RSD Weekly Recap: Year-end Metal Prices and Almaden Minerals (TSX: AMM) Interview
This is Gerardo Del Real with the Resource Stock Digest Weekly Recap.
I hope everyone had an excellent holiday and I wish all of you a prosperous 2017.
Gold closed the year up 9%, the best gain since 2012, closing the year at approximately $1,157 an ounce. Gold was still down around 1.5% for December and I still expect lower prices before it turns back up.
Silver closed the year at $16.08 an ounce, a 2% drop for the week but a 17% gain for the year.
The dollar closed above the 102 level for the year, its strongest showing since 2002. Expect a higher dollar this year.
Copper closed the year at $2.51/lb. up approximately 16% for the year. Zinc closed at $1.15 per pound.
Platinum closed the year up approximately 1.6% for the year while palladium gained almost 21% in 2017.
Uranium closed out 2016 at approximately $20.63 per pound while Brent Crude closed the year up 52%.
A quiet week on the news front the last trading week of the month didn’t stop Almaden Minerals (TSX: AMM)(NYSE: AAU). Almaden continued to deliver great results from its gold-silver Ixtaca deposit. I spoke with (interview here) Almaden CEO Morgan Poliquin about the results and what to expect from Almaden in 2017.
We’re expecting a very busy 2017 that will be a pivotal year in the precious metals space, currency markets and on the geopolitical front.