Ryan Stancil,
Editor
April 21, 2025
Commodity Callout
Gold had another great week, moving back above $3,300 per ounce and managing to stay above it. Not surprising, given comments from Fed Chair Jerome Powell that have soured investors on the economy’s prospects. Gold’s move clearly shows that investors view it as a safe haven.
Metal Price Update
Gold — Gold is on the move again from around $3,200 to above $3,300 per ounce. Continued volatility and instability from the government is pushing it, and it’s likely only going up from here.
Silver — While gold moved, silver more or less held steady, hovering between $32.50 and $32.90 an ounce. It briefly touched $33, showing that the potential for a breakout is well in play. As long as gold keeps thriving, so will silver.
Copper — Copper saw an uptick in its price last week, moving from around $4.50 to a price above $4.70 per pound. Tariff threats and its importance in the energy infrastructure of the future aren’t going away, so the price is only going to keep climbing from here.
Lithium Carbonate — Lithium largely held the same range from the week before, moving between $9,780 and $9,800 per ton. It could be that the metal has found its floor at this level. Now, investors will have to wait to see if it moves higher or goes lower and presents a better buying opportunity.
Uranium — Uranium is seeing some slight upward movement, going from $64.40 to just above $65 per pound. It could be that the market is beginning to wake up to its importance in the clean energy future as outlined during a recent House hearing when it comes to developing AI in competition with China. Regardless, the price is a good entry point for interested investors.
Company Callout
News recently came out that China is banning the export of six important rare earths in response to the trade war. Only one company here in the US is prepared to pick up the slack as far as mining goes. That company is Energy Fuels (NYSE: UUUU)(TSX: EFR), which is scaling up to full commercial capacity according to a recent press release. Once fully online, it will be able to produce up to 60,000 tonnes per annum. The fact that the company controls the only producing mine on US soil means that Trump’s trade war is going to put a good amount of profit into the accounts of the company and its investors.
You can read more about the company and investment guidance in the most recent issue of Nick’s Hodge Family Office by clicking here.
Keep your eyes open,
Ryan Stancil
Editor, Resource Stock Digest