Commodity Markets

Gold After Selling a Business: The Asset With No Cash Flow

September 10, 2026 · 13 min read

Gold produces no cash, so its entire return depends on what a later buyer will pay. After an exit it is best understood as insurance against a loss of trust in money — and judged as insurance, not by what it earns.

Copper: The Quiet Bottleneck Behind the AI Story

May 1, 2026 · 7 min read

Every megawatt, every mile of transmission, and every new data center runs through copper. As AI’s power needs collide with physical reality, the metal at the center of electrification is repricing — and long-term investors are paying attention.