Ideas
Bearish U.S. equities except resources.
Peter took a very bearish position on U.S. equities after the election because Trump's hard trade stance backfired, the U.S. is losing global leadership, an economic slowdown is appearing, S&P 500 earnings growth will be hard to achieve, the Fed put is in question, and wealthy investors are moving away from U.S. assets. He has no exposure to general U.S. stocks except resource-related names.
Gold to $5,000 on central-bank buying.
Gold is becoming the ultimate currency and monetary asset as the dollar and bonds lose safe-haven status; central banks keep buying and repatriating gold, physical demand is strong, and after a necessary correction he sees gold eventually reaching $5,000 and new highs.
Favor resource-related stocks.
He has no exposure to general U.S. stocks except resource-related companies, which are the area he favors as metals and commodities benefit from inflation, supply constraints, and non-U.S. demand.
China, Asia, Singapore over U.S.
The U.S. is becoming less attractive while China, Asia, and Singapore benefit from a shift in global economic power and trade relationships; he finds these markets more attractive than the U.S.
Oversold bounce in dollar, stocks, bonds.
The dollar, S&P 500, and bonds were extremely oversold at critical support, so Peter called for a significant countertrend rally, though he said it would not last very long.
Dollar falls toward 89.990.
The dollar is in a secular decline as the U.S. loses global leadership; after the oversold bounce, he expects DXY to break support and fall to the 89.990 area, another 10% or more decline later in the year.
Gold miners have much more upside.
Major gold producers are generating massive free cash flow, S&P 500 earnings growth is scarce, and generalists will rotate into gold producers; he expects GDX and GDXJ to go much higher before any meaningful top.
Gold miners have much more upside.
Mid-size gold producers will merge and majors will make strategic investments and private placements into mid-size and junior explorers because balance sheets are healthier and costs are falling; advanced exploration companies are seeing corporate interest.
Silver can lead gold higher.
He upgraded silver to equal terms with gold because fundamentals improved, manipulation has capped it, the gold/silver ratio is extreme, and silver could lead gold and break $35-$36 resistance toward much higher prices later this year.
Copper supply squeeze drives prices higher.
Copper is his favorite metal this year because supply is constrained by neglected exploration, falling grades, rising costs, and difficult jurisdictions; the market is no longer amply supplied, and prices above $5 are needed to incentivize major new development.
Bullish uranium again after prior exit.
After exiting near the top, Peter has turned bullish on uranium again as part of the broader metals complex, expecting more upside before the group reaches a major top.
Copper-gold miners deserve premium valuations.
Companies with a significant copper and gold mix should command premium valuations because Barrick and others are shifting toward copper-gold projects and because both metals have bullish supply/demand setups.
Inflation and stagflation favor commodities.
Inflation is higher than official data and the Fed's 2% target is unrealistic because de-dollarization, deglobalization, and the end of cheap labor remove disinflationary forces; higher inflation and stagflation are bullish for commodities in general.
Housing unaffordable; avoid real estate.
Record housing unaffordability, high interest rates, and refinancing pressures make the real estate market unattractive in both the U.S. and Canada.
Avoid long Treasuries, prefer T-bills.
Treasuries have lost their de facto safe-haven role because of U.S. debt sustainability concerns and a massive refinancing wave; longer-term debt will be harder to finance than shorter-term debt, so money should stay closer to T-bills.
Avoid long Treasuries, prefer T-bills.
Treasuries have lost their de facto safe-haven role because of U.S. debt sustainability concerns and a massive refinancing wave; longer-term debt will be harder to finance than shorter-term debt, so money should stay closer to T-bills.
Hold significant cash for protection.
In a capital-protection environment, cash should be a significant holding to preserve purchasing power rather than chase capital appreciation.
Crypto bubble likely topping.
He is not a believer in general cryptos including Bitcoin; many cryptos are overpriced, memecoins will go to zero, and Bitcoin is in a major topping formation and acts like a speculative tech stock, so if the tech bubble is over the crypto bubble is over. He does not recommend clients hold real assets in crypto.
Crypto bubble likely topping.
He is not a believer in general cryptos including Bitcoin; many cryptos are overpriced, memecoins will go to zero, and Bitcoin is in a major topping formation and acts like a speculative tech stock, so if the tech bubble is over the crypto bubble is over. He does not recommend clients hold real assets in crypto.
This The David Lin Report video, published April 25, 2025,
features Peter Grandich
discussing SPY, GLD, XME, FXI, AAXJ, EWS, UUP, DXY, GDX, GDXJ, SILVER, COPPER, URA, Copper-gold mining companies, DBC, XLRE, Canada real estate, TLT, BIL, CASH, BTC, Cryptocurrencies, MEMECOINS.
19 trade ideas extracted by AI with direction and confidence scoring.
Speakers:
Peter Grandich
· Tickers:
SPY,
GLD,
XME,
FXI,
AAXJ,
EWS,
UUP,
DXY,
GDX,
GDXJ,
SILVER,
COPPER,
URA,
Copper-gold mining companies,
DBC,
XLRE,
Canada real estate,
TLT,
BIL,
CASH,
BTC,
Cryptocurrencies,
MEMECOINS
