Metals Monday: Lithium Begins to Break Out

Commodity Callout

After a recent pullback in price, lithium is once again having a moment. Its price climbed last week, making it an outlier in an environment where most other commodities were holding within a certain range. 

Metal Price Update

Gold — It was a back-and-forth week for gold, starting around $3393 per ounce and moving up then down throughout the week before ultimately ending down around $3381. Shaky economic data and policy developments ultimately weighed on the price, but the fact that they stayed in such a narrow range is a good sign overall. 

Silver — Silver experienced much of the same rangebound movement but ultimately fared better. It started around $37.69 per ounce and ended the week around $38.02. It experienced that movement for the same reasons as gold. The case for it being an essential part of your portfolio still holds, however.  

Copper — Copper was another one that stayed in a limited range over the course of the week. It started at $4.45 per pound and ended around $4.49. Copper prices are still depressed from Trump changing his mind about tariffs but they seem to have found their floor. 

Lithium Carbonate — Lithium saw a big pop in its value. It started the week at $10,369 per metric ton and ended at $11,420. The fallout from China shuttering a massive lithium mine is beginning to unfold, and that could be the thing that finally ignites the lithium market to new all-time highs. 

Uranium — Uranium continued moving up, little by little. It started around $71.90 per pound and ended around $73, showing that it has sustained momentum and trust from traders that it is a viable investment for the near future. 

Company Callout

One name to know is GreenLight Metals (TSX-V: GRL)(OTC: GRLMF), a company exploring deposits in Wisconsin's Penokean Volcanic Belt. This area is rich with clean energy metals like copper and zinc, as well as gold, and is little explored. This allows for a massive potential profit opportunity for the company at a time when the metals on hand are in massive demand for a clean energy future. 

As of now, the company has four key assets - Reef, Bend, Lobo, and Lobo East - that are in various stages of development but have the potential to make the company one that will be in every investor’s portfolio. 

The company is part of Gerardo’s Junior Resource Speculator portfolio and has seen its stock value rise 52% since June. Results are expected from the company before the end of September. 

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