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Hundreds of political prisoners in Venezuela, including opposition leaders, journalists and human rights activists, could soon be freed under an amnesty bill that the country’s acting president announced on Friday. 

The move represents the latest concession Venezuela’s acting President Delcy Rodríguez has made since the Jan. 3 capture of the country’s former leader Nicolás Maduro by the U.S.

Rodriguez told a group of justices, magistrates, ministers, military brass and other government leaders that the National Assembly, which is controlled by the ruling party, would promptly take up the bill, The Associated Press reported.

‘May this law serve to heal the wounds left by the political confrontation fueled by violence and extremism,’ she said in the pre-taped televised event, according to the AP. ‘May it serve to redirect justice in our country, and may it serve to redirect coexistence among Venezuelans.’

Rodriguez said the amnesty law would cover the ‘entire period of political violence from 1999 to the present,’ and that those incarcerated for murder, drug trafficking, corruption or human rights violations would not qualify for relief, the AP reported.

In addition to the amnesty law, Rodriguez announced the shutdown of Venezuela’s notorious El Helicoide prison in Caracas. Torture and other human rights abuses have been repeatedly documented at El Helicoide. The facility is set to be transformed into sports, social and cultural center, according to reports.

Alfredo Romero, the head of Foro Penal, Venezuela’s leading prisoner rights organization, welcomed the legislation while expressing some skepticism.

‘A General Amnesty is always welcome as long as its elements and conditions include all of civil society, without discrimination, that it does not become a blanket of impunity, and that it contributes to the dismantling of the repressive apparatus of political persecution,’ Romero said in a post on X.

Relatives of some prisoners livestreamed Rodríguez’s speech on a phone as they gathered outside Helicoide, according to the AP.

Opposition leader and Nobel Peace Prize laureate María Corina Machado said in a statement that the moves were not made ‘voluntarily, but rather in response to pressure from the US government,’ the AP reported. She also reportedly noted that people detained for their political activities have been held for anywhere between a month and 23 years.

Foro Penal estimates there are 711 political prisoners held in Venezuela, 183 of whom have been sentenced, the AP reported. The outlet identified prominent members of the opposition who were detained after the 2024 election and remain in prison as former lawmaker Freddy Superlano, Machado’s lawyer Perkins Rocha, and Juan Pablo Guanipa, a former governor and one of Machado’s closest allies.

On Friday evening, Venezuela released all known American citizens being held in the country.

‘We are pleased to confirm the release by the interim authorities of all known U.S. citizens held in Venezuela,’ the U.S. embassy wrote on X. ‘Should you have information regarding any other U.S. citizens still detained, please contact American Citizen Services.’

The Associated Press and Fox News Digital’s Louis Casiano contributed to this report.

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The U.S. State Department late Friday announced it had approved two arms sales to Israel and Saudi Arabia worth $6.67 billion and $9 billion.

The sales come as the Trump administration moves forward with its peacekeeping plan in Gaza and amid the threat of U.S. military strikes in Iran.

Thirty Apache helicopters with rocket launchers make up the largest part of the sale to Israel, along with 3,250 light tactical vehicles, power packs for armored personnel carriers and a number of light utility helicopters.

The State Department said the sale would ‘enhance Israel’s capability to meet current and future threats by improving its ability to defend Israel’s borders, vital infrastructure and population centers.’

‘The United States is committed to the security of Israel, and it is vital to U.S. national interests to assist Israel to develop and maintain a strong and ready self-defense capability,’ it said.

Saudi Arabia will receive 730 Patriot missiles and related equipment that ‘will support the foreign policy and national security objectives of the United States by improving the security of a major non-NATO ally that is a force for political stability and economic progress in the Gulf Region,’ the department said.

‘This enhanced capability will protect land forces of Saudi Arabia, the United States and local allies and will significantly improve Saudi Arabia’s contribution’ to the integrated air and missile defense system in the region.

On Thursday during a Cabinet meeting, President Donald Trump and his Middle East envoy, Steve Witkoff, said they believe Hamas will disarm under a U.S.-backed Gaza ceasefire plan as it enters its second phase.

But regional analysts have warned the terror group has no intention of disarming and could even block Trump’s Gaza plan altogether.

