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The Next Wave Into Gold Stocks May Be Bigger Than the First | Adrian Day

The Deep Dive Apr 27, 2026

Summary

Adrian Day argues institutional capital has not yet entered precious metals equities, positioning the sector for a potentially massive second wave of investment.

Agnico Eagle's recent acquisition in Finland highlights a shift in M&A strategy where majors prioritize de-risked assets over cheapness, setting healthy takeover premiums.

Gold and silver prices are expected to push higher once current geopolitical noise fades, with producers, royalties, and select juniors offering the strongest upside.