Daily FNArena News - Commodities

The only way for spot gold remains up, experts and market commentators believe, and firmly so.

Spot U3O8 took a breather this week. Meanwhile more and more experts are cutting their price forecasts for uranium, and target prices for producers.

Credit Suisse prefers gold and platinum above silver and palladium.

With OPEC to meet this week there remains uncertainty over the outlook for oil prices, the market currently tightening but OPEC not certain to lift production.

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.