‘Hamas will do all the possible and creative maneuvers and manipulations in order to keep its power and influence in the Gaza Strip,’ professor Kobi Michael, a senior researcher at the Institute for National Security Studies and the Misgav Institute, told Fox News Digital.

‘The Israel Defense Forces are the only entity that can disarm Hamas.’

Fox News’ Emma Bussey and the Associated Press contributed to this report. 

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As President Donald Trump weighs his options on a possible military strike on Iran, a senior Gulf official told Fox News Saudi Arabia will not allow the U.S. to use its airspace or bases for such an attack.

A high-ranking government figure from a Gulf Cooperation Council (GCC) state told Fox News that the ‘U.S. hasn’t shared objectives or plans’ regarding Iran with Gulf allies despite recent high-level Saudi meetings in Washington aimed at gaining clarity.

‘We said this as friends, [we] want to make sure they understand our position and our assessment in general. And we want to understand the U.S. assessment with as much clarity as possible,’ the senior official said. ‘I’d like to get full clarity, and we did not get there.’

Regarding U.S. military movements for a strike on Iran, the official said, ‘The plan is something other than using Saudi airspace.’

The official said the U.S. is welcome in Saudi Arabia, especially regarding Operation Inherent Resolve, the ongoing U.S.-led campaign against ISIS. Yet, the Saudi position now is ‘consistent’ with what it was during the 12-day conflict between Israel and Iran in April 2024, the official said.

‘Saudi Arabia wouldn’t allow airspace to be used to target Israel, Houthis, Iran. The position is the same now. Saudi Arabia wouldn’t allow airspace to be used in a war Saudi Arabia is not a part of,’ the official said.

Trump said Friday that the United States has directly communicated expectations to Iran as pressure mounts for Tehran to accept a nuclear deal, even as Iranian officials publicly signal interest in talks.

Asked whether Iran faces a deadline to make a deal, Trump suggested the timeline had been conveyed privately. 

‘Only they know for sure,’ he said when pressed that the message had been delivered directly to Iranian leaders.

Trump also tied the growing U.S. naval presence in the region explicitly to Iran, saying American warships ‘have to float someplace’ and ‘might as well float near Iran’ as Washington weighs its next steps.

Despite the president’s words that Iran wants to make a deal, the official cautioned that ‘Iran always wants to make a deal, but the question is what kind of deal? Is it acceptable to the U.S.?

‘We don’t see it coming together at this moment,’ the official said. ‘Everybody knows the U.S. is bringing capabilities to the region in general to deal not with whatever the plan is but whatever the ramification of the plan is.’

Regarding the success of future U.S. actions in Iran, the official said, ‘There is always a problem whether you make a decision or don’t. There’s a balance of … future in the Middle East. We advise the U.S. on a better outcome at the end, using all means, including diplomatic means, and advise Iranians too. … We understand that we’re all in this — the U.S., Iran and others — and we hope for better results.’

The official said that, in the Gulf allies’ assessment, the Trump administration’s strikes on Iran’s nuclear assets heavily degraded their capabilities so that they are ‘not in the same situation as before.’

That being said, they believe an ‘off ramp could be reached by Iranians doing the right thing.’

‘We want a prosperous country that supports their people. That’s what we think we should all be doing. Iran has real economic potential, energy. A lot of talent in Iran and especially abroad who live in other countries. … There’s a way to get out of it, and Iran could be a very constructive actor in the region and important actor in the region. I hope that they get there because the Iranian people deserve a lot.’ 

Though the U.S. has not shared its objectives or plans, the source said, ‘I hope that outcome is for a more stable Middle East, more prosperous.’

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A Panamanian court has voided a port contract held by a Hong Kong subsidiary, prompting assurances from President José Raúl Mulino that canal traffic will not be disrupted.

The court ruled Thursday that the port concession granted to Panama Ports Company — a subsidiary of Hong Kong’s CK Hutchison Holdings — was unconstitutional. 

The decision was welcomed by the U.S. and criticized by Beijing, according to The Associated Press.

‘Beijing plays rough. Trump plays rougher,’ China expert Gordon Chang told Fox News Digital in an email. ‘The American president just showed the Chinese who’s boss in the Western Hemisphere.

‘President Trump, by extracting Nicolás Maduro and his wife from Caracas, ended Chinese influence in Venezuela,’ Chang added. ‘With the termination of the Hutchison port concessions in Panama, countries are getting the message that Trump is determined to drive China out of the region and that they should get on board with the American president.’

