Ryan Stancil,
Editor
Aug. 3, 2026
Commodity Callout
Uranium continues to outdo other commodities with its steady upward climb.
Metal Price Update
Gold — Gold’s consolidation continues. It looked like there was some hope of prices moving above $4,100 per ounce, but they ultimately came back down to end the week around where it started at $4,050. Middle East violence has waned somewhat, but the Fed signaled hawkishness for the near future, and gold moved up and down as a result, continuing to present strong buying opportunities.
Silver — Silver’s trajectory continued to mirror gold’s. It started around $58.80 per ounce and got as high as $59.50 before dropping to $57.50. This consolidation is likely to continue, but investors should keep adding.
Copper — Copper made gains that stuck this week. It started around $6.40 per pound and ended around $6.50. Because of the logistics of bringing a mining operation online, supply is only going to tighten as demand rises, so you want to continue adding copper investments when you can.
Lithium Carbonate — The fall in lithium prices continued. They started the week at $21,650 per metric ton and ended around $21,170. Bearish pressure from increased supply is going to continue weighing on the price. At this point, it isn’t clear how far the decline could go, but fundamentals remain strong enough that investors should continue stockpiling.
Uranium — Uranium continued its uptrend. It started around $86.30 per pound and ended around $86.60. While other commodities experience consolidation, uranium continues to improve.
Company Callout
URZ3 Energy (TSX-V: URZ)(OTC: URZEF) is a name to keep in mind for your portfolio as uranium continues to quietly strengthen within the commodity space. The company recently released news that it is expanding its Wyoming uranium land position by approximately 10,900 acres through the acquisition of three state mineral leases covering approximately 1,920 acres. The company also staked 437 additional unpatented mining claims covering approximately 9,000 acres.
All of this is happening in the Powder River Basin, one of the most established uranium districts in the United States, giving the company a wider range of targets for exploration in search of other uranium deposits.
Over the course of the rest of the year, the company will carry out permitting reviews, field evaluations, and other work needed to identify and prioritize exploration targets.
Management has a track record of success, and this expansion of its land position just puts the company in an even better position to benefit from the slow-building uranium boom that’s unfolding.
With all of that in mind, shares could be considered cheap at current prices, but that may not last long.
Gerardo talks about the company in this week’s episode of Bizarro World Live, which you can listen to by clicking here.
He also explores the company in depth in the pages of Junior Resource Speculator, which you can read by clicking here.
Keep your eyes open,
Ryan Stancil
Editor, Resource Stock Digest