Metals Monday: Commodities Hold Strong as Shutdown Drags On

Commodity Callout

The gold rally continues, with the price reaching almost $4400 per ounce last week. At this pace it may go well beyond that by the end of the year.

Metal Price Update

Gold — The gold rally showed that it continues to have legs. It started the week around $4120 per ounce and, at one point, moved to nearly $4400 before settling at around $4260 to end the week. Now that it’s had a taste and traders are becoming more aware, it may not be long before it gets back there.

Silver — Silver saw a similar rally, starting around $50.60 per ounce and getting as high as $53.40 before pulling back to where it started the week. There’s no reason to think it can’t reach those levels again, so this could be seen as a buying opportunity.

Copper — Copper prices saw a decline last week. They started around $5.15 per pound and dropped as low as $4.90, likely due to Trump threatening another round of tariffs on China. Notably, prices began inching back up when he signaled that he was backing down again. This is a chance to buy an in-demand metal at a discount.

Lithium Carbonate — Lithium saw a dip from its recent price stability. It spent last week in a range of $10,223 and 10,290 per metric ton. The good news is that it ended the week at the high end of that range, making a case for why investors should continue to hold and maybe even add during a time like this.

Uranium — After a drop in prices over previous weeks, uranium’s price was largely stable over the week as it traded in the $79-per-pound range and came close to $80. The fundamentals haven’t changed, so this is one traders will want to add to the portfolio while they can. 

Company Callout

One company you should know about is Daura Gold (TSX-V: DGC). It just closed a C$7 million private placement that exceeded expectations as far as investor demand is concerned. More people are becoming aware of the potentially massive lucrative nature of the company’s holdings in Peru and want to get in on it as the gold market continues heating up.

The company’s new VP of Exploration, Stuart Mills, brings three decades of experience that will also inspire confidence from investors, making it a perfect addition to any portfolio.

You can learn more about the company, what it owns, and its future potential in the pages of Hodge Family Office. Do that by clicking here.

Keep your eyes open,