Favorable Outlook for Uranium and Bitcoin / Gold Holds Firmly Above $2,500/oz

Key Highlights

• Last week, metals prices and the S&P 500 continued their rally, driven by cooling inflation and dovish comments from the Fed, which also contributed to a weaker US$ and lower yields.
• Shares of a copper junior under coverage were up 15% last week
• Good news for uranium juniors
• Gold prices are holding firm above US$2,500/oz, but producer valuations are 9% lower than the past three instances when gold surpassed US$2,000/oz.
• With all five key statistical indicators pointing to potential strength, our near-term outlook for Bitcoin (BTC) has improved. Our model accurately predicted last week’s price increase.