Metals Monday: A Commodities Comeback

Commodity Callout

Many commodities had a good week, with gold leading the pack by making huge gains. 

Metal Price Update

Gold — Gold was back on the upswing last week, starting at around $4060 per ounce and climbing all the way to $4250. The possibility of a rate cut was back in play, which may have been what ignited this price climb. 

Silver — Silver moved in tandem with gold, as it often does. It started around $51 per ounce and ended above $57, showing just how one small bit of good news can cause big price movements. 

Copper — Copper also climbed, beginning the week around $5 per pound and ending around $5.27. The dollar is weaker and output is projected to be lower than it has been, spurring a rush for supply and pushing prices higher. 

Lithium Carbonate — Lithium continued moving up, starting just shy of $13,000 per metric ton and ending around $13,250. Demand for battery storage systems is continuing to climb, so miners are going to be making even more money on the raw material. 

Uranium — Uranium continued to hold within the same range as the week before, staying close to $76 per pound for the week. It may take big news from the sector to push prices higher, but for now, it has been holding steady. 
Company Callout

FinEx Metals (TSX-V: FINX) is one to watch. Thanks to a recent selloff, prices are now at a level that makes it even more attractive to prospective investors. Its gold operations are based in Finland, one of the best mining jurisdictions on the planet, and it has only recently begun drilling. 

The selloff came as a result of recent drill results reporting misses, and the market, being reactionary, panicked and sold off, not considering how much more ground there is still to cover. Remember, this is a company with a small market cap that has neighbors who have projects worth billions. 

FinEx will get there in time and you’ll want to make sure you claim your piece of it before it reaches that point, especially as gold regains its upward momentum. 

You can learn more about the company in the pages of Junior Resource Speculator by clicking here.

Keep your eyes open,

Ryan Stancil

Ryan Stancil
Editor, Resource Stock Digest