Back in late December through late January, I did something that seemed absurd at the time. I begged people to take profits. The market was soaring too fast, too high.
If you’re a responsible steward of capital, you have to take money off the table when the market is hitting irrational levels.
Today, we’re in a totally different place.
I’m adding 5 companies to my GP10X service.
So when I say it’s a great time to be putting capital to work in gold stocks, I’m not just talking my book. I’m staking my reputation and my track record on it.
I don’t typically add this many companies all at once either. The last time I added this many stocks to the portfolio was in December 2023.
That should tell you exactly how I feel about this market. And I’ve been doing this for over 20 years. This kind of market is rare. It’s fleeting. It won’t be around forever. It’s a time to be greedy – because others are certainly fearful.
We’re in a kind of upside down market right now, where almost every productive gold miner and royalty firm is posting blowout, record-setting financials.
The market NEVER caught up with gold’s price at $4k gold.
Many of the world’s best gold projects were still cautiously and conservatively projecting $2,500-$3,000 oz gold through 2025. That means they all blew away expectations for the year.
And at the same time, we’re seeing these companies get crushed. The market is overreacting.
We’re seeing values that we haven’t seen in this market since early 2025 or before…
Remember, there’s really only one fundamental metric that moves stock prices – and that’s cash flow per share.
We’re seeing record cash flows in the sector.
This correction will not last forever. And when the bull market resumes, the whole market is going to notice the massive coiled spring in gold stocks. They’ll see the incredible growth in cash flow. They’ll see the production growth.
So while you’re reading negative news about Iran, the oil markets, the stock market, jobs, etc. – just keep in mind: nothing fundamentally has changed about gold’s role.
When we see any kind of resumption of normalcy in the markets with regard to Iran, oil, the stock market or jobs – gold’s role will become clear.
People will flood back into the deep value in gold stocks.
But for now? We have a window to buy before the value is widely known.
I can’t say that we’re definitely bottoming out right now. What I can say: these values are so fantastic, there’s no sense in waiting for them to get better. Historically, the kind of valuations I’m seeing pan out very well.
I’m giving you permission: you don’t need to second guess yourself.
It’s time to get bullish again.
Best,
Garrett Goggin, CFA, CMT
Lead Analyst and Founder, Golden Portfolio