VRIC's Darrell Thomas asked me about the macro forces driving this metals bull market. I explain my thesis about gold consolidating around $4,000 looking more like a staging ground than a blow-off top. We also dig into silver’s supply–demand puzzle and why copper remains my top pick into 2026, among other topics.

Timestamps:

00:00 –  Is gold’s correction over or just consolidating at $4,000?
03:21 – Tailwinds, headwinds & the role of central bank gold buying
10:21 – Supreme Court, tariffs, Fed independence & market volatility
14:00 – Sponsor message: Vizsla Copper overview
14:30 – Silver’s supply–demand squeeze and by-product dynamics
21:26 – “There is no such thing as a pure silver mine” & Mexico risk
25:23 – Why copper is Lobo’s top pick for 2025–2026
29:14 – Critical minerals lists, policy support & what actually changes
35:28 – Rare earths, lithium and why critical minerals can be a minefield
40:26 – Unloved commodities: oil, uranium, nickel, lithium