Post by
apapas1973 on Jun 14, 2023 11:58pm
Nickel price starting to show strength again.
It's a shame the price of nickel has taken a bit of a beating lately but it's now again starting to poke it's head above $10. Low 9's isn't going to cut it for the low grade mines. However I'm of the belief that the price of nickel will have its day. Once the US dollar has its last run up here. All commodities are priced in US dollars so generally speaking a high dollar makes it more expensive for the purchase of commodities in other currencies. And a lower dollar has the inverse effect. You'll often notice the price of commodities drop when the dollar rises.
Keep in mind we don't want a sky high nickel price. All that's going to do is set us up for a collapse. We need a realistic price. One that's not going to make EV batteries completely unattainable. $12-13 would be a nice sweet spot. Nickel will see some resistance around 11.50. Once it busts through that, it'll have a good run. That should light a fire under some of these juniors. GLTA