Tavi Costa: AI Is Creating a Massive Opportunity in Mining

Tavi Costa warns that rising Treasury yields, expensive stock valuations, and persistent inflation are creating a difficult situation for policymakers. He explains why attempts to suppress yields could benefit hard assets, why he sees the AI investment boom driving long-term demand for metals, and why mining stocks may offer a more attractive way to invest in that trend than technology companies. Costa also shares his outlook for oil, copper, gold, and silver.

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https://x.com/TaviCosta

https://tavicosta.substack.com/

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0:00 The Fed’s dilemma: inflation versus rising yields

1:57 Why higher Treasury yields threaten expensive stocks

6:16 Energy, agriculture, and persistent inflation

8:26 Why policymakers may struggle to fight inflation

11:35 Could yield curve control be the next step?

14:53 The growing divide between corporate earnings and employment

17:28 Why the AI revolution needs metals

21:52 Mining stocks versus technology valuations

23:23 What happens to miners if the AI bubble bursts?

30:17 Tavi’s outlook for oil and copper

32:27 Tungsten and the importance of project economics

35:11 Why silver miners have his attention

37:48 Why Tavi is buying gold miners instead of gold

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