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« News Flash: Uranium Futures trading at $140.00! | Main | Uranium-stocks: Bounce back »
Saturday
May052007

Uranium Price hits $120

Uranium Price hits $120

There are reports that suggest the uranium price has risen yet again to $120/lb.

We are still awaiting the official confirmation on TradeTech’s website and the weekly sport price that is set every Monday.

Until then of course, these are still just reports but in Nuclear Market Review (NMR), TradeTech’s weekly publication;

“Bids were made through a variety of channels, including postings on New York Nuclear’s Uranium On-Line,”

“Sellers were unresponsive and buyers were unable to conclude purchases by week’s end.”


As a result of this, the weekly U3O8 spot price indicator was increased to US$120/pound and all time high!

This should have a fairly good impact on uranium stocks, but then again it could result in a slight drop in the classic “Buy the Rumour, Sell the News”, although many uranium stocks have been going through a slight sell off recently.

However, in the longer term, higher uranium prices are of course better for all uranium stocks.

What do you think about the latest rise in uranium prices?


Footnote: For those of you who wish to vote on the various polls on the forum, such as this one, please ensure that you are logged in before you attempt to vote, otherwise you will be unable to cast your vote in the poll.

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Reader Comments (8)

When something you know is great sells off a bit, it's not a biggie. If you really know your stocks and their potential and the market, if some fools sell on the news, hey, so what. I hold gold and silver in spades, so I'm used to waiting, although I'm smiling with nickle and platinum group metals of late. Still, last year at this time I was having fun, too--and then the selloff. But if making money were easy, everyone would do it.

I've held URRE for a couple of years and have made money, also Bayswater, and now Pele Mountain is starting to move a little.

May 6, 2007 | Unregistered CommenterGMiki

We think that this summer could be a hot one for Gold, Silver and Uranium stocks, only time will tell!

May 6, 2007 | Unregistered CommenterUranium Stocks

The most interesting turn of events in my opinion is the upcoming futures market in uranium. Commercials vs speculators. Does the ultimate power to move the price side with the end users (power companies,hedgers)of the material? Who has the most $ for puts and calls? Supply and demand. Of what value is an undelivable commodity? Although I suppose it is ultimately delivered as electricity to the consumer. How large or small is the market relative to the average investor and consumer. Certainly humans require energy more so than precious metals. The volatilty may exceed that of the silver market. Perhaps a uranium etf is on the horizon. ahhh, the speculation of speculation. An interesting development indeed.

May 6, 2007 | Unregistered CommenterRobert

We just can't wait - the excitement builds!

May 6, 2007 | Unregistered CommenterUranium Stocks

Ok. here's my take for what it's worth: I think the
the uranium stocks follow the general stock market
pattern more closely than the commodity. Many are
expecting a correction in the markets and I wonder
because the expectation is so high that it may not
arrive as planned. Maybe it will be postponed. If it
corrects even 5%, the uranium complex could correct
hard. When it's over, there is likely to be another
large move up this year and probably soon. I just
think the correction in the uraniums that began in
April and for some has continued is sniffing a
correction in the general market. In addition, there
has been alot about uranium in the general media which
likely bodes well for some consolidation or even a
further testing of the lows in the short term but I
don't think it's the beginning of the end since the
general public still is highly suspicious of the
technology let alone willing to embrace it in their
portfolio. That has yet to occur. Notwithstanding, we
are probably at the point where you won't make money
investing indiscriminately in this sector any
longer.---

Mark

May 7, 2007 | Unregistered CommenterMark

The NYMEX uranium futures for June 2007 opened today @ $132.50 then proceeded to $$135 and are now @ $140.00. DNN is up %9.00 @ 13.48, URZ is up %4.oo @ $7.30. SGCR is up %8.00 $1.03. Somethings happening here.
Robert

May 7, 2007 | Unregistered CommenterRobert

This is going to be some week!

May 7, 2007 | Unregistered CommenterUranium Stocks

Uranium Participation is up 4.23% too.

May 7, 2007 | Unregistered CommenterUranium Stocks

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