Categories: General Market Commentary
Topics: General Market Commentary

Metals Monday: It Finally Happened

Commodity Callout

Silver made its presence known by blowing past $100 per ounce. Even then, it still has a lot of room to run.

Metal Price Update

Gold — Gold started the week around $4600 per ounce before moving in a big way and eventually surpassing $5000. Now that it has reached that psychological milestone, there’s no telling how much of a run it could have.

Silver — Speaking of milestones, silver hit a big one. It moved past $100 per ounce after starting the week at just above $94. Now that it’s hit that level, more eyes will be on it and its value will continue to climb.

Copper — Copper largely stayed in the $5.90-per-pound range, not surprising with all the commodity capital going to the safe-haven metals of gold and silver. Copper will have its time, so now is when investors should be buying.

Lithium Carbonate — Lithium continues with its forward momentum. It started the week just under $21,800 per metric ton and ended around $24,500. Lithium investors continue to enjoy the reward of their patience.

Uranium — Uranium saw some more positive movement, ending the week just above $86 per pound after starting around $85. Its rise continues to be a slow burn, but one that will pay off in the long run.

Company Callout

With silver running away as it is, this seems like the right time to remind you about Vizsla Silver (NYSE: VZLA)(TSX: VZLA). It has its Panuco project in Mexico and infrastructure and funding are already in place. Momentum has been on the company’s side for months, with the latest development being a new discovery of 897 grams per tonne silver equivalent (g/t AgEq) over 5.8 meters. Follow-up drilling will come in short order.

Permits are expected to land this year and the first production should come early next year. As far as silver miners are concerned, Vizsla should be a cornerstone in any investor’s portfolio.

You can learn more about the company’s operations, as well as buying guidance, in the pages of Underground Alpha by clicking here.

Keep your eyes open,

Ryan Stancil
Editor, Resource Stock Digest