digital currency. It represents digital gold’s evolutionary leap — and following recent American economic policy shifts, could soon become central to national financial strategy.

Presidential Initiative: Establishing $12 Trillion National Investment Fund

Earlier this year, Executive Order 14241 received presidential authorization, enabling development across 640 million federal acres containing approximately $100 trillion in untapped mineral resources.

This encompasses substantial copper, uranium, rare earth elements, and crucially: gold reserves.

The presidential vision?

Creating an American Sovereign Wealth Fund utilizing tokenized natural assets — finally monetizing underground national treasures without decades-long permitting delays.

Simply stated, America is beginning to digitize its inherent wealth, with NatGold pioneering this transformation.

Digitizing Inaccessible Resources: Major Deposits Nationwide

For generations, America has possessed some earth’s most valuable — yet unavailable — gold deposits.

  • Northern Dynasty Minerals Ltd.’s (NDM:TSX; NAK:NYSE.MKT) Pebble Creek (Alaska) — Among the world’s largest undeveloped gold-copper resources, delayed through environmental regulatory challenges.
  • Nova Gold Resources Inc.’s (NG:NYSE) Donlin Gold (Alaska) — Contains over 39 million gold ounces, with regulatory hurdles preventing development across decades.
  • Ruth, Nevada — Premium gold concentration zone with billions in buried assets, largely abandoned through outdated extraction regulations.

These represent merely several “stranded resources” NatGold aims to unlock, not through physical extraction but digital tokenization. Each NatGold Token is supported by an authentic geological assessment verified through NI 43-101 protocols, providing token holders with a legal interest in these assets. This represents gold ownership without equipment, permits, or litigation, and zero environmental impact.

Gold: Returning as American Monetary Foundation

Since 1971, American currency has operated independently, without gold backing. Yet historical patterns often circle back. With global debt expansion, persistent inflation, and competing economies like BRICS planning gold-backed currencies, America quietly reintroduces gold into economic discussions.

Presidential conversations have included potential new gold standards — utilizing blockchain technology. Consequently, gold ownership becomes not merely prudent, but potentially fundamental to the American fiscal framework. Through NatGold Tokens, everyday investors participate before institutional recognition.

 

Important Disclosures:

  1. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of NatGold Digital Ltd.
  2. Brian Hicks: I, or members of my immediate household or family, own securities of: NatGold Digital Ltd. My company has a financial relationship with: None. My company has purchased stocks mentioned in this article for my management clients: None. I determined which companies would be included in this article based on my research and understanding of the sector.
  3. Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found  below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
  4.  This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

For additional disclosures, please click here.

Metals Opinions
03 Jul

Hurricane forecasters are losing 3 key satellites ahead of peak storm season − a meteorologist explains why it matters

By Chris Vagasky, University of Wisconsin-Madison 

About 600 miles off the west coast of Africa, large clusters of thunderstorms begin organizing into tropical storms every hurricane season. They aren’t yet in range of Hurricane Hunter flights, so forecasters at the National Hurricane Center rely on weather satellites to peer down on these storms and beam back information about their location, structure and intensity.

The satellite data helps meteorologists create weather forecasts that keep planes and ships safe and prepare countries for a potential hurricane landfall.

Now, meteorologists are about to lose access to three of those satellites.

On June 25, 2025, the Trump administration issued a service change notice announcing that the Defense Meteorological Satellite Program, DMSP, and the Navy’s Fleet Numerical Meteorology and Oceanography Center would terminate data collection, processing and distribution of all DMSP data no later than June 30. The data termination was postponed until July 31 following a request from the head of NASA’s Earth Science Division.

How hurricanes form. NOAA

I am a meteorologist who studies lightning in hurricanes and helps train other meteorologists to monitor and forecast tropical cyclones. Here is how meteorologists use the DMSP data and why they are concerned about it going dark.

Looking inside the clouds

At its most basic, a weather satellite is a high-resolution digital camera in space that takes pictures of clouds in the atmosphere.

These are the satellite images you see on most TV weather broadcasts. They let meteorologists see the location and some details of a hurricane’s structure, but only during daylight hours.

Hurricane Flossie spins off the Mexican coast on July 1, 2025. Images show the top of the hurricane from space as day turns to night. NOAA GOES

Meteorologists can use infrared satellite data, similar to a thermal imaging camera, at all hours of the day to find the coldest cloud-top temperatures, highlighting areas where the highest wind speeds and rainfall rates are found.

But while visible and infrared satellite imagery are valuable tools for hurricane forecasters, they provide only a basic picture of the storm. It’s like a doctor diagnosing a patient after a visual exam and checking their temperature.

