Daily FNArena News - Commodities

Uranium producers are in the box seat as buyers clamour for the tidbits on offer.

Analysts suggest the oil market remains tight, but capacity exists to avoid sudden price shocks.

Highly respected technical chartist and author of the Dow Theory newsletter, Richard Russell, has agreed that the gold price should be much, much higher.

Credit Suisse believes precious metals are showing upside potential from here, while base metals may waver before rallying later in 2007.

The U3O8 spot price hasn’t moved much so far this year but an auction this week could well make the difference.

National Australia Bank suggests investors become more selective in their metals exposure as differing fundamentals are creating divergent outlooks.

More analysts are joining the chorus that the oil price must eventually head lower – perhaps back to US$30/bbl.

China’s largest nuclear power plant construction company is signing agreements to invest and explore for uranium outside the country. It’s getting crowded out there.

GoldMoney’s James Turk believes there is a good chance US$600/oz for gold will never be seen again.

Last week saw no deals concluded and thus no change to the spot uranium price but market experts believe prices are set to run up further, and soon.