Nomi Prins — Power Path: The Gold Miner Surging On A Renewed U.S. Focus
The January Founders+ monthly issue — an "overlooked opportunity in the gold value chain" tied to a renewed US focus.
One-line take: the January Founders+ monthly recommendation — a single gold-miner pick (an "overlooked opportunity in the gold value chain") riding a renewed US focus. The free intro makes the macro case: gold rang in 2026 just below $4,400 and is now above $4,600; for the first time since the mid-1990s the value of gold held by foreign central banks (~$4T) now exceeds their US Treasury holdings (~$3.9T); and gold's rise is driven by strategic/monetary demand and supply-constraint fears, not inflation, with central banks buying through every record high. Note: this is a paid Founders+ issue — the actual gold-miner name, thesis and buy-up-to price are behind the paywall (the account used is below the Founders+ tier), so this page captures only the free macro setup, not the specific recommendation.
1. Stocks & names mentioned
The free portion is the macro intro only — no equity is named (the gold-miner pick is fully paywalled). The single name capturable is the commodity the issue is built on. The "At" link opens the article.
| Ticker | Name | Research | View | What she said | At |
|---|
| Gold | Gold (commodity) | — | Positive | Opened 2026 just below $4,400 and is now above $4,600; for the first time since the mid-1990s, foreign central banks' gold (~$4T) exceeds their US Treasury holdings (~$3.9T). The rise is strategic/monetary, not inflation-driven — central banks keep buying through record highs while supply barely budges. | read |
"View" reflects how gold was framed (Positive). Built from the article's free/public portion; the specific gold-miner recommendation, its thesis and buy-up-to price are reserved for Founders+ subscribers, so no individual buy call is captured here.
2. Key points
Gold passes another monetary milestone
- For the first time since the mid-1990s, the value of gold held by foreign central banks (~$4 trillion) now exceeds their US Treasury holdings (~$3.9 trillion) — in plain terms, they prefer gold to US debt. Last year gold had already surpassed the euro in reserve-currency status, sitting just beneath the dollar.
Strategic demand, not inflation, is the driver
- Prins stresses inflation has not been the primary driver this cycle. Gold's ascent has hinged on strategic demand and emerging supply-constraint fears; central banks kept buying through interim dips and multiple record highs, and retail investors bought at record volumes — while supply has barely moved.
The pick (paywalled)
- Those forces point to "an overlooked opportunity in the gold value chain" — the specific gold miner is the Founders+ January recommendation, behind the paywall. This archive captures the macro setup only.
Summary derived from the public (free) portion of the Prinsights Founders+ Substack article for personal study. Not investment advice; the author's specific recommendation is paywalled. © Nomi Prins / Prinsights for source material.