Everyone knows about the pot of gold at the end of the rainbow. But unless you live in Kansas or spend your days singing in a swamp, you're probably more interested in the real pot of gold, the one currently vaulting higher than Dorothy’s house in a tornado.
Gold’s parabolic run has now inflated the US Treasury’s stash to around US$1 trillion, up from its 1973 book value of a modest US$11 billion.
Unfortunately, even if you clicked your heels together, it would barely make a dent in the US national debt.
In the Weekly Market Digest, several assets I track weekly hit new 52-week or record highs, underscoring broad-based strength across commodities and related equities, including gold, silver, and precious metal equities. The concerns about copper supply supported base metal equities.
The Exploration Insights portfolio was up last week, as one-third of the companies reached new 52-week highs; however, overall, it trailed the benchmarks.
In Stock Talk, a Top Pick cash-flowing royalty generator adjusts the terms of a royalty in Türkiye, while a pair of grassroots exploration companies in Nevada and Quebec are starting maiden drill programs on previously untested gold targets.
As I am currently on the road to Chile and Argentina, with spotty WiFi, for a few site visits and to attend a conference, I will defer a few updates until next week.