Hello everyone. Welcome to Bald Guy Money and welcome to 2026 where so far as I am recording this while the market is still open, mind you, we've seen both gold and silver bounce back ever so slightly after a very turbulent end to 2025 that saw gold prices rise 64% for the year and silver prices rise a whopping 142% fueled largely by supply and demand fundamentals but partly by a US dollar that lost 9.4% 4% of its value relative to benchmark currencies on the DXYUS dollar index with significant room for


the dollar to continue moving down in 2026 as the Federal Reserve is expected to continue cutting interest rates to a minimum of 3% according to the CME Fed Watch tool which you can see here on the screen with a strong likelihood of going below that bringing rates below the official CPI level. At the same time, the Federal Reserve has started printing money again, adding about $50 billion to their balance sheet in the month of October, telling us that the fundamentals supporting more moves up for gold and silver in 2026 remains


stronger than ever. That said, the war against precious metals, specifically silver, because that's a war they still think they can win, is reaching the next level with attacks like this one here from CNBC claiming that silver is the real bubble being strategically timed with other market actions like the margin requirement changes by the CME that sent metals prices down on Monday by design, in my opinion. All in an effort to keep normal people from buying one of the things I think they're going


to need most moving into the future. So, in this video, we are going to talk about the latest round of attacks against precious metals, why it's happening, who's behind it, as well as why this is not the top for gold and silver, including updated analysis for gold and silver, showing price development since making new highs in December versus how prices developed after the 1980 and 2011 highs, which is something we've done here on the channel before, which ended up being a very accurate accurate indicator that we were


not at the top for gold and silver back at the end of October 2025. And we'll finish this video on the topic of copper, why you need to be careful when considering physical copper products as a budget stacking option, and what I think is the best way to get exposure if you believe copper prices are going up. Now, just before we dive in, I want you all to know that this bonus New Year video has been made possible by investing.com and their powerful market analysis tool, Investing Pro, which I


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raised their margin requirements at the end of December. And that contributed to the large pullback we saw in gold and silver prices, which is true because when the margin requirements go up, people who are speculating on metals prices with paper contracts, often using borrowed money, by the way, have to put up more of their own money to keep those contracts and to keep their bets alive. And when the cost went up so much that they simply didn't have the cash on hand to cover those bets, a lot of the


speculative tourist money that I warned you about in my December 28th video when I told you all to look for silver to come back to $72 an ounce, well, that money simply disappeared, forcing those speculators to sell their paper positions, flooding the market with paper supply of precious metals, thus pushing the prices of both gold and silver down significantly. Now, where some people will complain and say they're not playing fair by raising the margin requirements, knowing that it would force the speculators to sell


their positions off, I want you all to understand that this doesn't mean anything for gold and silver. It's just noise. And if you focus too much on the noise, you'll forget about the signal. And it's the signal we need to be focused on because the volatility in price again driven by paper trading driven by speculators which I had warned you about back on December 28th hasn't reduced central bank appetite for gold as an alternative to the US dollar. They're still buying gold and I expect


more central banks to start buying gold in 2026 in the same way we saw three new central banks buy gold for the first time in 2025. In addition to that, this has done nothing to fix the fundamental issues we are seeing in physical silver supply which simply cannot keep up with physical silver demand. So, don't let things like the CME margin requirement changes shake you out or occupy too much space in your brain because coming back to this negative piece on silver from CNBC, this has all the telltale signs of


a coordinated move to shake confidence in the metals market. And what you ultimately have to remember is when you see stories like this is that CNBC is a pseudo news agency owned by Comcast whose largest shareholders are the very institutions that have no interest in seeing you buy physical silver at all. And that includes Vanguard, Black Rockck, State Street, and JP Morgan Chase, who are the four largest shareholders of CNBC's parent company, holding a combined 29% of total shares in the company and having enormous


influence on the message broadcasted by CNBC. And as much as I agree we have to remain diligent and look out for bubbles, what they're not telling you at CNBC is that the biggest bubble of all is the US dollar and other fiat currencies, of course, silver is not a bubble. And let me add that if the money supply grows fast enough, and we already know it is growing again with the Federal Reserve having printed almost $50 billion in the month of December. Even if the stock market and AI stocks are in a bubble, prices can still go


higher because of the speed at which the currency prices are measured in is debasing. And we've seen precisely that in many countries around the world, including Turkey, which despite being well-developed, having both a thriving manufacturing and tourist industry. I've said many times on the channel, I've done business in Turkey many times in the past when I still worked in a corporation. Turkey has experienced enormous amounts of inflation, inflicting massive harm, not only on the population, but also on the economy.


with the stock market, despite all of that damage being done, moving up at a record pace, not due to the value of companies listed on the index on the Turkish stock market exchange, but due to the falling value of the currency the index is measured in, in this case, Turkish LRA, whose devaluation has also resulted in the price of gold skyrocketing up more than 1,200% over the past 5 years. So remember, the CME can raise margins and CNBC can put out negative news stories all they want, but they cannot change the fact that the


US dollar is losing value with each passing day and that there is a real demand for both gold and silver that cannot be extinguished at this point. Now instead of just using words to make my case, I want to show you all once again how things are different using numbers. And to do that, we are going to repeat the indexing exercise where we take the highs from 1980, 2011, and 2025 and show how price developed and is developing relative to those highs in the days following a new high, which should tell us, as it did back in


October when I said 5450 wasn't the high for silver, whether we are following the 1980 and 2011 topping patterns or if things are still different this time around. And we start with silver, which is $7243 per ounce as I am recording this video, which makes the price of silver, despite all of the dramatic price moves we've seen, only about 8 1.5% off from its December 26th closing high in the four trading days after making it, which is quite strong versus the large pullbacks we saw for silver after the 1980 and


