copperoutlook
Rob McEwen of McEwen Mining (TSX:MUX,NYSE:MUX) and Michael Meding of McEwen Copper sat down to speak about the outlook for gold and copper, as well as news from their respective companies. Looking first at gold, McEwen said it has space to move higher in 2024, and pointed to eye-watering predictions from a number of market participants. Citi is calling for US$3,000 per ounce before the end of 2024, while Bloomberg Intelligence expects US$7,000 by 2025. Meanwhile, Pierre Lassonde has given a US$19,000 to US$20,000 target. "The whole sector has been underinvested for quite awhile, and I think it...
Investing News Network
Nick Hodge, publisher at Digest Publishing, shared his latest thoughts on gold, silver, copper and uranium. Speaking first about the yellow metal, he said he sees it maintaining its bullish edge. "Gold is starting to check technical milestones. It's checking technical boxes that tell broader, more generalist investors that gold is emerging from a bear market, and it starts to beget or attract capital simply because it's going up," Hodge explained. While silver is currently lagging behind gold, it's starting to move based on a shift in perspective. "What's happened is that silver is being treat...
Investing News Network
Copper prices broke US$10,000 per metric ton this week, hitting highs not seen in two years. The last time they crossed the threshold was in March 2022 amid tensions following Russia's invasion of Ukraine. Although concerns about demand from China remain, worries over dwindling global supply are heating up. Copper has also been gaining momentum on anticipation of interest rate cuts from the US Federal Reserve. Looking at supply, Goldman Sachs (NYSE:GS) has warned of intensifying stress, with analysts at the firm projecting a possible "stockout episode" by the fourth quarter due to growing defi...
Investing News Network
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