Categories: Base Metals / Energy / General Market Commentary / Precious Metals
Topics: General Base Metals / General Energy / General Market Commentary / General Precious Metals

RSD Weekly Recap: Aben Resources (TSX-V: ABN), Chakana Copper (TSX-V: PERU)

July 10, 2018

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

Gold settled a bit higher last week, closing at $1,255 an ounce for a weekly gain of 0.2%.

Silver lost 0.5% and settled at $16.01.

Both look weak to me in the near-term and I have my fingers crossed for a final washout that allows for a third and fourth quarter rally that sets up the next sustainable leg up in 2019.

The dollar took a breather, settling at 94.04 for a weekly loss of 0.6%. I expect a violent dollar rally within the next few quarters.

Copper took a beating and settled at $2.85/lb. for a weekly loss of 0.5%. Tariff talked has removed big money from the market but that can change with one tweet, and don’t discount geopolitical instability that brings copper back with a vengeance.

Platinum settled at $842 an ounce for a weekly loss of 1.2%.

Palladium was relatively flat, closing at $946 last week.

Zinc lost a nickel and settled at $1.26/lb.

Uranium was flat and settled at $22.80/lb.

Oil settled at $73.83 for a weekly loss of 0.5%.

I caught up with Aben Resources (TSX-V: ABN) CEO Jim Pettit on the summer drill program at the Forrest Kerr gold project in BC’s Golden Triangle.

I also had the pleasure of speaking with Chakana Copper (TSX-V: PERU) CEO David Kelley on the latest high-grade intersections at the Soledad copper-gold-silver project in Peru.

Chakana is expecting an important permitting decision that should be favorable and could be a game-changer for the Soledad project.

That’s all for this week. This is Gerardo Del Real with the Resource Stock Digest weekly recap.