Gold and Silver Stocks Remain Cheap Despite Surging Metal Prices
Published: 12/9/2023
Author: Sid Rajeev, B.Tech, CFA, MBA
Will the Federal Reserve use robust Black Friday sales as a justification for sustaining high rates for an extended period?
Gold and silver prices are on the rise, while equities remain relatively cheap.
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FRC Top Picks
The following table shows last week’s top five performers among our Top Picks, including four junior resource companies, and a biotechnology company. The top performer, Kootenay Silver (TSXV: KTN), was up 23.1%. Kootenay is advancing multiple silver projects in Mexico. Our prior reports can be viewed
Weekly Mining Commentary
Last week, global equity markets were down 0.1% on average (up 1.2% in the previous week). In the U.S., Black Friday online sales soared to a record US$9.8B, up 7.5% YoY. While robust consumer spending instills confidence in the Fed sustaining high rates for an extended period, we anticipate the Fed will initiate rate cuts within the next six months. Key determinants shaping the Fed’s decision include cooling inflation, and rising unemployment, financial instability, mortgage costs, and consumer confidence.
