Uranium hits $74, standing firm at 12-year price high
Commodities - NOVEMBER 17, 2023

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Uranium hits $74, standing firm at 12-year price high

by Andrea Zander

While other commodities suffered in October largely due to China’s economic weakness, a persistently strong U.S. dollar and other macroeconomic factors, uranium continues to demonstrate its lower economic sensitivity, according to Sprott in a recent report.

The U3O8 uranium spot price gained 1.51percent in October, increasing from $73.38 to $74.48 per pound as of Oct. 31. Uranium has posted a 54.16 percent year-to-date return as of Oct. 31, and continued to show strength and diversification relative to other commodities, which declined 7.

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