Few things in life are more fun than placing a recklessly large bet on an out-of-favor investment thesis and seeing the bet pay off bigly.
Consider the following: The broad stock market, represented by the S&P 500, is currently at an all-time high. But year-to-date, gold mining stocks, represented by the GDX large-cap miner ETF, have left “the market” in the dust.
Congratulations, gold bugs and commodities bulls. Events are proving you right.
There’s a lot more to say, but the past month’s headlines tell the tale perfectly:
Macro/Sector News
Gold & Silver Are Starting to Break Out
Mining's Once in a 50 Year Opportunity to Outshine
Harvard endowment fund takes $218M bet on gold and bitcoin combined in first-ever positions
India may remove limits on gold ETFs in pension investments, supercharging investment demand
3 Reasons Infrastructure is Hot as Silver & Copper Heat Up
Why gold may soon surge to $4,400
For First Time in Nearly 30 Years, Foreign Central Banks Hold More Gold Than U.S. Treasuries
Fed rate cuts will stoke inflation, so invest in alternative and non-U.S. assets – JP Morgan’s Kelly
Trump can bully the Fed but he can’t bully the bond markets
The Mar-a-Lago Accord Confirmed: Miran Brings Trump's Reset To The Fed
Saudi Central Bank buys $40 million in SLV and silver miners
RBC Makes 5 Crucial Observations on Gold Miners
US announces US$1 billion to secure critical mineral supply
The (spectacular) silver market
Barrick earnings beat on strong gold, copper output, higher prices
A Comprehensive Bullish Case For Gold Mining Stocks
RBC: Five Crucial Observations on Gold Miners