RSD Weekly Recap: Gold and Silver Down for 2nd Straight Week, Brazil Resources Completes Financing, Leading Edge Materials Announces Financing
This is Gerardo Del Real with the Resource Stock Digest weekly recap.
Gold and silver both closed lower for the second straight week with gold closing near the $1206 range and silver trading down to the $16.60-range – a weekly loss of approximately 4.5%.
The dollar hit a 13-year high and it has now breached the 100 level convincingly.
Copper meanwhile has held up well and was down just 1% to $2.48 per pound.
I continue to believe we will see a higher dollar and lower gold and silver prices in the short-term, making the last 6 weeks of the year an excellent time to add the best names at attractive entry points.
A quiet week on the news from t as everyone gets ready for the holidays.
Brazil Resources (TSX-V: BRI)(OTC: BRIZF) completed its final tranche of the previously announced $12.4 million financing.
Leading Edge Materials announced a C$2 million financing that will allow the company to work through the qualification process and continue to add to its portfolio of strategic critical metals assets.
That's all for this week.