Gold
There's a record $7.77 trillion sitting in money market funds. The people who own it think they're being safe. The central banks — who literally print the money — are buying gold at record pace. Here's the math nobody does.
tollbooth
Freeport-McMoRan is the world's largest publicly traded copper producer, operating the Grasberg mine in Indonesia — the world's largest copper and gold deposit — making it the dominant tollbooth on the metal most essential to grid electrification, data centers, and the energy transition. This analysis is part of
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VanEck Junior Gold Miners ETF targets small and mid-cap gold miners with higher growth potential and greater operating leverage than GDX's large-cap holdings, serving as the high-beta vehicle for investors seeking maximum upside during gold bull market accelerations. This analysis is part of Energy Macro’s ETF Monitor
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VanEck Gold Miners ETF is the benchmark gold mining ETF with over $15 billion in AUM, holding major producers like Newmont, Barrick, and Agnico Eagle — providing leveraged exposure to gold prices through miners whose profit margins expand as gold rises above all-in sustaining costs. This analysis is part of Energy
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Sprott Physical Gold Trust holds fully allocated gold bars stored at the Royal Canadian Mint with a unique redemption feature allowing large holders to take physical delivery — the preferred vehicle for investors who distrust custodial arrangements at major banks. What Is PHYS? The Sprott Physical Gold Trust holds physical gold
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iShares Gold Trust offers the same physical gold exposure as GLD at a lower 0.25% expense ratio, making it the preferred long-term accumulation vehicle for Energy Macro investors building strategic gold positions as a debasement hedge. What Is IAU? The iShares Gold Trust (IAU) is BlackRock's gold
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SPDR Gold Shares is the world's largest physically-backed gold ETF with over $75 billion in AUM and a 0.40% expense ratio, serving as the default institutional vehicle for portfolio debasement protection and central bank monetary policy hedging within the Energy Macro framework. What Is GLD? SPDR Gold