Gold Mining Stocks Offer Bigger Gains Than Gold Itself

Gold prices have surged to a 14-year high, but investors may be missing out on even bigger gains in gold mining stocks. A recent whitepaper from Rational Equity Asset Management argues that the companies behind the metal's extraction are where the real money is being made.

The report points to a World Gold Council survey of reserve managers, which found that 84% expect gold to make up a larger share of global reserves in five years. China's central bank has also been buying up bullion, cutting its US Treasury holdings to a 25-year low.

Meanwhile, silver is facing a supply deficit for the sixth straight year, with above-ground stockpiles shrinking by 762 million ounces since 2021. But a new demand driver may be emerging: AI data centers could consume over 42 million ounces of silver per year by 2027.