A couple of news items emerging this week critical to some of my recent themes.
First, in uranium. Where it appears that momentum from reactor approvals I discussed the last few weeks is gaining speed.
The pickup in sentiment in this market is evident in the uranium price. Which this week moved up significantly for the second week in a row—hitting $44 per pound, according to industry analysts UxC.
That gives the metal a gain of $8 over the past few weeks alone. All coming since the Japanese town of Satsumasendai voted to approve the restart of two nuclear reactors—and the regional government assented.
Importantly, this now puts the uranium price at its highest level since January 2013. With the metal now up nearly 60% since the low of $28 per pound it saw in June.
Watch the price (www.uxc.com or www.uranium.info) over the coming weeks to see if the rebound continues. If so, uranium stocks will likely go along for the ride as well.
The other point of note comes from the gold market—where it appears we’ll have to wait for news on new import rules in India. But perhaps not long.
As I’d mentioned last week, officials in that key gold-consuming nation were meeting last week to talk about imposing new curbs on bullion imports. But reports in the local press suggested no immediate results came from those discussions.
Rather, officials said they are continuing to appraise the situation.
But stories have been swirling in the press this week saying that the Reserve Bank of India is pushing for tougher rules on imports. Leading to speculation that new curbs could be announced any day now.
Watch the local press (www.economictimes.indiatimes.com (http://piercepoints.com/ ) is one of the best) for announcements. And of course keep an eye on the gold price, for any reaction to new moves in this critical market.
Here’s to staying updated,
More Top Reads From Oilprice.com:
- This Small-Town Vote Could Be A Boost For Uranium
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