Rick Rule: Gold & Silver Stock Prices 'A Gift From God' - 'I'll Be Ludicrously Rewarded'

Although the Fed still controls short rates, the guest says it has "lost control" of long-term (10- and 30-year) yields — and if those long bond yields drift higher, that higher opportunity cost should pressure gold and other precious metals, making him expect gold and precious metals to trade sideways or underperform through the balance of 2026.

He highlights that the U.S. dollar is losing purchasing power at roughly an 8% compound rate and many bonds therefore pay negative real yields, while roughly $3 trillion of U.S. deposits earn no interest — facts he frames as part of the rationale for holding substantial physical gold and mining stocks over a 5–10 year horizon given precious‑metals allocations sit at about 0.5% of U.S. savings versus a four‑decade mean of 2%.

Silver is not yet a sector‑wide contrarian opportunity, but several individual silver miners trade below his NAV and the silver‑stock group he follows appears to be discounting roughly $37–$42 silver in a $55 world; he expects renewed silver-stock upside to follow renewed gold momentum and says any large payoff could take 2–3 years to materialize.

The listed uranium universe is small and volatile (roughly 120–130 names with only ~8–9 worth considering), so he benchmarks every company to the sector leader Cameco and recommends either a physical spot uranium trust or top operators rather than indiscriminate juniors; he also sees asymmetric long‑term upside in a leading operator (Cameco could fall ~25% on execution risk but could grow 3–5x if it monetizes its pipeline).