Gerardo Del Real,
Editor
Sept. 9, 2026
Gold is back firmly above $4,400 per ounce. I told you it would reclaim that level in very short order.
Silver is sitting at $67 per ounce. I’m not surprised we came back quickly in the precious metals space despite the recent pullback. I told you that was all noise.
The real action, however, has been in the bond market.
“I am the house now. I have pretty good insight into what the Japanese, what the Bank of Japan is going to do. And you can bet against me if you want.”
Those are the Treasury Secretary’s words on the yen intervention.
Last week, I explained that rising global rates present Scott Bessent with a conundrum and I wondered if he wouldn’t get more aggressive intervening in the bond market.
We have our answer.
The 10-year here in the U.S. is stubbornly sitting at 4.85% as the odds for a rate hike — which seemingly change every other day — are now above 60%. We’ll see if that holds.
The dollar index (DXY) is below the 99 level, sitting at 98.78.
And the news in the copper space is brand-new record highs.
I’ve explained for many, many months — and frankly, many years — that the structural deficits in the copper space were not going away anytime soon and that this was going to be a trend that continued for many years.
That is now firmly in place with copper sitting at record highs today and the spot price at $6.68 per pound.
We’re just getting started. You ain’t seen nothing yet in the copper space, folks. Make sure that you have exposure there.
Uranium has been boring. Not as boring anymore, sitting right at the $90/lb level on the spot price, with the long-term contracting price flirting with the $100 level.
Again, much like copper, the structural deficits there will continue to show themselves.
That is extremely bullish for us and for our Junior Resource Speculator portfolio with the metals exposure that we have in the uranium space.
Look, the bottom line is September is here. The summer doldrums are behind us.
Conference season is kicking up with the Denver Gold Forum and Beaver Creek coming up. I will be at Beaver Creek and am looking forward to seeing some of you out there.
Companies are drilling. Companies are working. Companies are putting out news that bodes really well for the next several months.
It also presents the perfect backdrop for a new pick to the Junior Resource Speculator portfolio. Expect that in the next several days.
This morning, subscribers of Private Placement Intel were given access to the latest deal Nick Hodge and I have vetted. It’s a gold-copper explorer in a tier-1 jurisdiction with multiple projects about to see drilling.
The market cap is tiny, and the management team is strong. It’s the kind of early-stage deal that can provide triple-digit returns in short order.
Let's get it,
Gerardo Del Real
Editor, Bizarro World