Video News/BMO Capital Markets 2025

Are tariffs set to disrupt gold, silver, and uranium markets? Find out how potential trade barriers could impact prices and create arbitrage opportunities. Kitco’s Senior Mining Editor and Anchor Paul Harris interviews John Ciampaglia, CEO of Sprott Asset Management, at the 2025 BMO Global Metals, Mining & Critical Minerals Conference. Ciampaglia discusses the impact of potential tariffs on metal markets and the resulting price volatility and arbitrage opportunities. The conversation also explores the increasing interest in physical gold driven by central bank buying and a potential return of Western investors, along with speculation surrounding U.S. gold reserves. Finally, Ciampaglia highlights the evolution of the precious metals sector and introduces Sprott's new actively managed gold and silver miners ETF (GBUG) and their silver mining ETF. Special thanks to our sponsor, First Majestic, for making this coverage possible. Visit https://www.firstmajestic.com/ to learn more.