Gold had a big year. The yellow metal surged from $2,600 per ounce to start the year to over $4,300 by the end of it for a 65% return. Gold mining stocks did even better. The VanEck Gold Miners ETF ($29 billion in assets) rose by 155%. After moves like that, a reasonable question comes up: is it too late to jump on board?

Daniel Oliver says no. Oliver runs the Myrmikan Gold Fund, which launched in 2010 and, as of a 2023 filing, managed about $30 million in assets. (Oliver, it should be noted, is a committed gold advocate, not a neutral observer.) In a

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