Daily FNArena News - Commodities

TradeTech lowered to US$85/lb but peer UxC has kept its own weekly spot price indicator at US$90/lb.

Spot uranium has registered another price decline, dismissing hopes support at US$95/lb would hold up the price for U3O8.

After flat output for much of the last year Australian gold production rose slightly in the June quarter and industry consultant Surbiton Associates sees scope for further gains.

US utility Exelon has reportedly bought U3O8 in Niger in a deal that thus far triggers more questions than answers.

This week’s spot price indicators for U3O8 have been set at US$95 and US$90/lb respectively.

Industry consultant TradeTech has kept its weekly spot price indicator US$5 above last week’s shock release by peer Ux Consulting.

Commodity & Energy strategists at BCA research are of the view that sheer euphoria has been replaced with overdone pessimism in the uranium sector. A recovery is on the cards, they believe.

Despite the credit crunch, commodity investment instruments are holding their own.

GFMS has released its second quarter report into gold market dehedging.

While industry consultant TradeTech kept its weekly uranium spot price indicator unchanged at US$125/lb, UxC dropped its own indicator to US$90/lb.