Monday
Oct292007
Uranium: Spot Price Up another $4.00 to $84/lb
Monday, October 29, 2007 at 09:27AM 
That Monday morning feeling should be lightened a little by the news that the spot price for uranium is up again by $4/lb for increase of 5%. According to TradeTech LLC "Renewed buying interest on the part of speculators and hedge funds is contributing to the upward price pressure,"
The price of uranium has now ticked up over the last three weeks which is an encouraging sign and should bode well for those invested in uranium stocks. As always though keep an eye on the long-term uranium price and don’t go too mad on the weekly oscillations of the spot price. To repeat this is a very thin market, which can be pushed up or down by the immediate needs of an end user or the cash requirements of an investment fund.
Over in the futures corner the price for December delivery is $92/lb however for most of the remainder of 2008 the price is $81/lb.
Those of you who held on through the summer battering should be sleeping a little easier now.
Have a good one.
If you are new to this web site and would to receive our free newsletter then please click this LINK.
Reader Comments (4)
spot price has risen to $90.
Uranium is ready for the comeback!
pho, Where did you get this information from?
Bloomberg. :)
cheers!