Infrared bands show more detail of Hurricane Flossie’s structure on July 1, 2025. NOAA GOES

For more accurate diagnoses, meteorologists rely on the DMSP satellites.

The three satellites orbit Earth 14 times per day with special sensor microwave imager/sounder instruments, or SSMIS. These let meteorologists look inside the clouds, similar to how an MRI in a hospital looks inside a human body. With these instruments, meteorologists can pinpoint the storm’s low-pressure center and identify signs of intensification.

Precisely locating the center of a hurricane improves forecasts of the storm’s future track. This lets meteorologists produce more accurate hurricane watches, warnings and evacuations.

Hurricane track forecasts have improved by up to 75% since 1990. However, forecasting rapid intensification is still difficult, so the ability of DMPS data to identify signs of intensification is important.

About 80% of major hurricanes – those with wind speeds of at least 111 mph (179 kilometers per hour) – rapidly intensify at some point, ramping up the risks they pose to people and property on land. Finding out when storms are about to undergo intensification allows meteorologists to warn the public about these dangerous hurricanes.

Where are the defense satellites going?

NOAA’s Office of Satellite and Product Operations described the reason for turning off the flow of data as a need to mitigate “a significant cybersecurity risk.”

The three satellites have already operated for longer than planned.

The DMSP satellites were launched between 1999 and 2009 and were designed to last for five years. They have now been operating for more than 15 years. The United States Space Force recently concluded that the DMSP satellites would reach the end of their lives between 2023 and 2026, so the data would likely have gone dark soon.

Are there replacements for the DMSP satellites?

Three other satellites in orbit – NOAA-20, NOAA-21 and Suomi NPP – have a microwave instrument known as the advanced technology microwave sounder.

The advanced technology microwave sounder, or ATMS, can provide data similar to the special sensor microwave imager/sounder, or SSMIS, but at a lower resolution. It provides a more washed-out view that is less useful than the SSMIS for pinpointing a storm’s location or estimating its intensity.

Two satellite views of the same storm from different instruments. The SSMIS provides higher resolution of the storm.
Images of Hurricane Erick off the coast of Mexico, viewed from NOAA-20’s ATMS (left) and DMPS SSMIS (right) on June 18 show the difference in resolution and the higher detail provided by the SSMIS data.
U.S. Naval Research Laboratory, via Michael Lowry

The U.S. Space Force began using data from a new defense meteorology satellite, ML-1A, in late April 2025.

ML-1A is a microwave satellite that will help replace some of the DMSP satellites’ capabilities. However, the government hasn’t announced whether the ML-1A data will be available to forecasters, including those at the National Hurricane Center.

Why are satellite replacements last minute?

Satellite programs are planned over many years, even decades, and are very expensive. The current geostationary satellite program launched its first satellite in 2016 with plans to operate until 2038. Development of the planned successor for GOES-R began in 2019.

Similarly, plans for replacing the DMSP satellites have been underway since the early 2000s.

Scientists and engineers in protective white lab clothing use a lift to move a satellite vertical for loading aboard a rocket for launch.
Scientists prepare a GOES-R satellite for packing aboard a rocket in 2016.
NASA/Charles Babir

Delays in developing the satellite instruments and funding cuts caused the National Polar-orbiting Operational Environmental Satellite System and Defense Weather Satellite System to be canceled in 2010 and 2012 before any of their satellites could be launched.

The 2026 NOAA budget request includes an increase in funding for the next-generation geostationary satellite program, so it can be restructured to reuse spare parts from existing geostationary satellites. The budget also terminates contracts for ocean color, atmospheric composition and advanced lightning mapper instruments.

A busy season remains

The 2025 Atlantic hurricane season, which runs from June 1 to Nov. 30, is forecast to be above average, with six to 10 hurricanes. The most active part of the season runs from the middle of August to the middle of October, after the DMSP satellite data is set to be turned off.

Hurricane forecasters will continue to use all available tools, including satellite, radar, weather balloon and dropsonde data, to monitor the tropics and issue hurricane forecasts. But the loss of satellite data, along with other cuts to data, funding and staffing, could ultimately put more lives at risk.The Conversation

About the Author:

Chris Vagasky, Meteorologist and Research Program Manager, University of Wisconsin-Madison

This article is republished from The Conversation under a Creative Commons license. Read the original article.

 

Economics & Fundamentals Opinions
03 Jul

AI is advancing even faster than sci-fi visionaries like Neal Stephenson imagined

By Rizwan Virk, Arizona State University 

Every time I read about another advance in AI technology, I feel like another figment of science fiction moves closer to reality.

