BlackRock Bullish on Antimony, Gold's Key Technicals: $3,700 Next?, Drilling Holes in Junior Mining's Problems

Featured Article this week:

• 🔒 BlackRock Bets Big on UAMY
  BlackRock increased its stake in United States Antimony Corp (NYSE: UAMY) by 1.83 million shares, signalling strong institutional confidence in the only U.S. producer of antimony—a critical mineral used in defense, batteries, and solar tech.

• 🔧 Smelter Expansion = Game Changer
  UAMY is expanding its Montana smelter sixfold (to 300+ tons/month) for under $15M, aiming to reduce reliance on foreign supply just as China tightens exports. Talks with the U.S. Department of Defense further highlight national strategic importance.

• 📈 Wall Street Bullish Despite Risks
  Analysts like Alliance Global and B. Riley have issued buy ratings and price targets up to $5.25 (40%+ upside). Risks remain—like commodity volatility and supply chain gaps—but heavyweights like Vanguard and Geode are also piling in.

Gold Holds Strong Above $3,200 – Is a Breakout Brewing?

After bouncing off $3,200 support, gold is consolidating with bullish pressure building. A clean breakout above $3,500 could open the door to a run toward $3,700+ as technical momentum and macro tailwinds align.

🌟 Gold: Holding the Line Above $3,200

Gold surged to a record high of $3,330/oz this week before retracing—but the pullback may just be a breather.

The $3,200 level is acting as a strong support zone, reinforced by the 50-day EMA, which has held firm since February. On the upside, $3,500 remains the key resistance to watch—a psychological barrier that’s also seen heavy options activity.

With continued central bank accumulation, rising geopolitical tensions and a weaker dollar outlook, the yellow metal remains in a bullish consolidation. Traders are eyeing a breakout if gold can hold this range and push above $3,500 with volume.

📈 If $3,500 breaks, momentum could drive gold toward $3,700–$3,750, a zone of projected Fibonacci extensions and bullish price targets cited by technical analysts. Beyond that, new highs could come quickly in a market with limited overhead supply.

📊 Key Levels:
Support: $3,200 (50-day EMA)
Resistance: $3,500 (psychological + options wall)
Trend: Consolidation within long-term uptrend

Market Snapshot This Week:

🔴 Tech & Healthcare Dragged the Market Down

• GOOG (-6.36%) dropped sharply after Google’s I/O event failed to impress investors amid growing AI competition from OpenAI and Apple.

• AAPL (-3.12%) sold off as reports emerged that Apple may shift default search away from Google, disrupting ad revenue expectations.

• LLY (-8.46%) and MRK (-6.49%) fell on concerns that the U.S. Senate may revive drug pricing legislation, which would hurt margins across big pharma.

🟢 Semiconductors, Tesla, and Gold Miners Led the Gains

• TSLA (+5.30%) rebounded after CEO Elon Musk reassured investors about production growth in China and upcoming robotaxi announcements.

• NVDA (+1.90%), AMD (+3.96%), and TXN (+4.28%) climbed as AI chip demand remained strong, with bullish analyst reports driving momentum.

⚖️ Mixed Financials, Defensive Pullback

• BRK-B (-5.08%) sank following earnings that missed analyst expectations and concerns around insurance underwriting margins.

• V (+1.12%) and AXP (+2.54%) climbed as consumer spending remained resilient, while WMT (-1.97%) and PG (-1.26%) slipped on retail margin worries tied to input costs.

Top Viewed Articles this week:

Thanks for reading this week's newsletter!

We appreciate you taking the time to stay informed and ahead of the game.