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« Khan Resources: Consolidating and Preparing for Another Rally | Main | Opportunities in Gold and Silver Mining Stocks »

Uranium Spot Price Slips Again: $129/lb

There must be a Purchasing Supply Managers Annual Conference going on in a really nice location with a beach, golf and of course the finest wine. We know that we are trading a thin market and that the summer doldrums are upon us but this is like watching paint dry.

According to the weekends proclamations from the Nuclear Market Review uranium suffered a US$4 drop in the spot uranium price to US$129/pound, along with the comment “The spot uranium price remains under downward pressure.” Followed by “Two new sellers made discreet inquiries in an effort to sell material this week.”

We draw your attention to the word ‘Two’ eminating from this we can deduce that a mere handful of buyers and sellers acting in a discreet manner actually provide us with a basis for a new spot price. It couldn’t be more flimsy, could it? So, as investors we have to dig a little deeper than the current spot price as it can be pushed up or down by a handful of speculators trying to make a quick buck at any given time. We have nothing against this practice, if you can trade in and out of any situation quickly and make money then well done.

The point to note is aptly recorded in a recent article by James Finch and Julie Ickes of when they wrote “the long-term uranium price remains firm at US$95/pound” These longer term indicators help to put into perspective the daily oscillations created by the short term traders.

Keep an eye on the long-term number and don’t be put off by the white noise.

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