Lately, I’ve been noticing eerie parallels to Neal Stephenson’s 1995 novel “The Diamond Age: Or, A Young Lady’s Illustrated Primer.”

“The Diamond Age” depicted a post-cyberpunk sectarian future, in which society is fragmented into tribes, called phyles. In this future world, sophisticated nanotechnology is ubiquitous, and a new type of AI is introduced.

Though inspired by MIT nanotech pioneer Eric Drexler and Nobel Prize winner Richard Feynman, the advanced nanotechnology depicted in the novel still remains out of reach. However, the AI that’s portrayed, particularly a teaching device called the Young Lady’s Illustrated Primer, isn’t only right in front of us; it also raises serious issues about the role of AI in labor, learning and human behavior.

In Stephenson’s novel, the Primer looks like a hardcover book, but each of its “pages” is really a screen display that can show animations and text, and it responds to its user in real time via AI. The book also has an audio component, which voices the characters and narrates stories being told by the device.

It was originally created for the young daughter of an aristocrat, but it accidentally falls into the hands of a girl named Nell who’s living on the streets of a futuristic Shanghai. The Primer provides Nell personalized emotional, social and intellectual support during her journey to adulthood, serving alternatively as an AI companion, a storyteller, a teacher and a surrogate parent.

The AI is able to weave fairy tales that help a younger Nell cope with past traumas, such as her abusive home and life on the streets. It educates her on everything from math to cryptography to martial arts. In a techno-futuristic homage to George Bernard Shaw’s 1913 play “Pygmalion,” the Primer goes so far as to teach Nell the proper social etiquette to be able to blend into neo-Victorian society, one of the prominent tribes in Stephenson’s balkanized world.

No need for ‘ractors’

Three recent developments in AI – in video games, wearable technology and education – reveal that building something like the Primer should no longer be considered the purview of science fiction.

In May 2025, the hit video game “Fortnite” introduced an AI version of Darth Vader, who speaks with the voice of the late James Earl Jones.

While it was popular among fans of the game, the Screen Actors Guild lodged a labor complaint with Epic Games, the creator of “Fortnite.” Even though Epic had received permission from the late actor’s estate, the Screen Actors Guild pointed out that actors could have been hired to voice the character, and the company – in refusing to alert the union and negotiate terms – violated existing labor agreements.

In “The Diamond Age,” while the Primer uses AI to generate the fairy tales that train Nell, for the voices of these archetypal characters, Stephenson concocted a low-tech solution: The characters are played by a network of what he termed “ractors” – real actors working in a studio who are contracted to perform and interact in real time with users.

The Darth Vader “Fortnite” character shows that a Primer built today wouldn’t need to use actors at all. It could rely almost entirely on AI voice generation and have real-time conversations, showing that today’s technology already exceeds Stephenson’s normally far-sighted vision.

Recording and guiding in real time

Synthesizing James Earl Jones’ voice in “Fortnite” wasn’t the only recent AI development heralding the arrival of Primer-like technology.

I recently witnessed a demonstration of wearable AI that records all of the wearer’s conversations. Their words are then sent to a server so they can be analyzed by AI, providing both summaries and suggestions to the user about future behavior.

Several startups are making these “always on” AI wearables. In an April 29, 2025, essay titled “I Recorded Everything I Said for Three Months. AI Has Replaced My Memory,” Wall Street Journal technology columnist Joanna Stern describes the experience of using this technology. She concedes that the assistants created useful summaries of her conversations and meetings, along with helpful to-do lists. However, they also recalled “every dumb, private and cringeworthy thing that came out of my mouth.”

AI wearable devices that continuously record the conversations of their users have recently hit the market.

These devices also create privacy issues. The people whom the user interacts with don’t always know they are being recorded, even as their words are also sent to a server for the AI to process them. To Stern, the technology’s potential for mass surveillance becomes readily apparent, presenting a “slightly terrifying glimpse of the future.”

Relying on AI engines such as ChatGPT, Claude and Google’s Gemini, the wearables work only with words, not images. Behavioral suggestions occur only after the fact. However, a key function of the Primer – coaching users in real time in the middle of any situation or social interaction – is the next logical step as the technology advances.

Education or social engineering?

In “The Diamond Age,” the Primer doesn’t simply weave interactive fairy tales for Nell. It also assumes the responsibility of educating her on everything from her ABCs when younger to the intricacies of cryptography and politics as she gets older.

It’s no secret that AI tools, such as ChatGPT, are now being widely used by both teachers and students.

Several recent studies have shown that AI may be more effective than humans at teaching computer science. One survey found that 85% of students said ChatGPT was more effective than a human tutor. And at least one college, Morehouse College in Atlanta, is introducing an AI teaching assistant for professors.

