As supply weakens and demand increases, Scotiabank predicts that base metals will see strong fundamental support in coming months.
Silver claimed its biggest increase in 11 weeks. Backed by technical trading and a weaker US dollar, the white metal was able to climb almost 3 percent.
Gold, silver and copper made gains on the back of US-Syria political tensions. Oil was also up, supported by a decline in global inventories.
Platinum Group Metals Ltd. reported the company’s financial results for the six months ended February 28, 2018 and provided an update on the company’s outlook.
Russian miner Alrosa sold a total of US$595 million worth of rough and polished diamonds last month, a modest increase from February.
Last week’s five top-gaining mining stocks on the TSX were Largo Resources, Corvus Gold, Energy Fuels, Cameco and Ur-Energy.
Last week’s other top-gaining mining stocks on the TSXV were Cornerstone Metals, Cava Resources, PPX Mining and Nevada Exploration.
The gold price edged up on Friday as the US dollar declined after a weaker-than-expected US payroll report. Copper was on track for a weekly decline.
Debswana, a joint venture between De Beers and the government of Botswana, wants to deepen the Jwaneng mine from 650 meters to 830 meters.
In a new report, Metals Focus says it sees the gold price hitting $1,450 per ounce before the end of 2018, spurred upward by a number of key factors.
Rick Rule of Sprott US Holdings says the gold price could receive a boost as escalating trade tensions drive investors to safe-haven assets.
Last week’s other top-gaining resource stocks on the TSX were Teranga Gold, Corvus Gold, Nighthawk Gold and Perseus Mining.