Episode
Metal Mania, Ep #80
- Podcast
- UPTHINKING FINANCE
- Published
- Mar 20, 2026
- Duration seconds
- 2766
- Processing state
not_requested- Canonical source
- https://upthinking-finance.captivate.fm
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Summary
In this episode, we’re joined by metals market experts from Aberdeen Investments, Bob Minter, Director of Investment Strategy, and Dan Magnusson, Senior Director of Mutual Fund Operations, to break down the dramatic movements in the precious and industrial metals markets over the past year. They take you through the cyclical history of gold, silver, platinum, palladium, and copper, exploring what’s behind their recent surges, shifting correlations, and the complex global forces at play. Bob and Dan demystify how rising geopolitical tensions, evolving central bank policies, and the global race for electrification are rewriting old market rules and opening new opportunities. You will want to hear this episode if you are interested in... 05:38 Palladium's role in auto standards 11:36 What has changed in correlations? 15:19 Gold bull market's key drivers 18:02 Silver supply struggles persist 21:06 China's electrification and infrastructure boom 24:38 Geopolitical shifts and market impact 29:36 Rethinking traditional portfolio strategies 36:18 Commodity cycles and inflation trends 40:24 Diversifying commodity investments From Stagnation to Sudden Growth The years 2011 to 2020 are sometimes dubbed the “lost decade” for precious metals, especially gold and platinum, as prices remained flat while the stock market soared. Historical price movements in gold were typically tied inversely to real interest rates. When interest rates rose (after adjusting for inflation), gold, which generates no income, tended to fall due to opportunity costs. However, this relationship broke down sharply in 2022 as gold rallied even as many ETF investors were selling, missing the underlying market shift. The drivers for “industrial” versus “precious” metals diverged as well. Silver, for instance, g…