There are certainly advantages to AI tutors: Tutoring and college tuition can be exorbitantly expensive, and the technology can offer better access to education to people of all income levels.

Pulling together these latest AI advances – interactive avatars, behavioral guides, tutors – it’s easy to envision how an AI device like the Young Lady’s Illustrated Primer could be created in the near future. A young person might have a personalized AI character that accompanies them at all times. It can teach them about the world and offer up suggestions for how to act in certain situations. The AI could be tailored to a child’s personality, concocting stories that include AI versions of their favorite TV and movie characters.

But “The Diamond Age” offers a warning, too.

Toward the end of the novel, a version of the Primer is handed out to hundreds of thousands of young Chinese girls who, like Nell, didn’t have access to education or mentors. This leads to the education of the masses. But it also opens the door to large-scale social engineering, creating an army of Primer-raised martial arts experts, whom the AI then directs to act on behalf of “Princess Nell,” Nell’s fairy tale name.

It’s easy to see how this sort of large-scale social engineering could be used to target certain ideologies, crush dissent or build loyalty to a particular regime. The AI’s behavior could also be subject to the whims of the companies or individuals that created it. A ubiquitous, always-on, friendly AI could become the ultimate monitoring and reporting device. Think of a kinder, gentler face for Big Brother that people have trusted since childhood.

While large-scale deployment of a Primer-like AI could certainly make young people smarter and more efficient, it could also hamper one of the most important parts of education: teaching people to think for themselves.The Conversation

About the Author:

Rizwan Virk, Faculty Associate, PhD Candidate in Human and Social Dimensions of Science and Technology, Arizona State University

This article is republished from The Conversation under a Creative Commons license. Read the original article.

Opinions Programming
03 Jul

The hidden cost of convenience: How your data pulls in hundreds of billions of dollars for app and social media companies

By Kassem Fawaz, University of Wisconsin-Madison and Jack West, University of Wisconsin-Madison 

You wake up in the morning and, first thing, you open your weather app. You close that pesky ad that opens first and check the forecast. You like your weather app, which shows hourly weather forecasts for your location. And the app is free!

But do you know why it’s free? Look at the app’s privacy settings. You help keep it free by allowing it to collect your information, including:

  • What devices you use and their IP and Media Access Control addresses.
  • Information you provide when signing up, such as your name, email address and home address.
  • App settings, such as whether you choose Celsius or Fahrenheit.
  • Your interactions with the app, including what content you view and what ads you click.
  • Inferences based on your interactions with the app.
  • Your location at a given time, including, depending on your settings, continuous tracking.
  • What websites or apps that you interact with after you use the weather app.
  • Information you give to ad vendors.
  • Information gleaned by analytics vendors that analyze and optimize the app.

This type of data collection is standard fare. The app company can use this to customize ads and content. The more customized and personalized an ad is, the more money it generates for the app owner. The owner might also sell your data to other companies.

Screenshot from an android phone with the default opt-in selection radio button filled in
Many apps, including the weather channel app, send you targeted advertising and sell your personal data by default.
Jack West, CC BY-ND

You might also check a social media account like Instagram. The subtle price that you pay is, again, your data. Many “free” mobile apps gather information about you as you interact with them.

As an associate professor of electrical and computer engineering and a doctoral student in computer science, we follow the ways software collects information about people. Your data allows companies to learn about your habits and exploit them.

It’s no secret that social media and mobile applications collect information about you. Meta’s business model depends on it. The company, which operates Facebook, Instagram and WhatsApp, is worth US$1.48 trillion. Just under 98% of its profits come from advertising, which leverages user data from more than 7 billion monthly users.

What your data is worth

Before mobile phones gained apps and social media became ubiquitous, companies conducted large-scale demographic surveys to assess how well a product performed and to get information about the best places to sell it. They used the information to create coarsely targeted ads that they placed on billboards, print ads and TV spots.

Mobile apps and social media platforms now let companies gather much more fine-grained information about people at a lower cost. Through apps and social media, people willingly trade personal information for convenience. In 2007 – a year after the introduction of targeted ads – Facebook made over $153 million, triple the previous year’s revenue. In the past 17 years, that number has increased by more than 1,000 times.

Five ways to leave your data

App and social media companies collect your data in many ways. Meta is a representative case. The company’s privacy policy highlights five ways it gathers your data:

First, it collects the profile information you fill in. Second, it collects the actions you take on its social media platforms. Third, it collects the people you follow and friend. Fourth, it keeps track of each phone, tablet and computer you use to access its platforms. And fifth, it collects information about how you interact with apps that corporate partners connect to its platforms. Many apps and social media platforms follow similar privacy practices.