Mulino said Friday that port operations at both ends of the canal will continue as the ruling is carried out, adding that Panama’s Maritime Authority will work with Panama Ports Company to keep the ports running, the AP reported.

Once the concession is formally terminated, Mulino said, a local subsidiary of Danish shipping giant A.P. Moller-Maersk will temporarily operate the ports while the government opens a new bidding process for a long-term concession.

The court decision followed an audit by Panama’s comptroller that identified irregularities in a 25-year extension of the concession granted in 2021, according to the AP.

The ruling aligns with long-standing U.S. concerns over China’s presence near the Panama Canal. 

Limiting Beijing’s influence in the region has been a priority of the Trump administration, and Panama was the first overseas stop this year for U.S. Secretary of State Marco Rubio, the AP reported.

‘The United States is encouraged by the recent Panamanian Supreme Court’s decision to rule port concessions to China unconstitutional,’ Rubio posted to X on Friday.

Panama Ports Company said it has not been formally notified of the ruling and argued it lacks legal basis, warning it could harm thousands of Panamanian families and undermine legal certainty. The Hong Kong government also rejected the ruling, according to the AP.

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Speaker Mike Johnson, R-La., urged House Republicans on a lawmaker-only call to rally behind President Donald Trump after the commander in chief struck a deal with Senate Democrats to avert a prolonged government shutdown, Fox News Digital was told Friday evening.

The top House Republican admitted to being ‘frustrated’ by the result, sources told Fox News Digital, but he lauded Trump’s deal-making ability and called for lawmakers to back the president’s decision.

The Senate passed a revamped government funding deal Friday that will set the federal budget through the end of the fiscal year Sept. 30, save for the Department of Homeland Security (DHS).

It comes after Democrats walked away from a bipartisan plan to fully fund the federal government over demands for stricter guardrails on Immigrations and Customs Enforcement (ICE) than what the initial House-passed package included.

Johnson told House Republicans he went to the White House Wednesday to lay out his arguments for sticking to the initial plan and warned, ‘Opening the Pandora’s Box of amending this thing could be a dangerous prospect,’ sources said.

Trump nevertheless struck an agreement with Senate Democrats. 

Fox News Digital was told that Johnson conceded, ‘The president has made a play call, and we have to support him on it.’

The initial bipartisan DHS bill included guardrails for ICE, such as mandating body-worn cameras and training for public engagement and de-escalation. But Democrats are now demanding significantly more after a second deadly shooting of a U.S. citizen by federal law enforcement during demonstrations against Trump’s immigration crackdown in Minneapolis.

The new deal struck with Democrats would only extend current DHS funding levels for two weeks to keep other critical agencies under the department’s purview funded while new bipartisan negotiations on immigration enforcement play out.

Multiple Republican lawmakers have both publicly and privately expressed concern about the deal, arguing it could potentially give Democrats more ability to constrain the administration. 

One House Republican voiced such concerns on the lawmaker-only call on Friday, Fox News Digital was told. Johnson, according to sources, agreed he was ‘frustrated … but I’ve got to tip my hat to the president. He knows the art of the deal.’

Johnson told House Republicans that Trump now needed their support to ‘navigate the next two weeks’ of deal-making with Democrats.

Trump said on Truth Social of his deal with Democrats, ‘I am working hard with Congress to ensure that we are able to fully fund the Government, without delay. Republicans and Democrats in Congress have come together to get the vast majority of the Government funded until September, while at the same time providing an extension to the Department of Homeland Security (including the very important Coast Guard, which we are expanding and rebuilding like never before).’

Sources said the speaker did sound optimistic about Republicans still having leverage in the talks, however. Johnson noted that ICE had already been funded under Trump’s ‘big, beautiful bill’ and that it would be offices like the Transportation Security Administration (TSA) and Federal Emergency Management Agency (FEMA) that would run low on funds.

Sources said Johnson said of Democrats, ‘We can hang that on their necks.’

The House is expected to take up the legislation by Monday evening.

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Senate Republicans and Democrats cut through partisan rancor and sent a retooled government spending package to the House Friday evening after President Donald Trump struck a deal to sate Democrats’ demands. 

