Elections in France and the U.S. should not disrupt carbon compliance markets, said Luke Oliver, managing director and head of climate investments at KraneShares.

On Tuesday Oliver spoke to Kitco Mining.

The KraneShares Global Carbon Strategy ETF (KRBN) is benchmarked to the S&P Global Carbon Credit Index, which covers cap-and-trade carbon allowances. Currently, the index covers the major European and North American cap-and-trade programs: European Union Allowances (EUA), California Carbon Allowances (CCA), the Regional Greenhouse Gas Initiative (RGGI), and United Kingdom Allowances (UKA).

The carbon compliance markets are designed to incentivize pollution reduction. In a report from last year, Reuters valued the markets at over $900 billion.

France, a pillar nation within the EU, is in the middle of an election with the far-right National Rally (RN) leads the polls, according to polls by EuroNews. The National Rally is at 36% while French President Macron's party is at 20%. The U.S. election is in November. Most polls show a tie.

"I think it's possible to see a shift right in the U. S. And I think that a shift right usually sort of correlates with a less climate forward or climate supportive set of policies. But these programs are ...deeply embedded," said Oliver. "We don't foresee any material rolling back of the program."

Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.

Declining profits for lab-grown diamonds could push retailers into a natural diamond pivot, said Paul Zimnisky, an independent diamond industry analyst.

Last week Zimnisky spoke to Kitco Mining.

The diamond market has been in a tough spot due to declining sales. In September Petra Diamonds reported full-year revenue declined 44%. In February Lucara Diamond announced full-year revenue was down 16%, adding that the diamond market is a "volatile environment with market challenges coming from multiple areas." Storied diamond company De Beers is being sold off by parent Anglo American, which is restructuring after rebuffing a takeover by BHP.

Demographics and growing market share by lab-grown diamonds are part of the challenge, said Zimnisky, but exclusivity and rarity of natural diamonds could end up helping. Innovations in production have resulted in jewelers cutting the costs of lab-grown diamonds. That may lead jewelers to pivot and prioritize selling natural diamonds over lab grown, said Zimnisky.

"The catalyst could be declining profitability of selling lab-grown diamonds, " he said. "[That] could incentivize retailers to really push natural diamonds again. That has the potential to be a very positive development for the natural diamond industry."

Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.

Gold miners could use a little more conviction in the product they sell, said Frank Holmes, CEO and chief investment officer at @USGlobalInvestors .

In early June, Holmes spoke to Kitco Mining.

Gold has been hitting all-time highs in 2024, but the gold mining companies have lagged behind. The GDX, the gold mining index, is only up 12% year-to-date. Some enthusiasm for the metal the miners produce could help, said Holmes.

Holmes said gold miners are holding less gold on their books, unlike cryptocurrency companies.

"I think gold miners—like Bitcoin miners—have to show investors their conviction that they really like the product, and that they're going to own it," said Holmes. "You have many more crypto mining companies [that] actually own Bitcoin."

Coverage of the THE Mining Investment Event of the North is sponsored by EMX Royalty.

Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.