Ryan Stancil,
Editor
Nov. 9, 2026
Commodity Callout
Gold saw its fortunes turn around following the results of the midterms, with hope that the momentum will keep it going.
Metal Price Update
Gold — The midterm results gave gold a welcome boost, pushing it past $4100 per ounce at one point before prices ultimately settled around $4080. Jobs numbers took away some of those gains, but gold may have found its floor again in this recent uptrend.
Silver — Silver moved up too, ending the week just shy of $52 per ounce after having dropped below $50 at one point. Traders will now be watching to see if it can hold that level and head higher from there.
Copper — Copper’s recent resilience was tested, starting the week around $6.55 per pound before ending around $6.25. Part of that may be due to AI investments cooling, especially with the coming Democrat-heavy Congress. It can find a bull market again if it can make its way back up to that $6.50 level.
Lithium Carbonate — Lithium saw a slide but ultimately recovered to end the week around where it started at $14,070 per tonne. There could be some hope that lithium prices are finding a floor following a rough few weeks.
Uranium — Uranium cooled somewhat after a few hot weeks. It fell from $92.15 per pound to around $91.85. That’s far from a concerning drop and the fundamentals are still firmly in place for the price to climb in the near future.
Company Callout
Gladiator Metals (TSX-V: GLAD)(OTC: GDTRF) is a portfolio name to consider for exposure to copper.
Copper prices have been experiencing a pullback lately, but the fundamentals behind the metal mean that things aren’t likely to stay that way for long. Recent drilling helped the company argue its case to investors, with results showing substantial mineralization at the Southern Limb of its Cowley Project, located at the Whitehorse Copper Project, Yukon. This follows previously reported mineralization and contributes to known mineralization across about 50 meters of strike. From here, the company will be working to expand the area and find out just how large the resource is.
All of this comes on the heels of drilling that has already expanded beyond the initial program as well as drilling that has started at other targets, showing that the company isn’t content to just stick to one primary zone.
Gladiator has the funding to do the work, so financing isn’t a concern. Instead, investors are worried about soft copper prices and tax-loss selling. Neither appears likely to undermine Gladiator's longer-term exploration potential, particularly as the company continues to advance drilling across multiple targets.
Nick has been adding GLAD shares to his Underground Alpha portfolio and makes the case for why you should be doing the same in the latest issue. You can learn more by clicking here.
Keep your eyes open,
Ryan Stancil
Editor, Resource Stock Digest