In this must-watch 2025 playbook, Wheaton CEO Randy Smallwood breaks down the biggest forces shaping gold and mining right now. From the global money shift and a coming 50% production increase to a critical take on industry mega-deals, this is the interview every investor needs to see.
In this exclusive discussion, Smallwood covers:
-The Global Macro Shift: Why central banks are accelerating their move from U.S. Treasuries to gold as the world’s “trust anchor.” He also explains his contrarian view on why high U.S. tariffs are a “net positive” for the mining industry.
-A “Dramatic” 50% Growth Profile: A detailed update on the company’s “dramatic” “50% increase” in production, as it climbs towards one million gold equivalent ounces over the next five to six years.
-The State of Industry M&A: A critical take on the Royal Gold-Sandstorm mega-deal, arguing it’s how “you start losing shareholders’ confidence”.
-The Future of the Gold Market: An explanation of the World Gold Council’s plan to create a “digital gold token” to solve the “systemic risk” posed by the market’s opaque “private clubs”.
Randy Smallwood is the President and CEO of Wheaton Precious Metals and the former Chair of the World Gold Council.
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00:00 Introduction
01:11 Central Banks and Gold Demand
03:53 Impact of US Tariffs on Precious Metals
06:36 Wheaton Precious Metals’ Growth Strategy
07:21 Governance and Digitalization of the Gold Market
17:21 Permitting Delays and Industry Challenges
25:04 Conclusion and Future Outlook
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The videos are not intended to provide trading advice, and the views expressed do not necessarily reflect those of Kitco Metals Inc. Kitco News, its anchors, producers, and reporters are not responsible in any way for the performance or actions of any sponsor, advertiser or affiliate of Kitco News. In no event will Kitco and its employees be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content in this video.
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24 Comments
A great, wide-ranging discussion with Randy Smallwood.
He laid out the World Gold Council's plan for a "digital gold token" to bring more transparency to a market dominated by "private clubs". What do you think? Is this digital overhaul the future for gold, or are there risks?
Let us know your thoughts in the comments below!
7:40 You have been able to buy Gold stablecoins (audited reserves) from PAXG and Teather's XAUT for years; this is not new in any way……no need for ETFs with unverified reserves.
Randy knows his stuff ……….and hes got the cash
Again for Europe and the USA It is All about economic decline : easy to consume difficult to produce creating real value is difficult…mouvements in gold, silver and real estate are not solutions they are ALSO symptoms…the same for cryptos and bitcoin…
Arizona plate reads❤Grand canyon state
Don't try blaming it all on Trump Jeremy . Your not bad.
Thank you.
Speaking on delays. So many ppl are negative on junior miners saying the admin just pay themselves and do nothing while simple permits in areas of great mines take a decade. The whole space would change with positive legislation. Ontario is trying.
Follow the money…Wheaton just took a big chunck of Northisle's recent capital raise. Copper/Gold jr with a $2B NAV (at lower metals price) trading at less than 10% NAV. I own it for sure.
Trump no quiere destruir a Rusia, Ucrania le importa tres pepinos y lo que quieren es que Rusia se aleje de China y se acerque a los USA. Lo que parece que no se dan cuenta es que eso con el actual gobierno (o más bien con la actual dictadura) ruso, eso no va a pasar. Putin no se mueve en los paradigmas del capitalismo como en occidente, es un flipado que quiere restaurar el "imperio ruso" antes de palmar. cueste lo que cueste.
Go for Gold!!! Gold's value will be worth a fortune in the future especially with all the economic uncertainty doing the rounds….. Gold prices will definitely skyrocket going forward….People have lost faith in fiat currencies…. The USA has a debt of 37 trillion dollars….The USD has lost its value….Gold is and will always be King!!
US President Donald Trump can order the printing of 37 trillion 99.99% of it can be in digital form and then he can tax gold and silver with about 2.5% equal to annual inflation to attribute to non-existent classes. Inflation will occur or not then that’s fed problems More importantly, debt will pay and free unbalanced markets for a century.
I’d love to know if WPM has looked into Metallium. I think a steam on silver could fund the rapid expansion they are planning for and be a win-win.
16:04 Sandstorm was a real let down
Gold stocks pusher )
All that and a bag of chips hey? Not a very appealing CEO to trust my investment with.
Re the Rosemont and Oak Flat projects in Arizona, as a third-generation Arizonan who had Barry Goldwater show up at his cousin's wedding, I have to point out the state has become horribly leftist and a terrible jurisdiction for mining projects in general. Rosemont is in a particularly unfortunate geographic pickle: It's not far from the leftist stronghold of Tucson (my hometown). Oak Flat is interesting in that they played the Indian card–sacred land, blah, blah, blah. The San Carlos Apaches don't own it. It's not on their reservation, but they have some metaphysical title to the place. The same nonsense was pulled some years ago when a major telescope was planned for the top of Mt. Graham near Safford. We don't own it, but that's our sacred land. The telescope got built. I have a feeling that no matter what patch of desolate ground you want to open up for mining in Arizona, they'll find some Indian tribe to say that it's their sacred land (that they don't own).
Shouldn't we have gotten the 2025 playbook BEFORE 2025? This year is already more than 1/2 over… and likely the good half, for gold. 😂
I’m all in and gold holding over 450 ounce let’s go the party. I just started.
“According to China’s official data”
Lol means nothing
60.00 silver, 4k gold by 2026
Change the name from Black Water to something else
Digital gold tokens backed with gold valued at ? $42:22. ? Or perhaps a revaluation first ?
Trust in the US treasury is gone. Just buy some gold and Weaton precious metals stock and sleep well.
We just don't HATE both parties of Congress enough. Therefore, I'm all in on gold.