Editor's note: Folks are missing out on a bull market in a key corner of the market. And for investors who spot this opening now, several key tailwinds will soon bring in even bigger gains. In this piece, our friend Nick Hodge explains where he's looking for the biggest opportunities of the next bull market – and reveals why you may need to change your thinking to take advantage of it.
I don't try to predict "black swan" events.
I don't try to time war or disease or whether someone in Taiwan sneezes.
I pay attention to what's actually happening in the markets – what's real, what's moving, and what's being ignored. That's how I manage risk and identify opportunities early.
Right now, the opportunity is in commodities...
It's not because of hype or the latest headlines. It's because of years of structural neglect, underinvestment, and shortsighted thinking by governments, policymakers, and investors alike.
Let me walk you through how I see the market today... what the recent moves in gold, silver, copper, and uranium actually mean... and how I'm making money by understanding the challenges no one wants to talk about.
Gold is near record highs, silver is pushing higher, copper has broken out, and uranium is near decade highs.
And yet, most investors are still sitting on the sidelines.
The commodities bull market we're in right now has been building quietly for more than a year. And now, it's starting to accelerate.
A Bullish Trend for Copper
Take copper, which is trading around $5 a pound in the face of what most people would call an uncertain global environment.
The copper market is on a knife's edge. Global demand continues to rise, driven by AI infrastructure, electric vehicles, grid expansion, and traditional construction. But on the supply side, we're getting warnings left and right.
Freeport-McMoRan (FCX) had to temporarily shut down operations at its massive Grasberg mine due to flooding. That's one of the biggest copper and gold mines in the world. Then, Ivanhoe Mines (IVPAF) had a fatal accident at its Kamoa-Kakula mine, halting production.
The market reacted, pushing copper prices higher. And I think it's just getting started.
We simply don't have enough new copper projects coming online to meet growing demand. And any new projects will take seven to 10 years to build, even under good conditions.
That's not something you fix easily. That's structural, and it's bullish for copper prices.
Gold Is Breaking Out... And Silver Is Following
People used to think gold only moved when the dollar weakened or when the Federal Reserve cut rates. That's not how it works anymore.
Gold has been hitting all-time highs even while the dollar stays firm and the Fed stays tight.
Why? Because investors aren't just reacting to monetary policy anymore. They're reacting to instability, distrust, geopolitical chaos, and a system that doesn't feel like it's working.
Gold is breaking out because confidence is breaking down. And silver is following.
These precious metals have strongly outperformed the S&P 500 Index this year. Take a look...
When gold leads and silver confirms, that's a bullish setup. Precious metals are experiencing a technical breakout... We're in the early innings of a classic rally.
Uranium Miners Can't Keep Up With Demand
Uranium has been one of the best-performing commodities over the past couple of years – and it still has room to run.
We're seeing strong institutional buying. Utilities are coming back into the market – causing demand to skyrocket. And long-term demand is solid as well.
But what I'm really watching is supply...
Cameco (CCJ) has missed its production guidance. Kazatomprom, the largest uranium producer in the world, has said it won't hit its targets for the next two years due to a lack of sulfuric acid – which it needs to leach the metal from the ground.
That's a big deal.
Demand is increasing. Nuclear energy is getting bipartisan support in the U.S. New reactors are coming online globally. Small modular reactors are gaining traction. Even the U.S. Department of Energy is building a strategic uranium reserve.
Supply is fragile and demand is growing... so prices took off.
Now, I've owned uranium stocks since 2020. I've bought on weakness and taken profits along the way up, but I still see a path to significantly higher prices.
If you've never invested in mining stocks before, let me tell you, it's not easy.
Permitting is slow. Environmental opposition is strong. Supply chains are complicated. Labor is tight. Politics are unpredictable. Accidents happen. Equipment breaks.
That's reality... And it's why I'm bullish.
Because when something is hard, it doesn't scale easily. And supply stays tight.
You can't snap your fingers and create a new lithium supply chain. You can't build a new copper mine in two years. It just doesn't work that way.
That difficulty is what creates the opportunity. It's what makes commodities cyclical. And it gives investors like me a road map.
You Don't Need a 'Crystal Ball'
A lot of investors try to predict "black swan" events.
They want to guess the next war, pandemic, financial crisis, or big move by the Fed or the White House.
That's not how I invest.
I don't need a black swan to justify owning hard assets. I don't need a crash to make money in uranium or a recession to profit from copper.
I invest based on what the market is telling me. And right now, we're in the early stages of a major bull market in commodities.
It's based on supply shortages, infrastructure demand, inflation, and resource nationalism... on real things, not imagined risks.
If a black swan happens, so be it. But I'm not betting on one. I'm betting on cycles and on reality.
We've already seen the breakouts. These commodities have moved higher. But it's not too late. In fact, I'd argue it's still early.
The big institutions haven't piled in yet. Most retail investors haven't even noticed.
That's exactly when you want to be building positions... when the market is giving you a gift – but hasn't put it on the front page yet.
Mining is hard, supply is tight, demand is rising, and prices are responding.
You don't need a crystal ball. You just need to pay attention. That's what I do. And it's why I'm making money in this market. The question is... are you?
Regards,
Nick Hodge
Editor's note: Right now, government insiders are moving money into a shortlist of national priority stocks now considered "too critical to fail." And the next group of stocks the White House buys could send shockwaves through the market. If you want to know where to move your money to prepare – plus the one stock folks will be wishing they owned in six months – don't miss this special briefing, before it goes offline.
Further Reading
Gold recently suffered its worst one-day fall since 2020. But that doesn't mean the gold boom is dead. In fact, according to history, this kind of sell-off could lead to strong one-year rallies. And that means now could be a great time to buy.
The financial world is filled with uncertainty... And "doomscrolling" through all the negative headlines will always give you reasons to not invest. But if you sit on the sidelines too long, you could miss out on the best potential opportunities.