Since the 2025 tariff turmoil hit, gold and silver have gained a lot of investors’ attention. However, I don’t think either gold or silver make for a no-brainer asset choice. Here’s why: Unlike state-issued currencies, they can’t be inflated by printing machines. That doesn’t mean there’s no ‘new’ gold or silver entering circulation. On average, around 1–2% is added to the global supply every year. Mining precious metals is expensive - sometimes it’s so costly that it’s not profitable. As prices rise, miners are incentivized to extract lower-grade or harder-to-reach dep...