Daily FNArena News - Commodities

Profit Confidential’s George Leong explains why it still looks too early to get overly excited about gold.

The withdrawal of a large prospective buyer in the spot market saw uranium prices lose their only support last week, leading to a price fall.

Jonathan Barratt of Barratt’s Bulletin remains longer term bullish on gold despite tapering given inflation expectations.

After last week’s price spike, spot uranium steadied this week as the market awaits pricing on a large order.

Uranium is being stockpiled in China, metal prices are subdued and the outlook is mixed, but economic fundamentals are strengthening.

Last September the spot iron ore price suffered an alarming plunge to below US$90/t on seasonal Chinese destocking, but analysts can’t see the same happening again this year.

It’s been a lacklustre year so far for coal and prices are expected to stay under pressure.

Jonathan Barratt of Barratt’s Bulletin is reducing long gold positions, wary of further falls.

The spot uranium price bounced US$1.25 last week as long awaited larger orders hit a market wallowing up to that point.

Jonathan Barratt of Barratt’s Bulletin suggests the Chinese PMI and Beijing’s moves to cut capacity leave copper vulnerable.