Today on Natural Resource Stocks, Andy Millette sits down with macro investor and precious-metals strategist Tavi Costa to unpack the violent pullback in gold and silver, what central-bank flows might be signaling, and where the real upside may be over the next 6–12 months.
Tavi explains why he still sees a long-term bull market in gold, shares his bold call for silver to break $50 “with authority,” and highlights copper’s resilience as a signal that “smart money” is positioning ahead of the crowd. The discussion also explores how miners can hedge energy exposure, manage risk, and prepare for the next leg higher in the commodity supercycle.
Highlights
Are central banks — possibly even the US — accumulating gold?
Why gold’s long-term trend remains intact despite pullbacks
Gold/silver ratio above 80: why that argues against a peak
Silver’s $50 target within 6–12 months
Copper’s “smart money” signal and rotation clues
Hedging energy exposure for miners and investors
