Categories: General Market Commentary
Topics: General Market Commentary

No Coal in These Stockings

This is your Resource Stock Digest editor Gerardo Del Real here with some Monday coffee talking points on a shortened trading week with the Christmas holiday leading into the new year.

What am I watching?

I'm really curious to see if silver can hold that US$30/oz handle. It’s currently right around US$30.25 after trading at US$29 mid last week. That’ll definitely be worth watching as we close out the year. 

Gold is hanging in there and looking technically solid just above US$2,600 an ounce after threatening to move back into the US$2,500s last week.  

I’m also curious to see if copper can sustain a comeback. It’s been ‘trying’ to find footing above the psychologically important US$4 per pound mark. It would be great if we could get a bit of a push toward US$4.25 as we make our way through the final few trading days of the year. 

Of course, the US dollar index is most definitely the key currency to be keeping a close eye on. It’s currently above 108! We've seen other currencies relative to the dollar trading very weakly of late, which doesn't bode well for bondholders going into 2025.

As you probably know by now, I really don’t dabble personally in crypto, however, our in-house expert Chris Curl certainly does! He sees the current BTC pullback to US$93K as a timely buying opportunity. I encourage everyone to check out what I believe is the best service in the crypto space bar none.

Closing the final chapter of 2024, I believe 2025 is going to be a very, very volatile year… but one equally ripe in opportunity.

I hope everyone has a wonderful holiday with friends and family, and we’ll see you on the other side.

Let’s get it!

Gerardo Del Real
Editor, Resource Stock Digest