Your data and activity

When you create an account on an app or social media platform, you provide the company that owns it with information like your age, birth date, identified sex, location and workplace. In the early years of Facebook, selling profile information to advertisers was that company’s main source of revenue. This information is valuable because it allows advertisers to target specific demographics like age, identified gender and location.

And once you start using an app or social media platform, the company behind it can collect data about how you use the app or social media. Social media keeps you engaged as you interact with other people’s posts by liking, commenting or sharing them. Meanwhile, the social media company gains information about what content you view and how you communicate with other people.

Advertisers can find out how much time you spent reading a Facebook post or that you spent a few more seconds on a particular TikTok video. This activity information tells advertisers about your interests. Modern algorithms can quickly pick up subtleties and automatically change the content to engage you in a sponsored post, a targeted advertisement or general content.

Your devices and applications

Companies can also note what devices, including mobile phones, tablets and computers, you use to access their apps and social media platforms. This shows advertisers your brand loyalty, how old your devices are and how much they’re worth.

Because mobile devices travel with you, they have access to information about where you’re going, what you’re doing and who you’re near. In a lawsuit against Kochava Inc., the Federal Trade Commission called out the company for selling customer geolocation data in August 2022, shortly after Roe v Wade was overruled. The company’s customers, including people who had abortions after the ruling was overturned, often didn’t know that data tracking their movements was being collected, according to the commission. The FTC alleged that the data could be used to identify households.

Kochava has denied the FTC’s allegations.

Information that apps can gain from your mobile devices includes anything you have given an app permission to have, such as your location, who you have in your contact list or photos in your gallery.

If you give an app permission to see where you are while the app is running, for instance, the platform can access your location anytime the app is running. Providing access to contacts may provide an app with the phone numbers, names and emails of all the people that you know.

Cross-application data collection

Companies can also gain information about what you do across different apps by acquiring information collected by other apps and platforms.

Android screenshot – white and green text on a black background
The settings on an Android phone show that Meta uses information it collects about you to target ads it shows you in its apps – and also in other apps and on other platforms – by default.
Jack West, CC BY-ND

This is common with social media companies. This allows companies to, for example, show you ads based on what you like or recently looked at on other apps. If you’ve searched for something on Amazon and then noticed an ad for it on Instagram, it’s probably because Amazon shared that information with Instagram.

This combined data collection has made targeted advertising so accurate that people have reported that they feel like their devices are listening to them.

Companies, including Google, Meta, X, TikTok and Snapchat, can build detailed user profiles based on collected information from all the apps and social media platforms you use. They use the profiles to show you ads and posts that match your interests to keep you engaged. They also sell the profile information to advertisers.

Meanwhile, researchers have found that Meta and Yandex, a Russian search engine, have overcome controls in mobile operating system software that ordinarily keep people’s web-browsing data anonymous. Each company puts code on its webpages that used local IPs to pass a person’s browsing history, which is supposed to remain private, to mobile apps installed on that person’s phone, de-anonymizing the data. Yandex has been conducting this tracking since 2017, while Meta began in September 2024, according to the researchers.

What you can do about it

If you use apps that collect your data in some way, including those that give you directions, track your workouts or help you contact someone, or if you use social media platforms, your privacy is at risk.

Aside from entirely abandoning modern technology, there are several steps you can take to limit access – at least in part – to your private information.

Read the privacy policy of each app or social media platform you use. Although privacy policy documents can be long, tedious and sometimes hard to read, they explain how social media platforms collect, process, store and share your data.

Check a policy by making sure it can answer three questions: what data does the app collect, how does it collect the data, and what is the data used for. If you can’t answer all three questions by reading the policy, or if any of the answers don’t sit well with you, consider skipping the app until there’s a change in its data practices.

Remove unnecessary permissions from mobile apps to limit the amount of information that applications can gather from you.

Be aware of the privacy settings that might be offered by the apps or social media platforms you use, including any setting that allows your personal data to affect your experience or shares information about you with other users or applications.

These privacy settings can give you some control. We recommend that you disable “off-app activity” and “personalization” settings. “Off-app activity” allows an app to record which other apps are installed on your phone and what you do on them. Personalization settings allow an app to use your data to tailor what it shows you, including advertisements.

Review and update these settings regularly because permissions sometimes change when apps or your phone update. App updates may also add new features that can collect your data. Phone updates may also give apps new ways to collect your data or add new ways to preserve your privacy.

Use private browser windows or reputable virtual private networks software, commonly referred to as VPNs, when using apps that connect to the internet and social media platforms. Private browsers don’t store any account information, which limits the information that can be collected. VPNs change the IP address of your machine so that apps and platforms can’t discover your location.

