Gold & Silver Surge, But Miners Lag: John Rubino Explains Why

Mar 16, 2026

John Rubino, macro and commodities writer behind Rubino Substack, explains why gold and silver may still be in a long bull market. He discusses why miners have lagged despite rising metals, where upside may lie across majors, mid‑tiers and royalty names. He also covers silver’s supply story, M&A and buybacks in the mining sector, and energy/geopolitical risks that could affect precious metals.

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INSIGHT

Private Credit Could Be The Next Domino

Private credit appears to be a major hidden risk and potential first domino in the next crisis.
Rubino notes private credit is vast, opaque, and possibly larger than subprime, citing stress at Blackstone and similar managers.

INSIGHT

Crisis Could Initially Tank Metals Before A Fed-Fueled Rally

A private credit collapse would be deflationary and could initially pull down gold, silver, and miners during a liquidity rush.
Central bank easing after such a crash historically produced V-bottoms in precious metals when they then surged.

ADVICE

Build Real Assets Gradually Not By Timing

Build a portfolio of physical precious metals and commodities gradually using dollar-cost averaging and lowball bids.
Rubino warns against market timing and emotional trading; steady accumulation beats trying to outguess short-term moves.

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John Rubino breaks down why gold and silver may still be in a long-term bull market, why mining stocks have not fully caught up yet, and where he sees the biggest upside across majors, mid-tiers, and royalty companies. #Gold #silver #preciousmetals ----------Thank you to our #sponsor MONEY METALS. Make sure to pay them a visit: https://bit.ly/BUYGoldSilver------------👨‍💼 Guest: John Rubino🏢 Company: Rubino Substack🌎 https://rubino.substack.com/📅 Recording date: March 12th, 2026---------------------📆 Save the Date 📆DEUTSCHE GOLDMESSE May 15 & 16, 2026, in Frankfurt, Germanywww.deutschegoldmesse.com FREE Registration for Investors! ---------------------📰 Up-to-Date Commodity Prices & Commentary 📰👉 Clear Commodity Network 👈🌎 https://clearcommodity.net/ 🌎►► Follow Us! ◄◄Twitter: / soarfinancial Website: http://www.soarfinancial.com/---------------------00:00 Intro01:03 Gold and silver outlook03:00 Why corrections are normal05:40 Fiat currency risk09:30 Why miners are lagging14:45 Opportunity in mining stocks19:59 Big miners and growth21:05 Cash flow and buybacks22:10 Oil price risk28:42 Best mining stock setup30:33 Royalty companies outlook32:03 Where to follow John Rubino**Disclaimer:**Some of the links presented might be affiliate links. We might receive a commission if a purchase is made using those links! Unless specifically disclosed, all information available on Soar Financial and its affiliates or partners should be considered as non-commercial in nature. None of the content produced by Soar Financial should be considered an endorsement, offer or recommendation to buy or sell securities. Soar Financial is not registered with any financial or securities regulatory authority in Canada, the US, Europe, or the UK, and does not provide, nor claim to provide, investment advice or recommendations to any consumer of the content that Soar Financial produces and publicizes. Always do your own due diligence and/or consult a qualified legal, tax, or investment professional if personal advice is deemed necessary.Soar Financial and its related companies (including its directors, employees, and representatives) or a connected person may hold equity positions in securities detailed in communications. When this occurs a disclosure will be made. Disclosures on social media will be made using the hashtag #coi (short for conflict of interest).Soar Financial, its affiliates, and their respective directors, officers, employees, or agents expressly disclaim any liability for losses or damages, whether direct, indirect, special, or consequential, or other consequences, howsoever caused, arising out of any use or reproduction of this site or any decision made or action taken in reliance upon the produced content of Soar Financial, whether authorized or not. By accessing Soar Financial’s content, each consumer of Soar Financial content releases Soar Financial, its affiliates, and their respective officers, directors, agents, and employees from all claims and proceedings for such losses, damages, or consequences.#JohnRubino #Gold #Silver #MiningStocks #GoldStocks #SilverStocks #PreciousMetals #GoldBullMarket #SilverPrice #GoldPrice #JuniorMiners #GoldInvesting #Macro #Inflation #FiatCurrency #Commodities #RoyaltyCompanies #MiningSector #SoarFinancially #KaiHoffmann