Chris Temple, Editor and Publisher of the National Investor, joins us to kick off 2025 with a longer-format discussion on the macroeconomic realities for the US and Chinese economies moving into this year. We also get the rationale behind his favorite 2025 commodity sector investments in natural gas, uranium, and gold, and what he looks for in their related resource stocks. 

We start off having Chris unpack his theme for this year of “Let’s do the math,” for cutting through the rhetoric to the realities with regards to national budget spending to keep stimulating economies, global trade, taxes, manufacturing, and mineral extraction domestically and internationally. He touches upon a number of initiatives that the new Trump administration will need to consider to navigate the challenging setup with stickier inflation and even stagflation, the impact of tariffs, and the degree to which any country can actually compete with China with regards to processing and manufacturing of goods.

Then we shift over to the commodities, where he is less animated by critical minerals and base metals in the year to come, or even oil, but is most bullish on natural gas, uranium, and gold, and select resource stocks.   With nat gas, we delve into the export capacity of LNG for both the US and Canada, and the large spread in prices in Europe and Asia presenting opportunities.  Shifting to uranium, the many tailwinds behind nuclear energy and demand are contrasted against limited uranium mine supply creating a the best market dynamics in any commodity Chris can name at present. He points to the strength of US producers like Uranium Energy Corp (UEC) that will continue to expand operations and have good leverage to rising prices, but also highlights how there is good risk/reward value propositions in some of the uranium exploration and development stocks. Rounding things out he lays out the pros and cons to look for when separating out quality companies from the large pool of gold stocks.  Christ still sees some intriguing rerating opportunities for the right kinds of gold stocks if they meet specific investing criteria.

Click here to follow along with Chris at the National Investor website.