Ryan Stancil,
Editor
May 4, 2026
Commodity Callout
While other commodities lose footing, lithium continues to quietly gain ground.
Metal Price Update
Gold — Gold continued the recent downward trend, starting the week around $4700 per ounce and ending around $4625. The Federal Reserve dashed hopes of rate cuts happening in the foreseeable future, and that may have caused investors to lose confidence in gold. Despite that, it is still in a bull market and this presents a chance to buy at a discount.
Silver — Silver was in a downtrend for some of the week, but managed to begin staging a recovery. It started and ended around $76 per ounce, but at one point dropped just below $72. It will likely face many of the same troubles as gold, where it struggles to find traction as traders go back and forth on general preferences for safe-haven investments.
Copper — Copper moved downward somewhat, starting the week at just over $6 per pound and ending just under that. Wider economic volatility, like the rising price of oil, is keeping copper prices constrained, so expect this to be the norm for some time.
Lithium Carbonate — Lithium saw a week of gains, starting around $25,300 per metric ton and ending around $25,900. This has been a trend with lithium in recent months, where it quietly makes gains in a market where most other commodities struggle. This is likely to continue as a trend as lithium demand isn’t going away anytime soon.
Uranium — Uranium got some traction before retreating. It started the week around $86.60 per pound and got up to $87 before pulling back and ending where it began. This kind of constrained movement has been common for uranium over the past few weeks, but the demand fundamentals are such that it stands to break out before long.
Company Callout
Kincora Copper (TSX-V: KCC)(OTC: BZDLF) is a name to keep in mind to build out copper and gold holdings in your portfolio.
The company just announced that it has commenced drilling at its 100%-owned Condobolin gold-silver-base metals property. This is in addition to drilling continuing at the Nevertire South projects, which is partner-funded.
At Condobolin, drills are turning at the Meritilga discovery, a site where prior drilling returned high-grade hits of gold and silver. Kincora is hoping that this new round of drilling will determine if the system repeats and extends at depth.
While the current program includes eight holes of drilling, management is already working to expand beyond that in an area where other mining companies are consolidating. All of these moves, and the resulting drilling success that would come from them, would make Kincora that much more attractive to investors as well as companies potentially looking for acquisitions.
The company has plenty of cash on hand and shares are held by big names like Rick Rule and Jeff Phillips. The qualities outlined above, along with the fact that it has partnerships in place with potentially more to come, builds a compelling case for why this is one that should be in the portfolio of every resource investor.
If you want to learn more about the company, including full buying guidance, you can find that information in the pages of Underground Alpha by clicking here.
Keep your eyes open,
Ryan Stancil
Editor, Resource Stock Digest