The recent action by the ECB appears to have caught many gold bulls off guard. A common interpretation of the impact that a potential quantitative easing program would have on gold prices was that it would be very bullish. This argument was based on the concept that money printing is bullish for gold, and that QE1 and QE2 by the Fed triggered major rallies in the yellow metal. Whilst we do not dispute that QE1 and QE2 by the Fed were indeed bullish for gold, we strongly disagreed that the ECB would introduce a program that would spark a major rally. In fact we went further, predicting that what the ECB was going to do was in fact highly bearish for gold, and in this article we will endeavour to explain why.
Despite the title of this post Uranium does get a mention:
Today one of the wealthiest people in the financial world told King World News that the take downs in the gold, silver, oil, and uranium markets will end badly for the bears. Rick Rule, who is business partners with Eric Sprott, also discussed why he is so incredibly bullish on the metals and energy.
If deal goes through, it will enable Uranium sales by Australia to India
Australian Prime Minister Tony Abbott arrived in New Delhi Thursday on a two-day visit during which both countries will look at ways to deepen strategic ties and strengthen bilateral trade and commerce.
The big-ticket item on the agenda, however, is the likely signing on September 5 of a long-pending civil nuclear agreement that will smooth the way for uranium sales to India.
On 18th August, stocks were well off their highs and headlines were riddled with concerns about Europe and the Ukraine. We bought March 2015 calls on the S&P 500 ETF SPY, with a strike price of $215 for $0.83.
Just 7 days later the stock market had soared to new highs and we sold the calls at $1.24, banking a profit of 49.40%!
Through careful timing and analysis of both the fundamental and technical factors at play, we were able identify what we believed was a prime trading opportunity where the risk reward dynamics were strongly in our favour.
In our update sent to the subscribers of SK OptionTrader that week we said;
Chart courtesy of u308.biz
Uranium increased the most in more than 2 1/2 years after Cameco Corp. (CCO) moved to temporarily shut its McArthur River mine, the world’s largest source of the nuclear fuel, amid a dispute with workers.
The price of U3O8 -- a tradable form of uranium -- rose 3.2 percent
Several months ago, when Russia announced the much anticipated "Holy Grail" energy deal with China, some were disappointed that despite this symbolic agreement meant to break the petrodollar's stranglehold on the rest of the world, neither Russia nor China announced payment terms to be in anything but dollars. In doing so they admitted that while both nations are eager to move away from a US Dollar reserve currency, neither is yet able to provide an alternative.
This changed in late June when first Gazprom's CFO announced
Pattern Energy Group Inc (PEGI:US), the developer of Chile’s biggest wind farm, plans to proceed with a solar plant in the top copper-producing nation’s Atacama Desert.
Pattern received an environmental permit for one solar project in Chile and is interested in developing more renewable-energy plants in the country, Chief Executive Officer Michael Garland said in a telephone interview today.
The industry ministry has proposed a system to support nuclear power generation by setting standard rates for electricity generated with atomic energy.
When the power retail market is liberalized from 2016, electricity will start being traded in a free market.
Closure of Three Nuclear Power Plants Leaves Government Fearing Winter Energy Crunch
BRUSSELS—Belgian authorities are racing to map out emergency plans in case of a severe energy crunch this winter. The country could face energy shortfalls in the depths of winter after the sudden closure of three major nuclear power plants over the past months.