Gold and silver looked sharp on the markets last week, delivering gains across the spectrum of juniors, majors and exchange-traded funds.
Exchange-traded gold funds posted considerable advances between Monday and Friday in particular. The VanEck Gold Miners ETF (NYSEARCA: GDX) climbed more than 21 per cent while its junior gold miners counterpart (GDXJ) advanced 22.4 per cent. GDX had its strongest performance in a single week since 2008.
Silver assets joined the upward move too. The Amplify Junior Silver Miners ETF (NYSEARCA: SILJ) and the iShares Silver Trust (NYSEARCA: SLV) saw gains of 21 per cent and approximately 11 per cent, respectively, as investors sought exposure to the metal. The momentum carried through to large producers as well. Agnico Eagle Mines Ltd (TSE: AEM) (NYSE: AEM) (FRA: AE9) surged 22.9 per cent over the five sessions while Newmont Corporation (TSE: NGT) (NYSE: NEM) (FRA: NMM) advanced 20.5 per cent and Barrick Mining Corp (TSE: ABX) (NYSE: B) (ETR: ABR0) climbed 19.2 per cent. These gains highlighted how mining shares can rise faster than the metal itself when prices strengthen.
Beyond the major indices, North American junior miners outside VanEck’s portfolios delivered striking performances of their own. BCM Resources Corp (CVE: B) (OTCMKTS: BCMRF) jumped up by roughly 246 per cent after releasing strong drill results from its Thompson Knolls project in Utah where one hole cut through more than 550 metres of mineral-rich rock. Additionally, NevGold Corp (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) advanced approximately 14 per cent on the back of continued operational progress at its Nevada gold-antimony assets.
Both metals themselves closed the week on a firm footing, providing the fundamental support for the equity rally. Gold posted a gain of more than 7 per cent between Monday and Friday reaching levels near US$4,350 an ounce, its highest in about two months. Silver performed even better, rising close to 10 per cent over the same period.
The twin advances followed weaker-than-expected United States jobs figures, which made further interest rate increases by the Federal Reserve look less likely and lifted demand for gold and silver. Despite the volatility of these metals, the broad analyst consensus for the remainder of 2026 sees them delivering modest gains and remaining elevated.
Read more: NevGold appoints Nevada government affairs veteran Scott Bensing to board
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