Brien Lundin & Jeff Christian - Silver’s $60+ Surge & The “Debasement Trade” Playbook

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Dec 13, 2025

Brien Lundin, Editor of the Gold Newsletter, and Jeff Christian, Managing Partner at CPM Group, dive into the dynamics of precious metals. They discuss silver's surge above $60, driven by investor demand rather than fabrication needs, and how mining stocks are leading the charge ahead of gold. Lundin shares insights from his year-end report, emphasizing the 'debasement trade' that’s driving commodity interest. Christian highlights the risks of momentum trading and projects that geopolitical tensions will continue to support precious metals into 2026.

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INSIGHT

Silver And Miners Leading The Rally

Silver and mining stocks typically lead gold during a bull market and are leading now.
Gold remains the engine, but silver/miners show higher torque and early rally potential.

ADVICE

Position Before The Early-Year Rally

Position in metals and miners before the early-year rally to capture strong seasonal gains.
Buying now can yield 10–20% in juniors versus waiting for broad new-year inflows.

INSIGHT

The 'Debasement Trade' Draws Generalist Money

Wall Street has labeled the move into commodities the "debasement trade," attracting generalist capital.
That broad commodity demand supports metals beyond gold, lifting many resource sectors.

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This Weekend Show is all about precious metals momentum, and the why behind it. Brien Lundin argues we’re watching the classic bull-market baton pass (silver + miners leading gold), while Jeff Christian breaks down what the data actually shows behind silver’s explosive run above $60, and why volatility could cut both ways in the weeks ahead.

Segment 1 & 2 - Brien Lundin, editor of Gold Newsletter and host of the New Orleans Investment Conference, joins the KE Report Weekend Show to break down his massive year-end issue - covering macro trends, metals and market outlooks, dozens of junior mining updates, and five new stock recommendations - while explaining why he sees silver and mining equities leading gold into a potentially strong seasonal early-2026 rally driven by the broader “debasement trade” and rising liquidity across commodities.
Click here to learn more about the Gold Newsletter.

Segment 3 & 4 - Jeff Christian, Managing Partner at CPM Group, wraps up this Weekend Show to break down silver’s explosive move above $60 - arguing it’s being driven primarily by investor demand and momentum trading (not fabrication demand or a true short squeeze) - while also outlining why gold has lagged, how geopolitical/economic risks could keep precious metals supported into Q1 2026, and what shifting narratives around crypto-linked gold products, central bank activity, and the need for new mining supply could mean for metals and mining equities.
Click here to visit the CPM Group website to learn more about the firm

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Investment disclaimer:

This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests may own shares in companies mentioned.