Metals and Miners
Metals, Miners, Finance & the Economy at-large | Subscription details posted on our About page
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What they write about
Metals, mining equities and the wider economy, written in emphatic headline style. Recurring subjects include silver and structural supply deficits, Treasury yields and the 60/40 portfolio, sovereign debt and central bank reserves, oil and Middle East supply risk, and the energy demands of the AI build-out. Also runs interviews.
- precious metals
- mining
- treasury yields
- sovereign debt
- oil
- commodities
Recent examples: GOLD ROSE 3.5% IMMEDIATELY AFTER THE BLUE WAVE WAS VOTED IN: Democrats took both chambers of Congress & gold spiked hard. Why? Because it’s pricing the debasement trade! · LUKE GROMEN | We don’t have the stuff (copper, silver, lithium, uranium, etc) & it will take years to get it!
Written from Metals and Miners’s own published post titles and openings in Sep 11, 2026. It describes the subjects the newsletter covers, not its views, and is not investment advice.
Most-mentioned tickers
Symbols named in the headline of a post from the last 30 days, most-covered first. The number is how many of those posts mentioned it.
Read from 1 post headline in the last 30 days. A newsletter that names a company only in the body of a post will not appear here, and a mention is not a recommendation — it only means the symbol came up.
Growth history
Subscribers (thousands, nightly)
29K on Sep 10, 2026 → 30K on Oct 21, 2026
Followers (thousands, nightly)
Rank in Substack’s finance leaderboard: #70 today · #65 a week ago · #59 a month ago
Stats worth sharing
Tracked since Sep 10, 2026 — 62 daily snapshots so far. The card below is built from what we track and refreshes nightly.
- Percentile
- Top 14%
- Best rank seen
- #59
- Rank, 7 days
- −5 places
- Rank, 30 days
- −11 places
- Followers added
- +2.0K
- Posts
- 38
- Reactions per post
- 12
- Reactions tracked
- 1.1K
- Tickers covered
- 1
of 525 ranked finance newsletters
on Oct 12, 2026
since tracking began
last 30 days
average, recent posts
across 93 posts
in tracked posts
Most-reacted post we have seen: EUROPE IS TELLING ITS CITIZENS WAR IS COMING: Hospitals and Bunkers Are Being Readied, Washington D.C. Is Pulling Back & Why Gold, Silver, and the Miners Sit Under That Alert! — 24 reactions on Sep 19, 2026.
Recent posts
- GOLD ROSE 3.5% IMMEDIATELY AFTER THE BLUE WAVE WAS VOTED IN: Democrats took both chambers of Congress & gold spiked hard. Why? Because it’s pricing the debasement trade!
America voted yesterday and the result was a clear and definitive shift. Democrats took control of both chambers of Congress in a massive sweep. The outcome has been described as a blue wave and a very difficult night for Republicans. Voters asked for change. One direct consequence is the path of federal spending. The prior administration increased outlays and added to the debt. The incoming congressional majority has historically favored still larger spending programs and more redistribution. And President Trump will be happy to oblige. The difference between the parties is one of degree…
- LUKE GROMEN | We don’t have the stuff (copper, silver, lithium, uranium, etc) & it will take years to get it!
WATCH THE LUKE GROMEN INTERVIEW HERE ! Description Luke Gromen, founder of Forrest for the Trees (FFTT), rejoins the Metals and Miners pod on 11/2 and delivers one of his sharpest big-picture breakdowns yet. He explains why the recent drop in bond yields is likely just a bear-market rally, why the United States can only make its fiscal math work with sustained negative real rates, and why AI is simultaneously “too big to fail” and actively undermining the Treasury’s tax base. Gromen connects the dots across fiscal dominance, the crowding-out effect of the AI build-out, China’s accelerating…
- THE 1920s “TECH” BOOM ENDED IN COLLAPSE & THE GREAT DEPRESSION BUT GOLD MINERS DID NOT: Homestake Mining Rose 10X While the Market Fell 89%. Why Does Today’s A.I. Dependence Look Familiar?
The 1920s followed a pandemic in 1919 and featured rapid growth in new technologies, heavy government spending, and rising prices. Capital poured into the high-flying names of the day. The economy and the stock market became heavily dependent on that technology-driven expansion. When the expansion broke in 1929, the collapse was broad. The Dow fell 89% from its peak to the 1932 low. Banks failed by the tens of thousands and there was no FDIC insurance. Unemployment reached 25%. Savings were wiped out for many millions of people. One corner of the market, however, moved in the opposite…
- AMAZON WAS INEVITABLE. SO IS GOLD: The Online “Bookseller” During the 1990s - mid 2000s survived years of losses and a crash to become a global behemoth. Think this is the end of the road for gold?
Jeff Bezos has distinguished between the inevitable and the unchanging. Some outcomes are coming because the underlying forces are too strong to stop. Amazon, looking backward, was one of those outcomes. In its early years the company did not earn any profits. In fact, they lost money. A lot of money. When the Dot-Com bubble burst, the stock completely collapsed. Many observers decided the story was finished. They saw an online “bookseller” that had run out of momentum. They did not see the infrastructure being built underneath the losses. Gold has experienced its own sharp decline. It traded…
- THE BIGGEST BUILDOUT IN HISTORY STILL NEEDS THE METALS: Mining was starved for 2 decades and is miniscule in comparison to the historic size of the A.I. CAPEX. What do you think is coming?
