Video News/Kitco Mining

The silver price could break to US$50/oz before year-end as technical analysis on the metal shows higher lows John Feneck, Founder & CEO of The Feneck Commodities Report told Kitco mining’s Digging Deep. Higher metal prices would likely see silver produce r and develop stocks soar. “If we have $50 silver, then you would want to be buying silver equities with both hands right now,” said Feneck. Feneck said value investors are starting to cycle into gold, as evidenced by the rising share price of industry leader Newmont, despite it middle-of-the-road performance. “Newmont (NYSE:NEM) was probably the least interesting because their AISC, their on sustaining costs got to $1,550/oz plus, which is higher than the market was expecting. Yet what did we see? We saw the stock go from the mid to low forties all the way down to $52 per share. … The market is starting to shrug off earnings or metrics like that and say, well, Hey, they're still making huge margins here, right? So that's the takeaway is that the last three quarters,” said Feneck. With the Precious Metals Summit in Beaver Creek and the Gold Forum in Colorado Springs investor events taking place in September, Feneck said he expects mergers and acquisitions to be the key talking point.