Uranium Prices To Remain Volatile For This Year

February 10, 2009 | By | Reply More

Uranium Ux308 spot market price stays around US$47 per lb. A spokesman at the mining conference in Cape Town suggests that uranium prices will remain volatile for the remainder of the year.

Peaking at over $130 per lb. in the middle of 2007, heavy selling by hedge funds taking profits as they struggled to gain liquidity to meet redemptions was a significant contributory factor as the price fell dramatically throughout the following eighteen months.

2008 also saw renewed interest by countries around the world in nuclear energy facilities as they faced up to the anticipated shortage, and for a while the surge in costs, of fossil fuels.

The spokesman also said that renewed investor interest could result in a faster price recovery.

The uranium outlook remains uncertain but for the present it looks like a bottom has been reached however it is anybodies guess when a break out is likely to occur.

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Category: Uranium

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