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RSD Weekly Recap: Gold and Silver Down for 2nd Straight Week, Brazil Resources Completes Financing, Leading Edge Materials Announces Financing

November 21, 2016

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This is Gerardo Del Real with the Resource Stock Digest weekly recap.

Gold and silver both closed lower for the second straight week with gold closing near the $1206 range and silver trading down to the $16.60-range – a weekly loss of approximately 4.5%.

The dollar hit a 13-year high and it has now breached the 100 level convincingly.

Copper meanwhile has held up well and was down just 1% to $2.48 per pound.

I continue to believe we will see a higher dollar and lower gold and silver prices in the short-term, making the last 6 weeks of the year an excellent time to add the best names at attractive entry points.

A quiet week on the news from t as everyone gets ready for the holidays.

Brazil Resources (TSX-V: BRI)(OTC: BRIZF) completed its final tranche of the previously announced $12.4 million financing.

Leading Edge Materials announced a C$2 million financing that will allow the company to work through the qualification process and continue to add to its portfolio of strategic critical metals assets.

That's all for this week.

 

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MARKET SUMMARY

INDICES

Name Last Change
DOW 25413.20 0.49%
S&P 500 2736.27 0.22%
NASDAQ 7247.87 0.15%
TSX 15155.50 0.07%
TSX-V 624.51 0.00%

Resource Commodities

Name Last Change
Gold 1221.51 0.67%
Silver 14.41 0.90%
Copper 2.80 0.050
Platinum 846.50 0.000
Oil 56.46
Natural Gas 4.27 5.48%
Uranium 29.18 0.00%
Zinc 1.20 0.00%

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