[music] I mean, I think the bigger risk is missing out on the rest of this bull market, which is going to last for quite some time. Um, so yeah, I mean, and I also think that the risk is going to be that there are going to be a lot of people that are going to uh take profits too soon. they're going to say, "Oh, I've doubled my money or I've tripled my money. Let me get out." >> And we've got some pretty pretty big moves in the markets. Uh gold starting to break out and run higher. We had silver post some pretty big gains. Silver has run all the way up, hit our 20% target uh yesterday, which was pretty exciting. And um if we take a look at platinum and platium, just insane moves here on on platinum, up like almost, you know, 10%. It just continues to push higher. And we've got Platium up about half percent this morning. Uh uh platinum's up about uh 2% two and a half% this morning. But we've got some pretty big moves going on in this space. >> I think any decline like the one we had an hour ago, you know, is a great buying opportunity. I I don't expect there to be that big a decline because I don't think the markets are going to make it that easy for people to buy because I think prices are still much too low. And I think at this point you have a lot of investors who want to get into this market. And so there's too much buying beneath the market for the market to to correct that substantially. I think there will be sharp sell-offs to kind of get the day traders who are trying to be cute and just maybe come into the market with some leverage positions intraday. I I think you know they still have to have risk there. It can't be just like one-sided can't lose. So, keeping the speculators honest, I think you're going to see uh plenty of sharp declines like we had today, but not major uh declines. So, I think you've really got to get into this market to the extent that we do see sell-offs. I I expect them to bounce back very quickly. You know, if we go into a major stock market meltdown where stock markets are down, you know, 20, 30, 40, 50%. Yeah, you know, gold stocks could get dragged down, uh, but I don't think they'll go down as much and I think they'll come back much quicker. And a lot of it depends on what gold does. I mean, if we see a major drop in the stock market and we also see a drop in gold, okay, then the gold mining stocks are going to get hit. But if we see a a surge in the price of gold, if the money that's leaving the stock market goes into the gold market instead of the treasury market, it'd be hard to imagine, you know, gold moving up substantially and the gold stocks ignoring that and going down. You would think that they would they would rise. >> If equity markets were to face a serious sell-off down 20, 30, or even 40%, almost nothing would be spared at the start. Gold mining stocks could also dip as liquidity tightens. However, history shows they usually decline less and rebound faster, especially when investors rotate towards safe haven assets. What matters most is the price of gold. If money leaving stocks moves into gold rather than bonds, it's hard to see gold miners staying weak for long. Higher gold prices tend to support valuations and speed up recoveries across the sector. I mean, I think the bigger risk is missing out on the rest of this bull market, which is going to last for quite some time. Um, so yeah, I mean, and I also think that the risk is going to be that there are going to be a lot of people that are going to uh take profits too soon. They're going to say, "Oh, I've doubled my money or I've tripled my money. Let me get out." And you know, look, you know, selling some taking some of your profits off the table. I suppose I can't necessarily uh argue with that as a riskmanagement strategy. Uh but I think that we have a long way to go. And so I think that, you know, people that think, okay, it's time to cash out and look for something else. I think that that's going to be the mistake that people make, thinking that it's a top, thinking that, you know, they've made enough money and they want to they want to get out because I think we're starting from such a low level. you know, even if you know, stocks double or triple, you got to look at where they moved from, uh, you know, and where they, you know, how low they actually were, uh, you know, relative to, you know, pasts and and where they're likely to go because I think earnings are going to explode for these companies. And so I think uh the valuations, you know, are way too low that the the market is not factoring in and crediting these companies for what they're likely to earn in the future. Not just from today's gold prices and silver prices, but from the gold and silver prices that we're going to have in the future. >> One of the biggest mistakes investors make in long bull markets is getting out too early. Doubling or tripling an investment can feel like success, but context is important. Many precious metal stocks are still rebounding from historically low levels. And even after strong moves higher, valuations often remain well below previous cycles. Earnings potential is expanding, not contracting, supported by higher metal prices and tighter supply conditions. While taking partial profits can be reasonable, fully exiting positions just because gains appear large often leads to regret. The greater risk isn't volatility, but missing the compounding phase of the cycle. >> I mean, I don't know. I mean, they they barely even report on it, let alone pump it. You know, even today, I was watching CNBC this morning, and this is when gold is up like 60 bucks. Silver's, you know, still at record territory, you know, you know, up above 5430 or something or 6430 and and as they're going into a break, they say, "Oh, let's take a look at the markets. Oh, the NASDAQ." And they talked about the NASDAQ. Let's look at Bitcoin. And that was it. You know, they didn't even bother with the precious metals. And in fact, I was watching yesterday and they said, "Coming up, we're going to talk about Bitcoin and and whether or not we're going to see a rebound next year, but they hadn't even mentioned gold or silver yet cuz I was waiting for that." And gold and silver, they don't have to talk about a rebound. We're at record highs. So, they're not even barely reporting on it. Yeah, once in a while they do mention a gold or silver stock or, you know, but they don't really encourage anybody to buy into it. they just kind of mentioned that it's gone up. Uh they're still trying to um you know direct their audience to Bitcoin. So, I think before CNBC even remotely starts to advocate for gold or silver or have guests like me that come on, I never come on that network, but if they have people that are real, you know, gold people, it's probably not going to be till after all the air comes out of the crypto bubble and the crypto community no longer can afford to advertise on CNBC because, you know, right now they're trying to uh, you know, pander to their advertisers and uh and I and I think the crypto advertisers don't want anybody uh focusing attention on gold because they're trying to get people to buy Bitcoin instead of gold. Uh and I think this what's happening right now in gold should be very problematic to the Bitcoin pumpers because why isn't Bitcoin going up? If it's digital gold and if it's supposed to be better than gold, if gold is going way up, then Bitcoin should be going up even more. But instead, it's down as gold's going up. So, they got no explanation for this other than, well, gold moves first and Bitcoin moves second. Well, who says why? I mean, why wouldn't it already be moving? If Bitcoin is going to move on the rate cuts and the return to QE, why isn't it moving now, right? I mean, it doesn't make any sense that it just waits for gold to stop going up and then Bitcoin all of a sudden magically starts going up. It doesn't make any sense that that would happen. Maybe that happened a few times in the past, but that might be more of a coincidence than anything else. Um, I I don't think it's a foregone conclusion that every time gold goes up, Bitcoin must go up later and must go up more. You know, I I think it could just come crashing down. In fact, the fact that it's not rallying is a good sign that it's about to go way down. >> Don't miss what comes next. Subscribe now.