Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Investing

Editor’s Picks: Gold Breaks US$2,000, Uranium Passes US$80 for First Time in 15 Years

by November 26, 2023
November 26, 2023
Editor’s Picks: Gold Breaks US$2,000, Uranium Passes US$80 for First Time in 15 Years

Gold broke the US$2,000 per ounce mark again this week, drawing strength ahead of the US Thanksgiving holiday. Factors buoying the metal include a 2.5 month low in the US dollar on Tuesday (November 21).

The currency did get some support later that day after the release of the US Federal Reserve’s latest meeting minutes. The summary shows that while officials continue to keep a close eye on inflation, they plan to proceed carefully.

Most market watchers are not expecting further interest rate hikes during this phase, and CME Group’s (NASDAQ:CME) FedWatch tool shows that a cut isn’t widely expected until May 2024.

The Fed has consistently reiterated its 2 percent inflation target, and last week’s consumer price index (CPI) data shows prices were up 3.2 percent year-on-year in October, although they were unchanged month-on-month. Core CPI, which excludes food and energy, was up 4 percent from the year-ago period and 0.2 percent from September.

The central bank’s next meeting is set to run from December 12 to 13.

Sprott’s Ciampaglia talks uranium price

Gold isn’t the only commodity that’s been making moves. Uranium continues to power steadily higher, and this week the spot price passed US$80 per pound for the first time since 2008.

I heard recently from John Ciampaglia of Sprott Asset Management, who said the sector has entered its next phase, but is still early in the current cycle. He also weighed in on where the price may go next, saying that while people shouldn’t invest with the expectation that uranium will spike, there are reasons to believe it could.

Here’s how he explained what’s happening with the price of uranium:

Why people anchor on to this spike theory is because it is a very concentrated supply chain. You have one country that produces 45 percent of the world’s uranium — it’s like the equivalent of having a single country (with the) power of OPEC. So it is a highly concentrated supply chain. When you add in all the other countries … like Uzbekistan and China and Russia, they control a pretty significant size of the overall global production. And then more recently we’ve had a coup in Niger, which is another country that produces 4 percent of the world’s uranium.

People focus on this risk that if there’s a disruption in any of those countries we could have a short-term squeeze or a supply crunch. And that could cause the price to spike.

Stay tuned for the interview with Ciampaglia, which we’ll be posting next week. And if you want to know more about today’s uranium landscape in the meantime, check out our playlist from the New Orleans Investment Conference — it includes great conversations on uranium with experts like Rick Rule, Lobo Tiggre, Gwen Preston and more.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com
0
FacebookTwitterGoogle +Pinterest
previous post
Russia launches largest drone attack on Kyiv since start of war, injuring 5
next post
Obama-era deal to allow Hamas office in Qatar backfired on US: experts

Related Posts

Crypto Market Recap: Australia to Start Crypto Pilot...

March 24, 2025

Robotics Stocks: 7 Biggest Companies

November 23, 2023

5 Top Weekly TSXV Stocks: Aurania Resources Jumps...

July 10, 2023

Skyharbour Announces Additional Uranium Property Staking Increasing Total...

August 2, 2023

How to Invest in Nickel (Updated 2023)

September 19, 2023

Highlights from NVIDIA’s GTC 2025 Keynote

March 22, 2025

Economics of the Copper Scrap Market (Updated 2023)

September 1, 2023

Gidji JV Exploration Update

May 3, 2024

Is Quantum Computing the Next Big Tech Trend?

February 6, 2024

Nordic Nickel

July 5, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

    • Lithium Market Update: Q3 2025 in Review

    • Despatch of SPP Offer Documents

    • Crypto Market Update: FalconX to Buy 21Shares, Senate Democrats Call Out Trump Envoy

    • Apollo Silver

    • Blackrock Silver Commences Phase 2 Hydrology Program, Geotechnical Evaluation and Seismic Survey on the Tonopah West Project

    Categories

    • Business (1,401)
    • Investing (3,062)
    • Politics (3,699)
    • Stocks (1,828)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved