Metals Monday: Gold Gains Amid Job Market Losses

Commodity Callout

Gold hit a new high, and a fresh round of volatility could very well mean that this is only the beginning.

Metal Price Update

Gold — Gold hit a new high last week, moving above $3600 per ounce. Volatility is showing its head and the abysmal jobs numbers brought on a lot of attention. This could be just the start of another run higher. 

Silver — Silver followed in gold’s wake, moving above $41.46 per ounce to end last week. More people are seeing it as a haven alongside gold, so you can expect these rises to become normalized among increasing volatility.

Copper — Copper continued its trend of largely staying within range, this time hovering between $4.53 per pound and $4.54. It’s inching its way up slowly, presenting plenty of opportunity to buy in amid bull market tailwinds. 

Lithium Carbonate — Lithium prices pulled back again, starting around $11,162 per metric ton and ending the week around $10,505. The price seems to be cooling and searching for a bottom largely due to permitting decisions for mines in China. Now is the time to load up on shares before prices pick back up. 

Uranium — Uranium largely stayed in range at around $76.70 per pound, having moved up slightly from the previous week. It’s a slow-moving bull market but one that’s sure to reward patient investors. 

Company Callout

One name to watch is Headwater Gold (CSE: HWG)(OTC: HWAUF), a company set to be a big winner in the emerging gold bull market. The company recently closed a C$1 million private placement at C$0.30 per unit, and some big-name resource investors like Rick Rule and Jeff Phillips participated. These are names that lend legitimacy to whoever they invest in. 

The company is a prospect generator with properties in the Western USA. A handful of projects in its portfolio are in partnership with other companies, and Headwater itself has eleven 100%-owned projects. There have already been discoveries made in its partnered projects as well as the projects it owns completely, and the money raised can be used to fund future discoveries. 

The stock has already doubled since May and, given the strong gold market, the price is likely to continue to run. If you want to know more about the company, including the details of its properties and management team, you can find that information in the pages of Hodge Family Office by clicking here.

Keep your eyes open,

Ryan Stancil

Ryan Stancil
Editor, Resource Stock Digest