Market's view on Fresnillo
Published on April 2024
- Silver is closely matching its two-year closing high in terms of MXN, potentially reaching a new high, with gold also on the rise.
- Silver is threatening the top of its two-year range once again.
- As the peso falls, both silver and gold prices are benefiting, indicating a best of both worlds scenario.
- A consistency is observed near the top of the two-year range of closing highs for silver.
- Silver’s price movement is closely aligned with historical patterns, suggesting a potential repeat performance that could influence mining stocks like Fres.
- There is a suggestion that silver should retest 500 before the next increase.
- A prediction is made that gold will bottom around 2200 and will not trade below 2000 again.
- Despite significant drops in silver and gold prices, Fresnillo didn’t have a notably bad performance.
- A stark negative outlook is expressed regarding the future prospects of Fresnillo amidst market challenges.
- The recent increase in gold and silver prices is expected to impact financials positively which might appeal to both new and longtime investors.
- There is an anticipation of a significant rally in gold and silver prices from mid-August to December, suggesting a strong year ahead for precious metals.
- Concerns are raised about a potential crash in the market, advising to consider selling off investments.