Know Your Risk Podcast Surging Precious Metals
Dec 22, 2025
Zach and Chase dive into the surge of precious metals, with gold and platinum hitting new highs. They explore how capital cycle investing and supply constraints push prices up sharply. Discussion shifts to valuing gold mining companies and identifying potentially explosive junior developers. The duo debates the role of central banks in sustaining demand and how position sizing can manage risk. They highlight long-term strategies versus tactical trading, and analyze current market conditions for savvy investors.
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Explaining The Metals Surge
- Precious metals and miners can spike sharply because share counts and market participation are much lower than 15 years ago.
- Rapid moves may cause big pullbacks, but market structure explains outsized rallies beyond pure euphoria.
Capital Cycle Drives Commodity Rerates
- Capital-cycle dynamics force prices higher when underinvestment limits supply response.
- Miners let you infer fair value from metal prices, even if metal fair value is uncertain.
Value Miners Using A Conservative Gold Bogey
- Use a conservative gold price bogey (e.g., $3,000–$3,500/oz) when valuing miners today.
- That framework shows many miners remain cheap even after recent rallies.