Coffeebar Quip
On Sunday morning, I walked into Coffeebar Menlo Park (home of the $9 to-go coffee), Mishka in hand. I saw that my local precious metals dealer was at his usual place, as he always is on Sunday morning. I walked over to him and congratulated him on a wonderful 2025, and he said, “It’s been good for me, and it’s been great for my clients. But.........what’s going to happen next?”
He isn’t the first metals dealer who expressed this sentiment to me. It’s sort of like if you were a person who predicted a terrorist attack on the twin towers for years, and after it finally happened in 2001, you could pat yourself on the back for being correct in your prediction. But - - there’s more to life than just nailing a prediction, right? What does it really mean? What’s next?
These kinds of questions should be on your mind, as precious metals keep vaulting to lifetime highs day after day. Gold finally broke out from yet another base and, as of this composition, is up $70.
Silver is at a lifetime high too, and ever since Liberation Day, there’s hardly been a downtick in sight. This chart is just amazing.
I think my assertion that my Buy Palladium idea was the Trade of the Year is easily defensible. The ratio charts in SlopeCharts were almost entirely to credit for this insight.
In contrast to all of the above, bonds (by way of TLT below) continue to slip, which I appreciate since I am long June puts and short TLT itself. It isn’t as exciting as precious metals, but I think its movement is every bit as meaningful and important.
