RSD Weekly Recap: Midas Gold (TSX: MAX) Drill Results and Leading Edge Materials (TSX-V: LEM) Lithium Expansion
This is Gerardo Del Real with the Resource Stock Digest Weekly Recap.
I hope everyone had a great Thanksgiving.
Gold was down again this week. This time registering a 2% weekly loss closing at $1,179 an ounce.
Silver was down just 0.4% for the week while copper continued to gain closing at $2.67 a pound, a weekly gain of 8%.
All this as the dollar closed at its highest in over 13 years.
Platinum and palladium closed down 2.5% and 0.5% closing at $908 and $741 per ounce respectively.
The move in the treasury markets continues to be major driver as capital is rotating away from bonds and the precious metals markets and into stocks.
I expect lower gold and silver prices for the next 4-12 weeks providing an excellent opportunity for contrarian investors to initiate or add to the best names.
Here at Resource Stock Digest I was able to speak with Midas Gold CEO Stephen Quin (click for interview) on the excellent high-grade assays it just reported.
I spoke with Leading Edge Materials CEO Blair Way (click for interview) on the recent financing the company announced and how the financing will help them continue to add to its portfolio of critical metals assets. Blair also talked about the strategy behind the expansion of its landholdings at its Bergby lithium project.
Expect plenty of news between now and year-end as companies position themselves for the next leg up in the precious metals space.