Gold and Silver: Precious Metals on the Move – Sprott – 5.14.24

Summary:

Now On Demand

Both gold and silver have posted notable gains in 2024. Gold reached a new high of $2,420 in April, with strong support coming from central bank buyers like China looking for an alternative to the U.S. dollar. Silver appears to have formed a base at the $26 level. Demand for photovoltaic solar panels climbed to new highs in 2023 and has helped support the current silver prices.

Join us for an exclusive webcast which will discuss:

• We believe several fundamental factors are in place for gold to potentially move higher, particularly strong central bank buying.
• Gold mining equities continue to lag the yellow metal and are at historically low valuations.
• Silver is benefitting from its dual role as both a precious and industrial metal in the face of declining mine production.
• We see three primary drivers for a higher silver price: 1) silver tracks the rising gold price due to central bank buying, 2) reflation trade and 3) increased solar panel demand.

Speakers:

John Hathaway joined Sprott Asset Management USA, Inc. in January 2020. Mr. Hathaway is a Senior Portfolio Manager of Sprott Hathaway Special Situations Strategy and Co-Portfolio Manager of the Sprott Gold Equity Fund. Previously, Mr. Hathaway joined Tocqueville Asset Management L.P. in 1997 where he was a Co-Portfolio Manager of the Tocqueville Gold Fund as well as other investment vehicles in the Tocqueville Gold Equity Strategy. He was also the Portfolio Manager of private funds. Prior to joining Tocqueville, Mr. Hathaway co-founded and managed Hudson Capital Advisors followed by seven years with Oak Hall Advisors as the Chief Investment Officer in 1986. In 1976, he joined the investment advisory firm David J. Greene and Company, where he became a Partner. Mr. Hathaway began his career in 1970 as an Equity Analyst with Spencer Trask & Co. Mr. Hathaway earned a B.A. from Harvard College and an MBA from the University of Virginia. Mr. Hathaway was also the Chairman of Tocqueville Management Corporation, the General Partner of Tocqueville. He also holds the CFA^® designation.

Maria Smirnova has over 20 years of investment experience. She first joined Sprott Asset Management LP in 2005 as a research associate supporting the metals and mining team. She currently serves as Lead Portfolio Manager of a Sprott Sub-Advised Silver Equities Fund and Co-Portfolio Manager of another Sprott Sub-Advised Gold and Precious Minerals Fund. Maria is also a Portfolio Manager on the investment team for Sprott Gold Equity Fund (SGDLX). Prior to joining Sprott, Maria served as a Product Development Analyst at Fidelity Investments. Ms. Smirnova holds a Master of Business Administration degree and a Bachelor of Commerce degree from the Rotman School of Management, University of Toronto. She has been a CFA^® charterholder since 2002.

Ed Coyne* joined Sprott in January 2016 and has more than 25 years of investment management and sales experience. Mr. Coyne is the Host of Sprott Radio, a lively podcast series that provides in-depth intelligence on precious metals and energy transition investments, featuring subject matter experts.

Before joining Sprott, he was a Principal and Investment Specialist for 18 years at Royce & Associates, a small-cap value manager located in New York City and the investment adviser to The Royce Funds. Before joining Royce, Mr. Coyne worked with Zweig Mutual Funds and Neuberger Berman as a Regional Sales Director. He began his career at Reich & Tang, a provider of deposit, liquidity and cash management solutions for banks, broker-dealers, investment advisors, institutional investors and public entities. Mr. Coyne earned his Bachelor of Science in Architectural Studies from the University of Missouri. He also holds a Series 7 license, administered by Financial Industry Regulatory Authority (FINRA). *Edward C. Coyne is a Registered Representative of Sprott Global Resources Investments Ltd.