Though lawmakers were able to advance the revamped five-bill package without the controversial Department of Homeland Security (DHS) funding bill and a two-week funding extension to keep the agency afloat, a partial government shutdown is all but guaranteed after the 71-29 vote.

That’s because modifications to the package and the inclusion of a short-term continuing resolution (CR) for DHS must be approved by the House. And lawmakers in the lower chamber aren’t scheduled to return to Washington, D.C., until early next week. 

Schumer and his caucus are determined to get a series of extra reforms attached and dropped three categories of restrictions on Immigration and Customs Enforcement (ICE) on Wednesday that many Republicans have balked at.

‘These are not radical demands,’ Schumer said on the Senate floor. ‘They’re basic standards the American people already expect from law enforcement. I hope we can get voting quickly here in the Senate today so we can move forward on the important work of reining in ICE. The clock is ticking.’

Democrats argued that the tweaks were common sense and geared toward reducing further incidents during immigration operations around the country after two fatal shootings by federal agents in Minneapolis this month. 

‘This is not like some wish list,’ Sen. Tina Smith, D-Minn., said. ‘This is, like, really practical, commonsense stuff that would actually go a long way towards minimizing the harm that we’re seeing in Minnesota.’

Among the most difficult requests is the requirement of judicial warrants, rather than administrative warrants, for ICE agents to make arrests. 

Sen. Eric Schmitt, R-Mo., argued that while Republicans didn’t want to have a government shutdown, they wouldn’t legislate ‘stupid s—‘ into the DHS bill. 

‘We’re not, like, telling [ICE] they need judicial warrants when they already have administrative warrants,’ Schmitt said. ‘We’re not doing that.’

Successfully moving the bill from one chamber to the other was not an easy lift for Republicans. A cohort of Senate Republicans pushed back against the underlying, original package because of the billions in earmarked funding it included. 

And Sen. Lindsey Graham, R-S.C., was enraged over the House’s decision to include a repeal of a provision that would allow senators, like himself, to sue for up to $500,000 if they had their phone records subpoenaed by former special counsel Jack Smith as part of his Arctic Frost probe. 

‘You jammed me, Speaker Johnson. I won’t forget this,’ Graham said. ‘I got a lot of good friends in the House. If you think I’m going to give up on this, you really don’t know me.’

He demanded votes on expanding the number of people and organizations who were affected by Smith’s Arctic Frost probe who can sue, along with a vote on his legislation that would criminalize the conduct of officials who operate sanctuary cities. 

But he didn’t tee them up for an amendment vote, instead contending he’d be OK with floor action after the two-week CR lapsed. 

Moving the package through the House could be a heavier lift than expected.

House Speaker Mike Johnson, R-La., expected the earliest he could move on the package was by Monday, three days into the partial shutdown, given that lawmakers are away from Washington, D.C., until next week. 

One House GOP source suggested to Fox News Digital that passing the legislation under suspension of the rules could be a pathway to success because it would fast-track the bills past a House-wide procedural hurdle called a ‘rule vote’ that normally falls along party lines.

But that would require raising the threshold for passage from a simple majority to two-thirds, meaning a significant number of Democrats would be needed for the bills to proceed.

That does not appear to be the route House leaders are taking, however, at least for now. Two other sources told Fox News Digital Friday morning that the House Rules Committee is expected to meet for a rare Sunday hearing to consider the bill. 

The House Rules Committee is the final gatekeeper before most legislation gets a chamber-wide vote, meaning its advancement of the package Sunday could set up further action as early as Monday.

House Republican resistance to the modified package, particularly the DHS CR, has already fomented among members of the House Freedom Caucus.

House Freedom Caucus Chair Andy Harris told Fox News Digital ‘the Democrats’ desire to keep millions of illegal aliens in the United States will not suddenly disappear in a week or a month with a continuing resolution.’

‘Delaying full year funding for the Department of Homeland Security any further is a bad idea,’ Harris said. 

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Here’s a quick recap of the crypto landscape for Friday (January 30) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ether price update

Bitcoin (BTC) was priced at US$83,812.01, down by 0.4 percent over 24 hours.

Bitcoin price performance, January 30, 2025.

Bitcoin price performance, January 30, 2025.

Chart via TradingView.

