Money of Mine Smart Money is Buying-the-Dip in Copper and Gold
Oct 31, 2025
Dave Franklyn, a portfolio manager at the Argonaut Natural Resources Fund, discusses key macro trends in commodities. He explains the urgency created by the recent US government nuclear deal and dives into the volatility of gold, driven by ETF flows and central bank activities. Dave also highlights bullish trends in copper, considering demand and supply risks, while assessing various companies' strategies, from Develop's ramp-up potential to Boss Energy's challenges. Listeners gain valuable insights and investor tips amidst this lively conversation.
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US Nuclear Push Adds Urgency
- The US nuclear deal signals urgency: government backing can convert long lead-time reactor talk into real demand.
- Dave Franklyn says this urgency will improve uranium pricing and developer economics.
Gold Rally Needs A Breather
- Gold's tailwinds — weaker dollar, geopolitical risk and lower rates — remain intact despite recent volatility.
- Rapid ETF inflows created momentum-driven equity rallies that needed a consolidation, says Dave Franklyn.
Trim Into Strength, Buy On Weakness
- Take profits when momentum pushes valuation above your assessment and re-enter on consolidation.
- Dave Franklyn says the fund rotates positions rather than simply holding through overpriced momentum moves.