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.