All eyes might be focused on oil's meteoric rise, but pound for pound, it is uranium that's burning up the charts, according to a recent article in Business Edge.
According to the article, written by John Ludwick, the spot price, which hovered at around $15.40 per kilogram or $7 per pound five years ago, has climbed more than fourfold to around $66 per kilogram, or $30 per pound today.
Greg Barnes, an analyst with Canaccord Capital who follows the uranium industry, says he's bullish on uranium.
He credits much of the recent price spike to hedge funds and other corporate entities - such as Toronto-based Uranium Participation Corp., created to invest all of its assets in uranium rather than the exploration and development of the commodity - that are buying large amounts of the ore and holding it long term in speculation of where prices will go.
He credits much of the recent price spike to hedge funds and other corporate entities - such as Toronto-based Uranium Participation Corp., created to invest all of its assets in uranium rather than the exploration and development of the commodity - that are buying large amounts of the ore and holding it long term in speculation of where prices will go..
According to the article, written by John Ludwick, the spot price, which hovered at around $15.40 per kilogram or $7 per pound five years ago, has climbed more than fourfold to around $66 per kilogram, or $30 per pound today.
Greg Barnes, an analyst with Canaccord Capital who follows the uranium industry, says he's bullish on uranium.
He credits much of the recent price spike to hedge funds and other corporate entities - such as Toronto-based Uranium Participation Corp., created to invest all of its assets in uranium rather than the exploration and development of the commodity - that are buying large amounts of the ore and holding it long term in speculation of where prices will go.
He credits much of the recent price spike to hedge funds and other corporate entities - such as Toronto-based Uranium Participation Corp., created to invest all of its assets in uranium rather than the exploration and development of the commodity - that are buying large amounts of the ore and holding it long term in speculation of where prices will go..
