As June gold prices hit record, uranium stayed in cellar–Scotiabank

Mineweb.com reports on Pat Mohr, a Scotia Bank economist comments on the struggling uranium prices and “all time high” gold prices.

In her analysis, Mohr observed that gold prices hit an all-time high of US$1,265.30 per ounce on June 25th as investors worried over the integrity of paper currencies, due to high government debt in the Eurozone, the United States and Japan.

However, spot uranium prices continue to trade at low ebb, inching up again to US$41.75 per pound in late June.

Pat Mohr, Scotia Bank Economist says:

“Prices continue to be dampened by a low level of ‘uncovered utility requirements in the West, concern over further production gains in Kazakhstan and the barter of U.S. Department of Energy UF6 inventory to pay for an environmental cleanup at a closed Ohio uranium enrichment plant.”

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