For the last several years the conversation has centered squarely on the A.I. buildout, on data centers, and on the modernization of power grids. Significantly far less attention has been paid to the metals required to make it work. Yet it underpins it all. Copper, silver, lithium, uranium, and a range of other critical metals are embedded in the servers, the power lines, the cooling systems, and the generation equipment. The same requirement exists in every country that is trying to expand its digital and industrial capacity. At the same time, mining these metals has been an afterthought for…
- THE MACRO BUTLER: Reset in Peace?
Every fiat currency is a promise. Every promise has an expiry date. History has never once failed to collect. A currency reset is the moment a monetary system is forced to admit what markets already know: the money in circulation is worth far less than the promises denominated in it. It is the accounting reconciliation between two ledgers. On one side sit the state’s liabilities : bonds, pensions, deposits, entitlements. On the other side sits the real economy’s capacity to honour them : energy, food, metals, labour, productivity. When the first ledger outgrows the second for long enough, one…
- FROM $5,500 GOLD TO BELOW $4,000: “It was the best of times, it was the worst of times.” The greatest market sentiment swing in history WILL reverse once again!
In late January 2026, gold traded near $5,500 and silver near $120. Many market participants treated those prices as the start of a move that would continue without interruption. They believed precious metals were “going to the moon.” Today, gold has fallen below $4,000 and silver below $50. The mood has completely reversed with the price. The same market that was described as headed to the moon is now described by some as headed to the basement. Author Charles Dickens opened A Tale of Two Cities with the line “It was the best of times, it was the worst of times.” He was describing an era of…
- RICHARD OSMOND | A lot of tier-1 discoveries are getting depleted and you need about 1 million tons of additional copper annually!
WATCH THE RICHARD OSMOND INTERVIEW HERE ! Description Richard Osmond, CEO of Element 29 Resources, joins the Metals and Miners pod on 10/28 to explain why the structural copper supply gap is real and getting harder to close, and how his team is advancing a portfolio of Peruvian copper projects built specifically for this environment. After nearly three decades working on discoveries with major companies, Osmond spent years assembling ground in Peru when it was still underexplored and inexpensive to hold. The flagship is the Elida porphyry copper-molybdenum-silver project, located at low…
- THE A.I. TRADE HAS TO KEEP GOING OR THE ECONOMY DRAMATICALLY SLOWS: will new A.I. market tremors lower December Fed rate hike odds & finally remove a headwind for the metals and miners?
If the A.I. technology trade weakens and the rapid pace of capital spending slows, both the economy and a large part of the stock market lose support. A significant share of recent growth has come from spending on data centers, chips, power equipment, and related A.I. infrastructure. Companies have funded that spending with strong cash flow and with new debt. If that spending drops, the growth contribution drops with it. For the United States that outcome is more than undesirable. It is likely the path to recession and ceding the race to China. The practical path, for now, is to keep the…
- CRYPTO AND A.I. TOOK THE CAPITAL. NOW BOTH ARE COOLING: 2 Enormous Trades of the Last 10 Years Are Now Declining Opens the Door for the Historically Needed and Highly Profitable Mining Complex!
Over the past ten years, two asset classes pulled in enormous amounts of capital. Cryptocurrency drew investors looking for a new form of money and for large price gains. Artificial intelligence drew investors looking for the next wave of technology spending and growth. Both trades became so large and profitable to dominate most of the attention and to absorb fresh money that might otherwise have gone elsewhere. Crypto inflows have slowed ddramatically across 2026. The A.I. investment boom is now showing major cracks. To be clear, the technology itself is not going away and A.I. will continue…
- 2027 WILL RESEMBLE THE 2000-2003 CAPITAL ROTATION: Capital Fled Overvalued Tech for Metals, Miners and Energy and Investment Managers Chased Higher After Tech Losses. Part 2 Coming!
The base case for 2027 is a rotation like the one that occurred in the 2000-2003 period, not a collapse in which every asset falls together like 2008. In 2000, money left expensive technology and telecom stocks and moved into metals, mining, and energy. The Nasdaq fell sharply. Gold, silver, and the companies that produce them actually rose significantly in the same period. In 2008 the backdrop was different. Credit froze, and almost every risk asset declined at the same time. When gold bounced back, it didn’t rise nearly as dramatically as it did in the earlier period. Today, many large-cap…
- THE STOCK MARKET DOESN’T BUY A HOUSE: A Generation Has Been Locked Out of the Old Path, Marriage and a Home Used to Move Together & What the Split Between Asset Prices and Real Life Actually Means!
The stock market can rise for years and GDP can post solid growth, yet neither one buys a house or puts a ring on a finger. The estimated share of 30-year-olds who are both married and homeowners has fallen from above 50% in the 1950s and 1960s to roughly 13% today. Let that sink in. That is not a minor delay. It is a generation locked out of the sequence that used to be ordinary. Now there are numerous factors dfor this, but marriage and a home used to move together for a large share of people by age 30. The chart above shows they no longer do. Home prices, borrowing costs, insurance, taxes…
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Data: Substack public leaderboards and publication archives, refreshed nightly, plus public beehiiv sitemaps and recommendation pages, refreshed weekly. Source for this page: Metals and Miners. Subscriber counts are Substack’s own rounded public figures, so week-on-week changes move in steps. beehiiv audience sizes are self-reported by the publisher and are not verified. Last snapshot: Nov 10, 2026.