“From my personal perspective, the market is currently undergoing a necessary rebalancing phase. The previous strong rally had, to some extent, run ahead of prevailing monetary conditions, making a corrective phase necessary to realign prices with the broader macroeconomic backdrop. This process is healthy, as it helps flush out excessive leverage and FOMO-driven behavior—factors that often destabilize long-term trends.

“Over the medium to long term, I believe BTC will continue to benefit from a gradual shift in confidence away from traditional monetary systems and from the growing need for asset diversification in an increasingly uncertain macroeconomic environment. Corrections like the current one should therefore be viewed as an inherent part of market dynamics, rather than as a signal that the broader trend has come to an end.”

Ether (ETH) was priced at US$2,688.63, down by 4.3 percent over the last 24 hours.

Altcoin price update

  • XRP (XRP) was priced at US$1.74, down by 3.4 percent over 24 hours.
  • Solana (SOL) was trading at US$116.99, trading flat over 24 hours.

Today’s crypto news to know

US Senate panel advances crypto market structure bill

A US Senate committee pushed the crypto market structure bill forward this week, marking the furthest the industry’s flagship policy effort has ever advanced in the chamber.

The legislation cleared the Senate Agriculture Committee on a narrow 12–11 vote, split strictly along party lines after Republicans chose to move ahead without Democratic backing.

Committee Chair John Boozman said months of negotiations had produced “significant progress,” arguing the bill was ready for its next stage despite unresolved disputes. Democrats opposed the markup as a bloc, warning the current text falls short on ethics safeguards and consumer protections.

Despite the progress, Ranking Democrat Amy Klobuchar said negotiations are not over and signaled openness to further talks as the bill advances. One of the sharpest flashpoints remains restrictions on senior government officials profiting from crypto ventures, an issue Democrats want written directly into the law.

The bill must still clear the Senate Banking Committee, where disagreements over stablecoin yield and regulatory scope have already delayed progress. Any final version would also need to reconcile differences with the House-passed bill before heading to the Senate floor.

SEC, CFTC launch joint push to unify crypto oversight

The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) recently unveiled a joint initiative aimed at aligning rules for digital asset markets.

Speaking at CFTC headquarters, SEC Chair Paul Atkins said fragmented regulation has created confusion rather than protection for investors.

The effort, dubbed Project Crypto, is intended to reduce uncertainty over whether digital assets fall under securities or commodities law.

CFTC Chair Michael Selig said unclear jurisdiction has pushed innovation offshore, leading to firms exhibiting reluctance in US investment without regulatory clarity.

Binance converst US$1 billion SAFU to BTC

Binance announced it will convert the US$1 billion in stablecoin reserves held in its Secure Asset Fund for Users (SAFU) entirely into BTC over the next 30 days.

The decision, outlined in a letter published Friday, aims to support the crypto industry and reflects Binance’s belief in bitcoin’s long-term value. SAFU was established to protect users from unexpected losses.

To manage BTC’s potential volatility, Binance will conduct regular audits and rebalance the fund. Specifically, if the fund’s market value drops below US$800 million due to BTC price fluctuations, Binance will restore its value to US$1 billion.

Kraken‑backed SPAC raises US$345 million in upsized Nasdaq IPO

KRAKacquisition Units, a Kraken-backed SPAC, raised US$345 million in an upsized Nasdaq IPO, selling 34.5 million units at US$10 each.

Each unit includes one common stock share and a quarter-warrant exercisable at US$11.50. Sponsored by Kraken, Tribe Capital and Natural Capital, the SPAC will target digital-asset economy infrastructure businesses, such as payment rails, tokenization platforms, blockchain infrastructure and compliance services.

Santander US Capital Markets led the deal, signaling a reopening of the US crypto-linked IPO market. This SPAC is a capital-raising and strategic move for Kraken, which confidentially filed for its own standalone IPO last year.

Nubank wins conditional US approval to form national bank

Nu Holdings received conditional approval from the US OCC to form a new national bank, Nubank, N.A., advancing its US expansion. The conditional charter allows Nubank to offer deposit accounts, credit cards, lending, and digital-asset custody services under a federal banking framework, pending full approvals.

Nu is now in the “bank organization” phase, needing to meet OCC conditions and gain approval from the FDIC and Federal Reserve, committing to full capitalization within 12 months and operations starting within 18 months.

