The Hermuz crisis has made energy security a national priority, and combined with AI/data center power demand and Qatar's LNG expansion disruption, natural gas and LNG are the biggest winners. Investing in US LNG companies is a major long-term opportunity.
Silver has been far more aggressively washed out than gold, with both speculative groups scoring near the bottom of their one-year ranges and commercials only lightly hedged, indicating little froth left to protect against. In contrast, gold still shows large specs heavily net long at 52% of open interest. Silver has already been through the storm, making it relatively more attractive for an upside recovery.