Finally, ask yourself whether you really need every app that’s on your phone. And when using social media, consider how much information you want to reveal about yourself in liking and commenting on posts, sharing updates about your life, revealing locations you visited and following celebrities you like.

This article is part of a series on data privacy that explores who collects your data, what and how they collect, who sells and buys your data, what they all do with it, and what you can do about it.The Conversation

Kassem Fawaz, Associate Professor of Electrical and Computer Engineering, University of Wisconsin-Madison and Jack West, PhD Student in Computer Science, University of Wisconsin-Madison

This article is republished from The Conversation under a Creative Commons license. Read the original article.

Opinions Programming
02 Jul

Copper: The Technical Breakout Hiding in Plain Sight

Source: John Newell (7/1/25) 

John Newell of John Newell & Associates reviews the copper market and shares some copper stocks he believes are worth keeping an eye on.

For years, copper has quietly built a case for being one of the most strategically important — and structurally underappreciated —  commodities in the global economy.

Today, that case is no longer just about long-term fundamentals.

Technically, copper may be on the verge of a historic breakout, with the gold-to-copper ratio flashing one of the clearest signals in decades.

The Coming Copper Supercycle

The world is entering a period of compounding copper demand across sectors that didn’t even exist a generation ago. Clean energy infrastructure, electric vehicles, artificial intelligence, and data center expansion are all rapidly growing copper consumers. By some estimates, copper demand could double by 2035, from ~25 million tonnes to nearly 50 Mt.

This surge is colliding with mounting supply constraints. Ore grades have declined ~40% since 1991, permitting timelines now average more than 15 years, and only a handful of major discoveries have been made in the last decade. Mine development delays, social license challenges, and geopolitical instability in key regions are adding even more friction.

According to the International Energy Agency, even in its most optimistic scenario, a copper supply deficit of at least 1.6 million tonnes will persist by 2035, and under more aggressive climate targets, this deficit could exceed 10 million tonnes annually. With energy transition goals looming, this shortfall threatens to delay or derail critical electrification projects worldwide.

Meanwhile, new demand centers are emerging. Both India and Vietnam are poised to become major copper consumers, while China continues to dominate refining capacity with a 45% global share. Supply, however, remains concentrated in jurisdictions such as Chile and the Democratic Republic of Congo, increasing geopolitical and logistical risk.

The Gold-to-Copper Ratio: A Hidden Signal

While most headlines focus on copper supply and demand, the gold-to-copper ratio may offer the most striking indicator of what’s coming next.

Historically, this ratio oscillates around a long-term mean, but today, it’s signaling copper is historically cheap relative to gold.

  • At $3,300 gold, the ratio currently implies copper is undervalued at ~$5.00 per lb historically
  • At $3,300 gold, the ratio implies copper should be trading at approximately $8.00/lb to revert to the mean
  • A return to the lower bound of historical undervaluation could imply copper over $15/lb

Technically, the ratio has reached levels not seen since the early 2000s, just before copper launched into a multi-year bull market

This isn’t just a valuation story, it’s a sentiment shift. When gold leads, copper often follows. And gold’s 2024 breakout may be the prelude to a similar move in copper.

Fractal Patterns and Price Projection

Copper’s price chart is showing a clear fractal pattern resembling its 2003–2007 breakout period. Key technical levels have already been tested and held, and copper appears to be forming a bullish base with higher lows.

The breakout above $5.00/lb could confirm a long-term trend reversal.

Using Fibonacci extensions and historical symmetry:

  • A 2x move from the current base projects copper to ~$8.00–$9.00/lb
  • Longer-term targets range up to $12.00–$15.00/lb, particularly if inflation and energy transition tailwinds persist

Fundamental Tailwinds Align

Beyond charts and ratios, the copper bull thesis is grounded in urgent global realities:

Electrification & Renewables: EVs use 3–4x more copper than internal combustion engines. Offshore wind, solar farms, and smart grid infrastructure require unprecedented copper input.

AI and Data Centers: AI infrastructure and high-powered computing require heavy-duty copper wiring and cooling systems. This sector alone could consume 1–2% of global copper demand by 2030.

Falling Ore Grades: As copper grades decline globally, more energy and capital are needed to produce each tonne, raising costs and limiting supply elasticity.

Lack of Discoveries: less than 20 new copper deposits have been discovered in the last decade, compared to over 200 in the prior 23 years.

Capital Intensity and Timelines: New mine development now averages 17+ years, making it nearly impossible to respond quickly to demand shocks.

Recycling Limitations: While helpful, recycling cannot offset primary demand growth in the next two decades.