Nu co-founder Cristina Junqueira will lead US operations, with former Central Bank of Brazil president Roberto Campos Neto as board chair.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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Optimism was building at last year’s Vancouver Resource Investment Conference (VRIC), with fresh capital flowing back into the mining sector, lifting project financings and investor portfolios alike.

This year’s VRIC, which ran from January 25 to 26, saw that optimism tip into outright exuberance.

Record-breaking gold and silver prices drew a larger, more diverse crowd, while speakers openly compared the current market to the great bull runs of the late 1970s and early 1980s.

Yet beneath the enthusiasm, a note of caution emerged. While few questioned the strength of the rally, debates centered on whether the move is still in the early innings or edging closer to bubble territory.

Gold, silver and the need to take profits

Precious metals were front and center throughout VRIC.

The price of gold crossed the US$5,200 per ounce mark during the show, and silver’s incredible run peaked at US$116 per ounce, gaining more than 250 percent since January 2025.

Over the past couple of years, gold’s shine has been brought about by significant central bank buying. Considered the ultimate buy-and-hold participants, these entities have been acquiring large quantities of gold for several reasons, including runaway global debt and concerns over the weaponization of the US dollar.

Central bank purchases, along with geopolitical and financial uncertainty, have helped to revive a beleaguered retail segment, effectively pouring gasoline onto the fire.

For silver, structural shortages that have developed over the past several years came into focus and were exacerbated by a surge of investors seeking a cheaper physical asset alternative to gold.

Flashpoints in the Middle East, a simmering trade war driven by tariff threats, disrupted supply lines and currency devaluation have also helped bring the monetary aspects of gold and silver to the forefront.

In the 2026 ‘Gold Forecast’ panel at VRIC, Gold Royalty (NYSEAMERICAN:GROY) Chair and CEO David Garofalo explained why precious metals were one of the best-performing asset classes last year.

“Gold has been a one-way trade for 50 years … the purchasing power of our dollars has gone down 99 percent over that period of time. The negative correlation between the gold price and the purchasing power of our underlying currencies is undeniable,” he said, adding that “gold can only go in one direction.”

Garofalo added that the debt-to-GDP ratio rose to 350 percent in 2025 from 100 percent in the 1970s, creating a “ticking time bomb” that leaves central banks with no wiggle room to raise interest rates. “Gold can only go in one direction in that market because there is a limited supply of gold. Gold can’t be printed,” Garofalo said.

With those circumstances in mind, how high can gold and silver prices go? There were differing perspectives throughout the conference on whether precious metals are in a bull market or a bubble.

At the ‘This Isn’t Our First Bull Market’ panel, Ross Beaty, Equinox Gold (TSX:EQX,NYSEAMERICAN:EQX) chair and Canadian Mining Hall of Famer, was one of those who suggested the market is in a bubble.

He also compared the state of the market to the late 1970s and early 1980s, and spoke about how gold went above US$700 per ounce before crashing to US$250 an ounce in a matter of months. “You only know you’re at the top after the fact. From my standpoint today, it is. It’s a bubble, it’s a frothy market,” Beaty said.

Fellow panelist Rick Rule, proprietor at Rule Investment Media, didn’t go so far as to say the market is in a bubble, but did point out that even in a strong bull market, there are risks.

He pointed out that in 1975, as the gold bull market was running, the gold price fell by half.

Both speakers suggested there is still upside in the market, but acknowledged that now is a good time for investors to take some profits. For his part, Beaty was blunt in his advice.

“It is time to take some money off the table. I think probably not all, because I think we have more room to run, but we’re not in the early innings of this game, we’re in the late innings,” he said.

Rule’s approach was more one of preparation, especially for less experienced investors.

“If you aren’t financially and psychologically prepared to deal with 30 or 35 percent declines, or 50 percent declines, you really have to get some money in the bank now, because you’re going to experience that,” Rule said.

During VRIC, Rule also spoke about how he recently sold off 25 percent of his junior mining portfolio, noting, “I sold off 25 percent of my upside, and I eliminated 100 percent of my downside.”

Copper, uranium and the AI bubble

If industry stalwarts like Beaty, Rule and Garofalo are suggesting it’s time to take some money off the table, were there any suggestions where to look next?

On the gold panel, Incrementum AG Managing Partner and Fund Manager, Ronald-Peter Stöferle gave insight that his fund had cycled funds from precious metals into other areas of the resource sector.

