Newmont Corporation (NEM: NYSE)

Newmont (NEM) stands to benefit significantly from the ongoing bull market in gold. With gold prices rising sharply in 2023 and continuing their upward trajectory into 2024, analysts like J.P. Morgan predict prices could reach an average of $2,500 per ounce by the end of the year. As the largest gold miner globally, Newmont is in a prime position to capitalize on this momentum, with an expected gold production of 6.9 million ounces in 2024.

Additionally, the acquisition of Newcrest in November adds further strength to Newmont’s portfolio, enhancing its global presence and unlocking $500 million in pre-tax synergies over the next two years. The company also expects to achieve $2 billion in cash improvements through portfolio optimization, boosting its attractiveness as a top gold investment.

We are bullish on NEM above $48.00-$49.00, with an upside target of $78.00-$80.00.

Bitcoin (BTCUSDT)

On the daily chart, BTC has been trending down from its highs in March. While it’s currently holding support, it seems likely that it will revisit the rising trend at some point. A key level to keep an eye on is $55,800, which could provide insight into BTC’s next move.

Ethereum (ETHUSD)

Ethereum had a tough week, closing with a 10% loss. The price briefly dipped below $2,400 and is now attempting to reconfirm this level as support. If it fails to hold, sellers may have an opportunity to push the price lower. The weekly candle wiped out all the gains from September, turning the market bias bearish. While Ethereum has not made a lower low yet, it’s on the verge of doing so, making the coming days crucial for the remainder of the month.

Looking forward, if Ethereum continues to show weakness, the price could drop to $2,200. However, if buyers return, there is potential for the price to recover towards $2,500.