Gold Rocks and Rolls

December 8, 2007 | By | Reply More

Another interesting week for gold which ended at just on $800 an ounce at the NY close on Friday.

Last week we had thoughts that the yellow metal might fall to the $760-770¨ish mark before renewing its upward trend with some commentators gushing on about a drop to $700. In the event gold was $ 11 up on the week while silver, platinum and palladium were down on Friday.

Just goes to show how difficult it is to read the markets particularly at the present time.

With governments being panicked into rate cuts to keep their economies temporarily out of the doldrums and delaying the day of reckoning with seemingly no care for the consequences as the pit gets dug ever deeper, it is heartening to see that the EEC is so far sticking to its guns.

Europe is putting its interest rates where its mouth is by keeping inflation as its top priority. Lip service and sound bites as usual are the rule in the USA and UK.

 

Uranium News

Brazil is planning to begin production of enriched uranium for its two nuclear power plants.

It is expected that about 5 % of the countries needs will be met initially and capacity will continue to grow.

Substantial savings will be made in payments to foreign suppliers and the eventual aim was to be an exporter.

Brazil has one of the world’s largest reserves of uranium. It seems there is no stopping the growth in nuclear power.

 

Titanium News

India is reported to be granting licences for the mining of titanium and to allow up to 100% foreign equity in its extraction and processing.

India is well known for the complex bureaucracy surrounding even the most simple applications for change but with the awareness that the country has excellent reserves of titanium bearing ores and the growing importance of the metal in medical and industrial applications it may come to pass sooner rather than later.

Could give rise to some good early bird investment opportunities.

 

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