Gold’s Rally Is Different as Central Banks and Investors Align | Michael Gentile

Michael Gentile, founder of Bastion Asset Management and a strategic investor in junior mining, says the current surge in gold reflects a structural shift driven by both central banks and financial investors. Speaking with Kitco Mining at the VRIC 2026, Gentile said, “it’s the first time we’ve seen both central banks and financial players buying at the same time,” arguing this dual demand dynamic is driving a long-overdue repricing in precious metals.Gentile said earlier gains in gold were driven largely by central bank buying, while traditional financial investors were mostly absent. He said that has now changed, with financial participation accelerating as confidence in higher price levels grows, reinforcing the structural nature of the move rather than signaling speculative excess.Turning to equities, Gentile said junior mining stocks remain deeply undervalued relative to metals prices, citing the persistent lag between physical markets and equity valuations. He said stronger margins, open capital markets, and improving balance sheets could drive reratings across the sector, while greater price stability may unlock increased cash-backed M&A activity.Don’t forget to subscribe to the Kitco Mining & Kitco News YouTube channels to stay up to date on the latest industry news and interviews.Special thanks to our sponsor, Discovery Silver. Visit https://discoverysilver.com/ to learn more about the company, its latest news, and investor materials.__________________________________________________________________Kitco Mining is dedicated to reporting on the mining industry. Our mandate is to be the top resource for all mining information and news, offering a clear perspective on where the industry is going through breaking news coverage, mining trends, and in-depth reporting, presented with precious, rare earth, base metals, and industry stock prices.Get important precious and base metal updates while on the go with the Kitco Gold LIVE! app - https://applications.kitco.comStay connected with usX - https://x.com/KitcoMiningInstagram - https://www.instagram.com/kitcominingLinkedIn - https://www.linkedin.com/company/kitco-miningFacebook - https://www.facebook.com/KitcoMiningConnect with the Kitco Mining anchorsPaul Harris - https://x.com/paulharrisgold For more in-depth mining coverage, visit us here - https://www.kitco.com/miningDisclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.