(Kitco News) – Gold is holding in the $3,100 to $3,400 range, and producers are reporting some of their strongest results in years. “We’re in a bull market,” said John Feneck, Founder and CEO of The Feneck Commodities Report, in his latest interview with Kitco Mining.
Second-quarter earnings reinforced that view. Barrick, Newmont, Agnico Eagle, and Kinross all posted significant profit gains, while Artemis Gold reported $100 million in its first quarter of commercial production at the Blackwater mine in British Columbia, supported by one of the lowest all-in sustaining costs in the sector.
Policy measures in the U.S. are also providing support. The Fast 41 program is advancing projects such as Paramount Gold’s Grassy Mountain and Equinox Gold’s Castle Mountain. The Trump administration recently announced $1 billion in funding for critical minerals, a move Feneck described as “just the beginning” of broader efforts to strengthen supply chains.
“Regardless of your political affiliation, you can’t deny that Trump, with his executive order in March, kicked things off,” he said, noting that measures in April and May helped highlight mining projects to investors. “This billion sounds great on paper, but it’s just the beginning, which is so exciting for investors of stocks like this,” Feneck said. “This is the time you go for it.”
Mergers and acquisitions are further driving momentum. Mitsubishi invested $600 million in Hudbay’s Copper World Project in Arizona, Alamos Gold expanded its Nevada presence, and Barrick continued to streamline by selling non-core assets. In the Yukon, juniors, including Triumph Gold and Fireweed Metals, are attracting interest for their gold, silver, and tungsten potential.
Watch the full interview with John Feneck for his complete outlook on gold, copper, and critical minerals.