“There’s No Bubble in Metals. The Bubble Is the Dollar” | Willem Middelkoop
Willem Middelkoop, founder and CEO of Commodity Discovery Fund, says the metals bull market reflects a structural shift driven by currency debasement and rising geopolitical risk. Speaking with Kitco Mining at the 2026 Vancouver Resource Investment Conference, Middelkoop rejected the idea that metals are in a bubble. “There’s not a bubble in the metals. There’s a bubble in the dollar,” he said.
Middelkoop said silver stands out due to persistent supply constraints and the risk of a short squeeze, while mining equities continue to lag physical metals. He noted that silver producers are trading…
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