Daily FNArena News - Commodities

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.

Chinese zinc exports are expected to drop off in the near term but substitution is rife in the nickel market.

Natexis Commodity Markets suggests gold is not the only previous metal with a bullish outlook, suggesting there is still upside in silver and the platinum group metals.