Gold Miners are ripping in 2025 as Gold futures continue to print fresh all-time highs.

Here's how the year has played out so far:

• The S&P 500 is down 8%
• Bitcoin is down 9%
• Bonds are flat
• Silver is up 12%
• Gold is up 22%
• And Gold Miners are up 47%

There has been a tremendous amount of dispersion in the returns.

Despite precious metals' clear leadership role this year, the short sellers have piled into the Gold miners.

Amid historic market volatility, we're looking for uncorrelated trades.

Whether that's Crude Oil, Lumber, or Orange Juice.

Trading commodities doesn't just offer lucrative risk versus reward opportunities, but it also has a very low correlation to other asset classes.

For example, Orange Juice was in a steady uptrend from 2020 until the end of 2024. 

It didn't care about the bear market in 2022. 

And it certainly doesn't care about the bear market in 2025.

This was the best week for the juice since 1998, and we think it has the potential to rally more for the foreseeable future.

The publicly traded markets around the world are experiencing some of their most volatile periods ever.

Since its February peak, the S&P 500 has declined by over 20%. 

Meanwhile, Gold has shown a tremendous amount of relative strength. It's only down 6% from its all-time high...

This isn't anything new, though. We've been discussing this outperformance for years, and we don't think it will change anytime soon.

What a week for the global asset markets.

On Wednesday, the United States announced new tariffs against dozens of countries. This set off a wave of selling pressure, which appears to have no end in sight.

Silver is down nearly 15% this week...

Copper was down nearly 15% this week...

Lumber was down 13% this week...

The energy complex was down nearly 10% across the board this week...

Even Gold fell 2% this week.

It was quick. It was nasty. And it's not over.

For the bears out there, it's hard to find a better setup than Crude Oil futures.

Crude Oil futures have broken a confluence...

The Gold and Silver Miners have been on fire.

Today is the final trading session of Q1 2025, and these stocks are on pace for one of the best quarters ever in absolute terms. 

In relative terms, this has been the best quarter ever in many cases.

These returns have been historic, yet nobody seems to care.

We believe this strength will foster more growth in the future, and here's why.

Copper futures are breaking out to new all-time highs. Is this a signal for the whole Base Metals complex?

We think so and here's why.

When Copper leads, the rest of the base metals often follow. 

We've seen this happen in numerous cycles. The last occurrence was in 2020.

This trade is even better when Gold is the first one out of the gate, which is the case this cycle. We discussed it a few weeks ago - be sure to check out that post if you haven't already.

The evidence for a base metals rally has been stacking up recently. Aluminum is shaping up nicely, and we think it could be one of the next to go.

From there, we expect Steel, Nickel, Tin, Zinc, and all of the rest to follow.

This index holds an equally-weighted basket...

In case you missed it, we're amid a raging precious metals bull market.

Gold miners are playing catch-up, and they keep making new highs.

Silver is on the cusp of resolving a historical base that dates back to 1980 when the Hunt Brothers tried to corner the market.

All the while, the yellow metal is soaring versus every fiat currency in the universe.

Investors in the United States are panicking because their tech stocks are sucking.

Their irresponsibly large positions in Microsoft and Nvidia have come around to bite them in the rear.

Which investors have been sheltered from this pain? The ones who own Energy stocks! 

These shareholders have, for the most part, been treated poorly over the last 15 years. 

However, that wasn't the case in the post-COVID bull market. It also hasn't been the case so far this year.

As you can see, the Energy Sector SPDR $XLE is up over 8% this year. It's the best-performing sector.

Conversely, Technology $XLK and Consumer Discretionary $XLY have been significant laggards. They're the only sectors trailing the S&P 500.

We think this relative strength from energy can persist. Here's why 👇

The NYSE Natural Gas Index $XNG and the NYSE Oil & Gas Index $XOI are both in the process of resolving multi-decade basing patterns.

Structural trend reversals can be messy, but the path of...

Silver is squeezing higher to new multi-month highs and looks poised to climb higher to fresh multi-decade highs shortly.

This is happening on the heels of this precious metals bull market recently turning 1 year old.

Gold futures are also trading above 3,000 dollars for the first time ever.

All of this combined has fueled the animal spirits in the mining industry.

Copper futures have so many tailwinds working for it right now. We think it's ready to breakout to new all-time highs.

We've talked about the strong positive correlation it has with Chinese stocks. This remains the case. 

In addition, base and industrial metals have been ripping. Just look at the setup in Aluminum futures. 

We think it would make sense for Dr. Copper to lead its peers higher. This has already been playing out in precious metals.

The shiny yellow rock has been leading its peers higher, and now Silver futures are a stone's throw away from multi-decade highs. 

Gold futures hit 3,000 for the first time to make things even sweeter. Surpassing...

While U.S. equity investors are panicking, the Gold Bugs are riding powerful uptrends. It's a fantastic time to own shiny rocks.

Yesterday, we discussed the short interest in Silver hitting a record high. We think it's time for Gold's crazy cousin to shine.

In addition to that, we covered a variety of subjects in today's video, including: 

• The largest 4-week inflow into Gold on record
• Wild swings in the currency markets
• International stock markets
• Shiny rocks > stocks
• Seasonal sweet spot for Gold & Silver miners
• And what we're buying

We hope everyone enjoyed this precious metals bull market's first-anniversary last week. 

We certainly did! Cheers to many more years to come. 🥂

Now, what's next?

It's time for Gold's crazy cousin to shine, and here's why.