Sprott: Top 10 Themes For 2025

2025 starts off as a continuation of 2024. That bodes well for some commodities, particularly precious metals and uranium. Gold just beat out the S&P 500 in 2024, soaring about 25%. That’s the metal’s best annual performance in 14 years.

Meanwhile, the rollout of AI has led to a resurgence of demand for nuclear power. That, in turn, has pushed uranium higher. That’s another trend still in its early stages with more room to run.

Meanwhile, commodities such as copper have a murkier outlook. Copper plays well to global economic growth. But a slowing economy in China, the world’s second-largest economy, should derail copper.

However, the current imbalance between supply and demand still remains in favor of higher prices. Investors can still look to copper stocks as a potential buy during periods of weakness.

Plus, energy was a lackluster sector in 2024. But events continue to shape up in favor of traditional energy assets. One reason why is the concept of energy security.

America is largely energy independent, but has an opportunity to export significant amounts of natural gas to Europe. That could offset a potential price decline that may otherwise occur as American producers are encouraged to drill.

In this scenario, smaller energy explorers and producers could be the big winner relative to the oil majors.

To see the full list and details of 10 commodity themes, click here.