Video News/In Focus with Jeremy Szafron

Gold is holding above $4,000 an ounce, marking one of the strongest sustained rallies in modern history. Speaking with Kitco News Anchor Jeremy Szafron, Wheaton Precious Metals CEO Randy Smallwood explained what the U.S. government’s decision to add silver and copper to its official critical minerals list means for investors, the metals supply chain, and the future of sound money. He revealed that Wheaton deployed nearly $1 billion this quarter while raising its dividend by 6.5%, all with zero debt on the balance sheet — a rare feat in today’s market. Smallwood discussed the outlook for $5,000 gold, the U.S. fiscal crisis, and whether the system has to “break” before gold reaches new highs. He also outlined how Wheaton’s streaming model positions it to capture long-term value as silver and copper gain strategic importance in the global energy transition. Recorded on November 7, 2025, the interview examines how streamers, miners, and investors are preparing for the next phase of the metals bull market.