BOC Meeting Predictions, Bitcoin Price Outlook, and Upbeat News for EV Metal Juniors
Published: 12/9/2023
Author: Sid Rajeev, B.Tech, CFA, MBA
Summary
What we anticipate in the upcoming Bank of Canada meeting
Last week, gold briefly spiked to US$2,100/oz, in line with our prediction at the beginning of the year
The U.S. government is backing a graphite junior under coverage
A cobalt junior under coverage stands to gain from the U.S. government’s proposed measures aimed at restricting China’s participation in the electric vehicle (EV) supply chain
Bitcoin (BTC) prices were up 13% last week, but our models suggest potential near-term decline of this much
FRC Top Picks
The following table shows last week’s top five performers among our Top Picks, including four junior resource companies, and a tech company. The top performer, Zepp Health (NYSE: ZEPP), was up 45.3%. We had initiated coverage on November 23, 2023. To learn more about Zepp, check out this brief introduction. Our initiating report can be viewed here.
Weekly Mining Commentary
Last week, global equity markets were up 1.3% on average (down 0.1% in the previous week). The focal point of this week is the upcoming meeting of the Bank of Canada. As outlined in our earlier notes, we foresee both the BoC and the Fed choosing to keep their rates unchanged in their forthcoming meetings.