Metals and mining stocks are bottoming within our ideal target zones, helped by Tuesday's lower-than-expected CPI report.
July 15, 2026
Metals and mining stocks are bottoming within our ideal target zones, helped by Tuesday's lower-than-expected CPI report.
Some cycle lows develop quickly, producing sharp V-shaped recoveries. More often, however, the bottoming process unfolds over several weeks before a durable low is confirmed.
The bigger picture remains firmly constructive. We view the recent weakness in precious metals as just a pause within a multi-year bull market that we expect to continue into 2030–2031.
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