Gerardo Del Real,
Editor
March 4, 2026
I was going to write to you about PDAC but instead I’m going to write to you what I said yesterday to subscribers of Junior Resource Speculator. Because at the end of the day, the reason you are likely reading this is to make money.
And the next few days, subscribers of both Junior Resource Monthly and Junior Resource Speculator will each get a new pick. One that is so far off anyone’s radar (because it just started trading) and another past-producing gold company with a critical metals kicker and a tiny market cap.
Subscribers should keep an eye on their inbox the next week or so. If you’re not a subscriber, I would suggest getting that done over the next few days as I suspect both companies will be triple-digit winners in very short order.
Here’s what I told subscribers yesterday:
Spoiler alert: Keep buying the dips. They are temporary and we are in a raging bull market.
Obviously, all eyes are on Iran as metals take a breather.
Gold is down 4% to $5,110. Silver is down 7% to the $83 level. We have platinum down 10%, palladium down 6%, copper down 2% to the $5.88 level — and despite all of that, we are pretty much where we were just five days ago.
I think context and perspective are important. The equities are obviously getting hit today on the lower metals prices.
I could give you the narrative and the speculation and tell you it’s margin calls — which I’m sure there’s some of that in there. It’s nerves — which I’m sure there’s some of that in there as well.
Yet, the bottom line is that anytime there’s conflict on the scale of what we’re seeing now with everything going on in the Middle East — in what I deem a completely unnecessary war for the United States that’s only going to get us further into debt — it’s important to step back and look at the forest, not the tree.
And the forest is increased debt levels and increased geopolitical uncertainty. There are sure to be more black swan events that, by their very nature, we can’t outline or pinpoint at the moment.
But again, metals prices are pretty much where they were about a week ago where we were happy to have gold back above $5,000 and silver north of $80. The bottom line is that both metals are still very much in a powerful bull market.
Bond yields are climbing. The US Dollar Index (DXY) is on the rise, currently just shy of the 100 level.
I told you a few weeks ago that I thought the dollar catching a bid was a flight to capital as a preview to a major conflict that has now, unfortunately, broken out. The overall indices are taking a bit of a hit… and we’ll soon see where all of this shakes out.
The one space that’s really worth watching, of course, is the energy space, where, just today, oil is up some 8% and up roughly 17% over the last couple of weeks.
Obviously, with inflation coming in hot this past week — and with oil now up some 17% over the past two weeks — that doesn’t bode well for inflation over the next quarter or two but it does bode well for the portfolio.
Use the temporary pullbacks to your advantage.
Let’s get it!
Gerardo Del Real
Editor, Bizarro World