Why Gold Is Still Early in Its Bull Market | Michael Gentile

Video Description

Michael Gentile, founding partner of Bastion Asset Management and longtime mining investor, joins Kitco Mining at Xplor 2025 to discuss the next phase of the gold bull market, the outlook for silver and copper, and what comes next for junior miners. Gentile highlights the rise of central banks as long-term gold buyers, creating what he calls a “firm owner demand in gold that you haven’t had for 50 or 60 years.” He describes it as “a very long-term structural bull market for gold,” supported by consistent physical accumulation rather than short-term trading. As investors begin to mirror this shift, he believes allocations to gold could double or triple from current levels, noting that while central banks hold about 25% of their reserves in gold, private investors maintain only around 2.5% exposure, leaving significant room for growth. He also points to growing deficits in copper supply and government-driven investment themes like AI and national security, adding that Canada risks missing a “generational opportunity” to develop its resources. “We have the best geological advantage of any country in the world,” Gentile says, urging policymakers to accelerate development timelines and warning that the U.S. is “getting on the ship” while Canada risks watching it sail. After record profits for the majors, Gentile predicts that developers and junior resource equities will be the next to outperform. “It’s now the juniors’ turn to shine,” he says, forecasting a wave of M&A and new financing as investor capital flows further down the value chain. Don’t forget to subscribe to the Kitco Mining & Kitco News YouTube channels to stay up to date on the latest industry news and interviews. Special thanks to our sponsor, Radisson Mining Resources, for making this coverage possible 👉 To learn more, visit https://radissonmining.com/ 00:43 - Gold Market Analysis 06:53 - Silver Market Insights 12:19 - Copper Market Dynamics 19:21 - Junior Mining Sector Outlook 27:29 - Canada's Resource Potential and Geopolitical Implications __________________________________________________________________ Kitco Mining is dedicated to reporting on the mining industry. Our mandate is to be the top resource for all mining information and news, offering a clear perspective on where the industry is going through breaking news coverage, mining trends, and in-depth reporting, presented with precious, rare earth, base metals, and industry stock prices. Get important precious and base metal updates while on the go with the Kitco Gold LIVE! app - https://applications.kitco.com Stay connected with us X - https://x.com/KitcoMining Instagram - https://www.instagram.com/kitcomining LinkedIn - https://www.linkedin.com/company/kitco-mining Facebook - https://www.facebook.com/KitcoMining Connect with the Kitco Mining anchors Paul Harris - https://x.com/paulharrisgold For more in-depth mining coverage, visit us here - https://www.kitco.com/mining Disclaimer: Videos are not trading advice, and the views expressed may not reflect those of Kitco Metals Inc.