Gold & Silver Stock Outlook 2026: Why Miners Lack Reserves | Tavi Costa

In this powerful kickoff to 2026, Craig Hemke for Sprott Money welcomes macro strategist and investor Tavi Costa to discuss the massive shifts brewing in global markets. Tavi unveils key macro trends for 2026, including the asymmetric opportunity in energy, the undervaluation in gold and silver mining stocks, and a major capital rotation into hard assets. With inflation risks rising and financial repression likely ahead, Tavi explains why the setup for commodities — especially gold, silver, and copper — is just getting started. They also explore Latin America’s investment potential, the mining sector’s structural underinvestment, and the role of sovereign actors in driving private market activity. This is essential listening for anyone looking to buy gold or silver, or to understand where the silver and gold prices are headed next.