Strategic Implications for Investors

For investors, the opportunity lies in positioning before the re-rate. Major mining companies are already investing in juniors, particularly in stable jurisdictions like British Columbia, Arizona, Ontario, and Australia.

As copper breaks out technically, capital will chase leverage, and junior explorers offer the highest torque to rising copper prices.

This isn’t about chasing hype. It’s about reading the signals that the market is quietly flashing:

  • Historic undervaluation versus gold
  • Fractal price patterns signaling acceleration
  • Structural supply deficits meeting exponential demand
  • Geopolitical risks realigning the global copper map

New Generation Copper Developers Are Stepping Up

Amid mounting supply pressures and accelerating global demand, a new wave of copper exploration and development companies is emerging to meet the challenge. These juniors are advancing well-positioned projects with strategic advantages, from shorter development timelines to favorable jurisdictions, that could help close the widening copper gap.

As majors increasingly turn to partnerships and acquisitions to secure future supply, these agile explorers and developers are becoming vital players in the next chapter of copper’s story.

McEwen Mining Inc. (MUX:TSX; MUX:NYSE ) is advancing the massive Los Azules copper project in Argentina, one of the largest undeveloped copper projects in the world.

With over 10 billion pounds of contained copper, Los Azules represents a cornerstone asset with tremendous long-term leverage to rising copper prices.

Recent technical work and a defined development plan are moving the project toward pre-feasibility.

The company has also announced progress on infrastructure, permitting, and funding strategy, positioning itself as a potential takeover target or future producer as the copper cycle matures.

NexMetals Mining Corp. (NEXM:TSX.V) is quietly drilling into one of Botswana’s past-producing copper-nickel mines, and the story is picking up speed.

The Selkirk Mine already has a known copper-nickel-PGE footprint, and the company has completed 2,050 meters of new drilling with assays expected shortly.

A second drill rig is now turning, and NexMetals is also resampling historical holes and running metallurgical tests to define recovery parameters.

All this work is feeding into an updated mineral resource estimate, as the company positions Selkirk for a potential copper-Ni-PGE revival at a time when global supply remains tight.

It’s early days, but with the fundamentals behind copper and the right rocks in the right address, this is a name to keep an eye on.

Metallic Minerals Corp. (MMG:TSX.V; MMNGF:OTCQB) is shaping up as a serious copper-silver-gold exploration story, backed by some of the smartest money in the business.

With Newmont (formerly Newcrest) holding a 9.5% stake and Eric Sprott at 12.5%, the company’s flagship La Plata Project in southwest Colorado is drawing comparisons to world-class porphyry systems like Cadia.

The 2023 resource at the Allard deposit shows 1.2 billion lbs of copper and 17.6 million oz of silver, with the next update expected to include gold and PGEs.

What stands out is the scale of the alteration system, over 25 km² with multiple untested targets, including Ridgeway-style zones that could host much higher grades.

With permits in place and Newmont technical input in the field, 2025 could be a breakout year.

Final Thoughts

Copper is no longer just a metal. It’s the backbone of electrification, data, mobility, and decarbonization. The market is beginning to wake up to this. But the technical charts suggest the real move hasn’t even started.

For investors who understand both the fundamental and technical case, copper could represent the most asymmetric opportunity of the next decade.

 

Important Disclosures:

  1. Metallic Minerals Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.
  2. John Newell: I, or members of my immediate household or family, own securities of: [None]. My company has a financial relationship with [None]. My company has purchased stocks mentioned in this article for my management clients: [None]. I determined which companies would be included in this article based on my research and understanding of the sector.
  3. Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found  below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
  4.  This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

For additional disclosures, please click here.

John Newell Disclaimer

As always it is important to note that investing in precious metals like silver carries risks, and market conditions can change violently with shock and awe tactics, that we have seen over the past 20 years. Before making any investment decisions, it’s advisable consult with a financial advisor if needed. Also the practice of conducting thorough research and to consider your investment goals and risk tolerance.

Metals Opinions
02 Jul

Why energy markets fluctuate during an international crisis

By Skip York, Rice University 

Global energy markets, such as those for oil, gas and coal, tend to be sensitive to a wide range of world events – especially when there is some sort of crisis. Having worked in the energy industry for over 30 years, I’ve seen how war, political instability, pandemics and economic sanctions can significantly disrupt energy markets and impede them from functioning efficiently.

A look at the basics

First, consider the economic fundamentals of supply and demand. The risk most people imagine in the current crisis between Israel, the U.S. and Iran is that Iran, which is itself a major oil-producing country, might suddenly expand the conflict by threatening the ability of neighboring countries to supply oil to the world.

