Uranium’s Secret Comeback

Filed in BP, copper, Gold, GOld juniors, Gold Market, lead, o, outperform, silver by on December 28, 2010 0 Comments

Precious and base metal prices hit record highs in 2010, as economic uncertainty rattled the globe. We saw gold breach $1,430 an ounce and silver top $30/oz during the fourth quarter of the year. Meanwhile, base metals like copper and nickel also rallied in the final quarter of 2010. But there is another metal— outside of the precious and base metal families — that will wrap up the year outperforming most others… I’m talking about uranium. In the past eight weeks, the price of uranium has jumped 19.4%; since October, the radioactive metal is up 30.9%. Take a look: Manufacturers, academics, and analysts agree that the long-term fundamentals for uranium prices continue to be compelling. The International Atomic Energy Agency estimates that in addition to 436 reactors now operating in the world, there are 56 under construction and 200 more planned. Those nuclear reactors are responsible for 15% of the world’s electrical power generation — and that number is increasing. China alone is expected to double its uranium purchases to around 5,000 tonnes this year to build stockpiles for new reactors, according to Thomas Neff, a physicist and uranium industry analyst at the Massachusetts Institute of Technology in Cambridge. The rapidly increasing worldwide demand for uranium has prompted most

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Uranium’s Secret Comeback

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