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

RSD Weekly Recap: Chilean Metals (TSX-V: CMX)

June 26, 2018

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

More trade drama – get used to it – and sevens everywhere everywhere last week.

Gold settled lower last week, closing at $1,269 an ounce for a weekly loss of nearly 1% a new 7-month low.

Silver lost $0.14, settling at $16.42 an ounce.

The dollar settled at 94.54 for a weekly loss of 0.25%.

Copper settled lower again, closing at $3.08/lb. for a weekly loss of nearly 3%.

Platinum also settled at a 7-month, low closing at $877.

Palladium lost 3%, settling at $953 an ounce.

Zinc lost seven cents settling at $1.35/lb. with trade war and tariff chatter putting a damper on the global growth story.

Oil was the outsider, surging today and surging last week. WTI oil settled at $69.28/barrel for a weekly gain of nearly 7%.

Uranium settled between $22 and $23/lb. again, closing at $22.63/lb. for a weekly loss of 3%.

I spoke with Chilean Metals (TSX-V: CMX)(OTC: CMETF) CEO Terry Lynch last week to go over the recent management shuffle, the company’s approach to exploration, and the Teck royalty that presents a compelling path forward if monetized.

Liquidity is light, the precious metals look weak to me and I expect a summer of buying opportunities.

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