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Otavio (Tavi) Costa, portfolio manager at Crescat Capital, highlights strong momentum in silver amid rising metal prices.
He attributes the rally to decades of underinvestment, restricted supply growth, and a global macro backdrop favoring hard assets. Costa observes that markets have yet to fully recognize this fundamental shift in metals pricing.
Costa has previously criticized the St. Louis Fed for using Kevin Warsh’s inflation metric to argue for lower rates during rising inflation pressures, according to a past article. He has also assessed global central bank policy divergence and identified ongoing risks for dollar weakness in an earlier commentary. These views provide context for his current stance on metals pricing.