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Copper Demand Is Surging but Supply Is Stalling
This chart is a simple picture of a very big future problem. It shows copper demand rising steadily from around 25 million tonnes in 2020 to more than 42 million tonnes by 2040, while supply climbs only for a while,…
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Institutions Are Sending a Clear Message About the Dollar
This chart is showing one big message: the world is slowly holding less of its reserves in US dollars. Think of global foreign exchange reserves as the emergency savings account of central banks and large institutions. For years, the dollar…
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If This Trend Continues Gold Miners Could Reprice Fast
This chart tracks quarterly free cash flow for three major gold miners: Newmont, Barrick, and Agnico Eagle, from 2016 through 2025. And the message is not subtle. After years of choppy, uneven performance, cash generation is now breaking higher in…
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