If it wasn’t clear 6-12 months ago, it’s obvious now: we’re in the middle of a generational or maybe once in a lifetime bull market in precious metals.
Silver is now soaring towards $90/oz after jumping more than 170% in 2025.
Gold is now also at all-time highs, looking like $5k/oz is within reach after jumping 70% in 2025:
It’s exciting but honestly?
It’s nothing compared to what we’ll see in select gold and silver stocks.
Two big reasons why gold and silver stocks are still poised for huge gains:
1) We haven’t yet entered Q4 2025 earnings season for companies in production. There’s a lot of coiled springs out there, and basically every miner and royalty firm I’m looking at is going to report record production, cash flows, and profits.
2) Nobody has factored in $4k gold and $70 silver, let alone $4,600 gold and $85 silver. For various reasons, analysts and investors are skittish at this point and are satisfied to assume much lower gold prices.
I’m not saying we won’t see a broad correction in gold prices… but when EVERYONE is using $3k gold as a valuation benchmark, it means that everyone is undervaluing the stocks.
The biggest ongoing opportunity, however, is in pre-production miners. These companies are pre-revenue… meaning they have very little visibility to analysts, let alone the AI trading algorithms that trade most of the money on Wall Street these days.
The ideal time to own miners, as I’ve said many times, is before they mine an ounce – and before they report their first cash flows.
Then, when they do go revenue-positive, it’s like someone turned on the lights, and the whole market can see their business operations in high definition.
That’s why I’ve been banging the table for pre-production miners. They’re undervalued, plain and simple.
That won’t last.
Last week I released a special interview with my colleague Porter Stansberry to talk about these opportunities to buy deep value in the gold market.
While everyone is excited about the price of the metals… there’s a lot more to be excited about in the stocks. Don’t miss this opportunity to put money to work before the market catches up…
To recap: over the next 1-2 months, we’re going to see every productive miner and royalty announce record earnings. We will also see the investment public slowly wake up to $4k+ gold and $70+ silver.
It’s going to be fantastic.
Best,
Garrett Goggin, CFA, CMT
Lead Analyst and Founder, Golden Portfolio