Peter Boockvar: I’m Getting Ready to Buy Silver Again
VRIC Media Sep 23, 2026 30:55
Summary
Boockvar argues oil could reach $200 per barrel because strategic and commercial inventory releases have already filled 1B+ barrels of supply gaps.
Boockvar plans to buy physical silver after a roughly 50% pullback from its parabolic peak; he is patient on gold until rates and the dollar clarify.
Boockvar says mining stocks print robust cash flows but still trade with the metal day-to-day rather than as typical earnings momentum plays.
Boockvar calls the Fed's latest hike policy tweaking; he argues the 10-year at 5% is doing the real work of setting the cost of money.
Boockvar warns AI capex masks a two-lane US economy; he prefers Asia and Europe equities for diversification outside the AI trade.
Darrell Thomas's takeaways
- Top takeaway As VRIC Media host at the Vancouver Resource Investment Conference, Darrell frames the conversation around commodities, precious metals, energy supply, and global equities.
- He teed up the Eaton discussion by reading from Peter's X feed, surfacing the 307→342 GW jump in announced data-center projects as a market signal.
Peter Boockvar's takeaways
- Top takeaway Peter argues oil is structurally bullish and will not dismiss the possibility of an inflation-adjusted $200/bbl given drawn inventories, exhausted strategic-reserve 'Band-Aids', and persistent Strait supply disruption.
- He sold nearly all physical silver after the late-December/early-January parabolic move and roughly 50% pullback, and is preparing to buy back, saying 'the worst is over' but waiting on gold/rate signals.
- He is multi-year bullish on gold but expects near-term choppiness tied to real rates, the dollar, and the 10-year; he is also constructive on platinum on the view that hybrids use more platinum per vehicle than ICE.
- He sees copper as the commodity he is most uncertain on, citing conflicting supply-side views and owning no pure-play copper producers today (only as a derivative from miners).
- He favors non-US, non-AI equities on dollar-diversification and valuation grounds — naming BP (UK), Canadian Natural Resources (Canada), Nestlé (Switzerland), Veolia (France), plus Singapore, Vietnam, India, Hong Kong, China, Brazil, and Argentina.