“We reallocated some capital, took some profits, because the risk has been too dominant and reallocated into oil, into copper, into uranium,” he said.

What’s become more apparent over recent years is the growing need to add gigawatts to the electrical grid. To meet growing demand, electricity must be generated, and uranium is increasingly used as a fuel. However, delivering it requires infrastructure, and copper remains one of the best ways to do so.

However, both copper and uranium have demand exceeding supply.

While copper has been in balance over the last couple of years, incidents at Freeport-McMoRan’s (NYSE:FCX) Grasberg mine and Ivanhoe’s (TSX:IVN,OTCQX:IVPAF) Kamoa-Kakula mines tipped the market into supply deficits in 2025, and it’s likely to stay there for some time.

Both copper and uranium have been increasingly tied to the artificial intelligence (AI) revolution.

At the ‘Copper Forecast’ panel, Independent Speculator Editor Lobo Tiggre noted the connection but pointed out that underlying fundamentals beyond AI continue to make the case for investing in copper and uranium. He noted that the release of Chinese AI DeepSeek affected Western equities tied to the AI boom.

“If you think it (AI) is a bubble, remember what happened in the DeepSeek moment. Copper wobbled, uranium wobbled … The good news, in my view, is that means that whenever the next wobble comes, there’s potentially a buying opportunity, given the fundamentals we’re talking,” he said.

The fundamentals are that AI and data centres are just additional demand. Through several of his appearances, Rick Rule noted that there are a billion people on the planet who don’t have access to reliable electricity.

Additionally, global infrastructure needs to be upgraded as more people rely on electricity for a wider range of uses, including EVs. However, there are only a few new mines on the horizon, and not enough to meet baseline demand.

Ivan Bebek, CEO and chair of Coppernico Metals (TSX:COPR,OTCQB:CPPMF), said on the copper panel that all the easy copper deposits have been found.

“Copper mines are hidden behind geopolitical boundaries, social issues or undercover. They’re mined, and all the easy ones have been found. Look at the chart I presented earlier, and it shows the decline basically falls off a cliff in 2015. There hasn’t been any major copper discovery of consequence since then,” he said.

It’s not just a lack of discovery; copper mines require significant capital investment and can take decades to complete permitting.

Likewise, uranium is in a similar boat. Although it’s far from its US$140 per pound high in 2007, uranium has solid supply and demand fundamentals and has significant upside potential.

In his fireside chat, Uranium Energy (NYSEAMERICAN:UEC) CEO Amir Adnani said that he expects uranium prices to continue to increase.

“The uranium price has no business hanging around under US$100 per pound. The uranium price should be doing what silver and gold are doing. It will do that, in my opinion, because it is fundamentally in a structural deficit,” he said.

Adnani pointed to a cumulative shortage of 379 to 840 million pounds over the next 10 to 15 years, and stated it should be at least US$1,000 per pound. He noted that both China and the US have designated uranium a critical mineral, with the US even establishing a strategic reserve.

Investors are faced with choices

With consensus at the conference that AI is a bubble that’s ready to burst, the overall fundamentals for copper and uranium remain strong even without it.

As for precious metals, given the strain on global financial systems in recent years, and uncertainty when it comes to US debt loads and a weakening US dollar, they should still hold a place in an investor’s portfolio.

However, as many at the conference suggested, the time to take profits is before the peak, not after investors look back on it.

Though some suggest cycling that money into other equities to take advantage of copper and uranium, there was also the suggestion that holding cash can be a good thing, remaining liquid and ready to take advantage of pullbacks and corrections in the market.

Securities Disclosure: I, Dean Belder, hold an investment interest in Equinox Gold.

This post appeared first on investingnews.com

Ross Beaty of Equinox Gold (TSX:EQX,NYSEAMERICAN:EQX) and Pan American Silver (TSX:PAAS,NASDAQ:PAAS) shares his thoughts on gold and silver’s record-setting runs.

While high prices are exciting, he noted that even US$50 per ounce silver is good for miners.

‘At the end of the day, there’s still great value in the silver equities,’ Beaty said.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Did gold and silver just experience a blow-off top, or do they have more room to run?

Lobo Tiggre, CEO of IndependentSpeculator.com, shares his thoughts on what’s going on with the precious metals, and how investors may want to position.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com