Oil wells, refineries, pipelines and shipping lanes are the backbone of energy markets. They can be vulnerable during a crisis: Whether there is deliberate sabotage or collateral damage from military action, energy infrastructure often takes a hit.

For instance, after Saddam Hussein invaded Kuwait in August 1990, Iraqi forces placed explosive charges on Kuwaiti oil wells and began detonating them in January 1991. It took months for all the resulting fires to be put out, and millions of barrels of oil and hundreds of millions of cubic meters of natural gas were released into the environment – rather than being sold and used productively somewhere around the world.

Scenes of Kuwaiti life during and after the Gulf War of 1990 and 1991 include images of oil wells burning as a result of Iraqi sabotage.

Logistics can mess markets up too. For instance, closing critical maritime routes like the Strait of Hormuz or the Suez Canal can cause transportation delays.

Whether supply is lost from decreased production or blocked transportation routes, the effect is less oil available to the market, which not only causes prices to rise in general, but it also makes them more volatile – tending to change more frequently and by larger amounts.

On the flip side, demand can also shift radically. During the 1990-1991 Gulf War, demand rose: U.S. forces alone used more than 2 billion gallons of fuel, according to an Army analysis. By contrast, during the COVID-19 pandemic, industries shut down, travel came to a halt and energy demand plummeted.

When crisis looms, countries and companies often start stockpiling oil and other raw materials rather than buying only what they need right now. That creates even more imbalance, resulting in price volatility that leaves everyone, both consumers and producers, with a headache.

Regional considerations

In addition to uncertainties around market fundamentals, it’s important to note that many of the world’s energy reserves are located in regions that have not been models of stability. In the Middle East, wars, revolutions and diplomatic disputes there can raise concerns about supply, demand or both.

Those worries send shock waves through the world’s energy markets. It’s like walking on a tightrope: One wrong move – or even the perception of a misstep – can make the market wobble.

Governments’ economic sanctions, such as those restricting trade with Iran, Russia or Venezuela, can distort production and investment decisions and disrupt trade flows. Sometimes markets react even before sanctions are officially in place: Just the rumor of a possible embargo can cause prices to spike as buyers scramble to secure resources.

In 2008, for example, India and Vietnam imposed rice export bans, and rumors of additional restrictions fueled panic buying and nearly doubled prices in months.

In those scrambles, the role of investor speculation enters the picture. Energy commodities, such as oil and gas, aren’t just physical resources; they’re also traded as financial assets like stocks and bonds. During uncertain times, traders don’t wait around for actual changes in supply and demand. They react to news and forecasts, sometimes in large groups, which can shift the market just with the actions that result from their fears or hopes.

The events on June 22, 2025, are a good example of how this dynamic works. The Iranian parliament passed a resolution authorizing the country’s Supreme Council to close the Strait of Hormuz. Immediately, oil prices started rising, even though the strait was still open, with oil tankers steaming through unimpeded.

The next day, Iran launched a missile strike on Qatar, but coordinated in advance with Qatari officials to minimize damage and casualties. Traders and analysts perceived the action as a de-escalatory signal and anticipated that the Supreme Council was not going to close the strait. So prices started to fall.

It was a price roller coaster, fueled by speculation rather than reality. And computer algorithms and artificial intelligence, which assist in making automated trades, only add to the chaos of price changes.

Shipping activity in the Persian Gulf and the Strait of Hormuz decreased after Israel’s attacks on Iranian nuclear facilities.

A broader look

International crises can also cause wider changes in countries’ economies – or the global economy as a whole – which in turn affect the energy market.

If a crisis sparks a recession, rising inflation or high unemployment, those tend to cause people and businesses to use less energy. When the underlying situation stabilizes, recovery efforts can mean energy consumption resumes. But it’s like a pendulum swinging back and forth, with energy markets caught in the middle.

Renewable energy is not immune to international crisis and chaos. The supply is less affected by market forces: The amount of available sunlight and wind isn’t tied to geopolitical relations. But overall economic conditions still affect demand, and a crisis can disrupt the supply chains for the equipment needed to harness renewable energy, like solar panels and wind turbines.

It’s no wonder energy markets are so jittery during international crises. A mix of imbalances between supply and demand, vulnerable infrastructure, political tensions, corporate worries and speculative trading all weave together into a complex web of volatility.

For policymakers, investors and consumers, understanding these dynamics is key to navigating the ups and downs of energy markets in a crisis-prone world. The solutions aren’t simple, but being informed is the first step toward stability.The Conversation

About the Author:

Skip York, Nonresident Fellow in Energy and Global Oil, Baker Institute for Public Policy, Rice University

This article is republished from The Conversation under a Creative Commons license. Read the original article.

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