Daily FNArena News - Commodities

The Chinese authorities have announced a plan to build a third strategic stockpile of commodity reserves: uranium will soon be joining grain and crude oil.

That the US dollar is weaker is not enough to justify gold’s recent performance, according to lateral thinkers GaveKal.

The IMF has again come under pressure to sell its extensive gold holdings, while a Sunday Times article has refocused attention on manipulative British gold sales of 1999.

Molybdenum is not just a tongue twister. With demand increasing for its use in applications from steel alloys to catalysts, the moly market could just about be set to explode.

The copper market seems ripe for a serious price pull back, experts say.

April’s auction at Mestena’s Corpus Christi headquarters saw some fierce bidding and spot uranium surging to US$113/lb.

Silver champion Ted Butler has again espoused the virtues of owning silver over gold and other investments as a long term trade. Substantial Comex short positions only add to his resolve.

A resolution in Iran and more central bank selling has not deterred gold as it breaks back out of its recent trading range.

Industry consultant GFMS has released its Gold Survey for 2007, the group suggesting conditions remain in place for gold to go above last year’s high and beyond.

The discovery of a big uranium deposit in South Australia has all the hallmarks of a new hype, being touted “the biggest uranium find in 25 years”.