2011 tops, where price pulled back by 27%. % in 1980 and 19% in 2011 in the four trading days after making the new highs. In fact, in order to match the 19% pullback from 2011, silver would have to close around $64 an ounce today, which I highly doubt it will, showing us once again this is not a 1980 or 2011 style top for silver. And just as we couldn't trust the mainstream media to warn us that the move up for silver was coming so we could benefit from it, they have no clue where the top will be and


when we should be selling it. Now, moving on to gold. As you can see in the image here on the screen, the orange line that shows development after the 2011 high remains the strongest, having only fallen 2% below the high in the 4 days after making it in 2011 versus about 4% today, which is not really a significant difference. So, all things considered, it may be a bit early to draw any conclusions from this data for gold. But one thing I think is already abundantly clear is that this is not a 1980 situation as gold had already


fallen 24% versus its high only 4 days after making it in 1980 which when paired with the data for silver tells me we're most likely in another October 2025 scenario than a real market top scenario like we saw in 1980 or 2011. But let me know in the comments section if you want me to keep monitoring this and if you want me to update this data on a regular basis until we make new highs. So, having hopefully demonstrated why gold and silver prices are not giving us the same topping signs they


gave us in 1980 and 2011, I want to touch on copper because Timothy Haniman and others have been asking about it a lot lately. And since I covered platinum recently, I only thought it was fair to cover copper as well. So jumping in, if we follow the trend for copper over the last five years and even longer than that to be honest, it's clear that copper is in a long-term upward sloping trend. Price is rising and it's showing no signs of wanting to reverse. as electrification, which is the process


where we're powering more things in our lives with electricity than ever before, actually growing our energy demand needs at a rapidly growing pace needs copper. Electrification needs copper and it needs a lot of it because it's a cheap and effective way to conduct electricity. The only problem is our need for it is growing much faster than our ability to supply it. And because people are becoming aware of this, many stackers who are getting priced out of silver or are simply looking for a


better deal versus silver are turning to cheaper copper rounds like the ones you see on the screen here as a way to participate in the boom and save their wealth in a tangible asset at the same time at a seemingly irresistible price with 1oz copper rounds often starting for about $1.99 each but moving higher especially over the last few weeks as many of the cheaper ones have totally sold out on many websites around the world. Now, I'm not going to dwell on this part of the video for too long, but


the fact is that those cheap copper rounds, which seem like a steal at $2 to $3 an ounce, are actually quite expensive. As the price of copper that I showed you all earlier, is measured in pounds. And since there are 16 of these averdup ounces in a pound, that means the value of a 1oz round that you're buying for $2 to $3 is only about 36, making the premium in the best case scenario when you're buying it at $1.99 higher than $450% above the real spot value of the copper itself. Now, for those of you who


watched my last video where I spoke about platinum, the same thing I said in that video applies to copper because where I think it has a great chance to increase in price certainly versus the devaluing US dollar, playing the physical market is simply not the best way to do it. And with silver having more upside opportunity, I'd focus my efforts there in physical stacking because the premiums are lower on silver versus the ones I just showed you for copper. And it's also easier to sell where platinum and copper rounds are not


always that easy to sell, especially at a price that you think is fair. So, from my point of view, if you want to speculate on the price of copper moving up in a way that doesn't charge you a 450% premium above spot like those awful copper rounds do, and you want something that's easy to sell at a profit, if you end up being right about the price of copper, then what I'd say is focus on the copper mining stocks and start with the Global X Copper Miners ETF, which is like the GDX for gold miners, but of


course, this is for copper miners. ers and is up 150% more than 150% over the past 5 years, beating the S&P funnily enough over that exact same period of time. And as you can see in this data from investing.com, it also pays a pretty solid dividend. Now, if you'd like to find individual stock deals that have maybe more upside potential than the ETF itself, here is a list of the stocks that the ETF holds, ranked from most upside potential to lowest upside potential by the investing.com investing


pro tool. And you can screenshot this if that helps you. But as you can see, all of this data is available to you when you have the investing pro package from investing.com. And yes, this video is of course sponsored by investing.com, but I regularly use this tool to look for stocks this way and then compare them to industry peers, which I have also done for you all free of charge right here for Hud Bay Minerals, which I welcome you all to screenshot. they are a part of that copper mining ETF because even


if you don't sign up for investing pro, at least you'll be able to use this as an alternative source of information on what your options are to get exposure to copper without paying $2 for something that sells back to dealers for about 80 cents per ounce round. So less than half of the sell price that they sell it to you for. And that's according to posts that I found on Reddit. That's not data that I'm just making up or or pulling out of a hat. And if you're thinking about getting exposure to mining stocks


or energy stocks in 2026, and for full disclosure, those are the two industries I'm holding stocks in and I'm quite positive on for 2026. then please consider investing in an investing.com membership because it can really help you navigate these industries and support you in making the best decisions possible especially as we progress in this metals bull market which I fully expect us to do once we get past what I assume will be a volatile January. So as we finish I just want to thank investing


pro from investing.com for making this video possible. Please remember to check out the link in the pinned comment and video description below. And if you've been meaning to sign up because you want to increase your confidence when investing in mining stocks or oil stocks or any stocks, please consider doing it now and take advantage of the 55% off deal plus the extra 15% off you get when you use my link. So with that said, I want to thank you all for joining me for this special New Year video. I will be


releasing my Sunday video as usual this weekend. So of course, please look out for that, too. I'm wishing you all a fantastic weekend ahead. Please remember to take care of yourselves and take care of each other. See you in the next video.