Gold Stocks Are Starting to Outperform

In 2023 and 2024, gold prices trended higher. That trend has continued this year, with gold prices rallying over 20%.

In prior years, gold mining companies have been conspicuously absent from that rally. But in 2025, they’re starting to move up – and at a faster pace than gold:

Gold mining stocks should perform better than gold during a rally. Why? Imagine a gold company has total cash costs of $1,500 per ounce.

At $2,500 gold, they make a profit of $1,000 per ounce. If gold rallies to $3,500, a 40% rally, the miner’s profit goes from $1,000 to $2,000 per ounce – a 100% jump in profits.

That’s the power of investing in gold mining companies. Aside from the first half of 2016, this is the best setup for gold mining stocks since the early 2000s. It’s not too late to buy gold stocks if you haven’t done so yet.

~ Andrew

The Shocking Truth Behind Apple’s Biggest Comeback

While headlines predict Apple’s demise, a secret project Steve Jobs personally initiated — Project Mulberry — is finally ready. And one tiny $30 supplier holds the key to this long-awaited breakthrough. See the full story here…

P.S. We’ve been pounding the table on gold since the inception of the Grey Swan Investment Fraternity. And it’s been nearly 10 months since we released our initial deep-dive research into gold.

While our estimates for gold moving to the five-figure range may have seemed wild last year, with the continued rally and ongoing central bank gold buying, our research only holds up with the passage of time.

Given that gold could rally not just to $10,000 but more than twice that, it’s still a reasonable price, especially if you need to buy some more of the metal as portfolio insurance against a Grey Swan event like a financial crisis or renewed inflationary spike.

As always, your reader feedback is welcome: feedback@greyswanfraternity.com (We read all emails. Thanks in advance for your contribution.)

In 2023 and 2024, gold prices trended higher. That trend has continued this year, with gold prices rallying over 20%.

In prior years, gold mining companies have been conspicuously absent from that rally. But in 2025, they’re starting to move up – and at a faster pace than gold:

Gold mining stocks should perform better than gold during a rally. Why? Imagine a gold company has total cash costs of $1,500 per ounce.

At $2,500 gold, they make a profit of $1,000 per ounce. If gold rallies to $3,500, a 40% rally, the miner’s profit goes from $1,000 to $2,000 per ounce – a 100% jump in profits.

~ Andrew

The Shocking Truth Behind Apple’s Biggest Comeback

P.S. We’ve been pounding the table on gold since the inception of the Grey Swan Investment Fraternity. And it’s been nearly 10 months since we released our initial deep-dive research into gold.

As always, your reader feedback is welcome: feedback@greyswanfraternity.com (We read all emails. Thanks in advance for your contribution.)

Stocks have developed a habit of selling off into the weekend before rebounding this year.

One big explanation might be that traders don’t want to be leveraged going into two days where the market’s closed in New York – but stay open online.

Any random Trump tweet can and has moved the market!

Ostensibly, if the weekend is quiet, stocks can recoup their Thursday/Friday declines.

What we’ve seen since 2008 is nothing short of a theft of the commons. Except it happened in little pieces that seemed unrelated at the time. But if we look at the story holistically, it all comes together.

When we step back and view the entire picture, what emerges is not just a story of market excesses and economic shifts. What we see is the gutting of middle America – be it intentional or otherwise.

Now the question is – are we going to see the restoration of the American middle class in the coming years… or are we going to watch everything devolve into a modern redux of the War Between the States, more commonly but mistakenly known as the American Civil War?

Today’s Washington isn’t governed so much as stage-managed.

Politicians don’t solve problems; they perform them.

The current fixation is affordability — a word that will be repeated ad nauseam from now through the 2026 midterms, until it becomes as meaningless as “bipartisan.”

The script hasn’t changed in decades: promise relief, pass a law that raises costs, blame capitalism, hold hearings, fundraise, repeat.

Yes, Nvidia’s profits are up 500%, and its share price followed suit — a rare case where the story actually matches the math. But that’s the exception, not the rule.

Beneath the headlines, we’re starting to see the kind of financial gymnastics — circular lending, balance-sheet origami, and creative “partnerships” — that usually signal the boom is running out of breath.

If history rhymes, it looks like we’re closing in on the tail end of a mania.