Uranium stocks down as recession fears return after Obama’s win

- November 6th, 2008

Uranium Investing News and U3O8.biz reports Ux Consulting says uranium spot price moved up another US$1.00 this week, bringing it to US$46 a pound. That’s the second straight rise of US$1 in as many weeks. Spot uranium snapped a long and steep decline last week, as interest from utilities returned and India got ready to … Continued

Uranium Investing News and U3O8.biz reports Ux Consulting says uranium spot price moved up another US$1.00 this week, bringing it to US$46 a pound.

That’s the second straight rise of US$1 in as many weeks. Spot uranium snapped a long and steep decline last week, as interest from utilities returned and India got ready to place orders for uranium, thus boosting demand for the radioactive metal. Just the same, fears of a global recession continue to weigh heavily on the markets. Unfortunately for investors, those slides include uranium and other commodity stocks.

 

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