How metals became one of this year's hottest trades

Group 1: Precious Metals - Gold prices have surged 57% in 2025, surpassing $4,000 per ounce, outperforming the S&P 500 and Bitcoin [3] - Silver futures reached $53.55 per ounce, marking a record high not seen in 45 years due to a short squeeze [6] - Central banks are increasing their gold reserves, supporting bullish sentiment in the gold market [4] Group 2: Economic Factors - Economic uncertainty, rising government debt, and inflation fears have driven demand for precious metals [2][5] - The "debasement trade" is a key factor, as investors seek to hedge against currency devaluation [2][5] Group 3: Mining Stocks - Mining stocks are experiencing significant gains, driven by the overall rise in metal prices [7][8] - The U.S. government's interest in domestic mining companies has gained attention, contributing to the sector's growth [7]