Red-Hot Resources

"Luck is not chance, it’s toil; fortune’s expensive smile is earned.”

Tuesday, April 10, 2007

Chart of the Day: Uranium Zooms!

Here is the chart of the day -- one of the uranium stocks in the Red-Hot Australian Small-Caps portfolio.

All our Australian uranium stocks are on fire. Why? Well, the latest auction of the white-hot metal saw the spot price of uranium oxide (U3O8) soar $18 to $113 per pound. Not only is that a 19% rise in just one week. According to Nuclear Market Review, it’s the largest single weekly price increase since uranium has been tracked!

Also, the Australian Labor Party is meeting this month and will likely overturn its "three-mines" policy on active uranium mines. The stock above will likely have Australia's fifth active uranium mine if things go as planned.

And now for some news you can use ...

Nickel, Lead Rise to Records; Copper at 7-Month High on Demand From China Nickel and lead rose to records on the London Metal Exchange, and copper advanced to the highest in seven months on rising demand from China, the world's largest consumer of all industrial metals.

Gold Gains in London as Dollar's Decline May Buoy Demand; Silver Advances Gold rose on speculation declines in the dollar will spur investor demand for the metal as an alternative to stocks and bonds. Silver gained.

China's Copper and Product Imports Increase 61 Percent to Record in March China's imports of copper and copper products rose to a record in March as traders in the world's largest consumer of the commodity took advantage of cheaper overseas prices to meet domestic demand.

Gold price gains as Aussie dollar zooms SYDNEY (Reuters) - Gold rose on Tuesday, the first day of trade in many markets following public holidays, with investors in Australia buoyed by new-found clout in currency markets.

OPEC chief expects gas prices to grow, says cheap gas history ABU-DHABI, April 10 (RIA Novosti) - The current chairman of the international oil cartel, OPEC, further heightened gas consumer concerns Tuesday by saying natural gas prices might rise in the future.The statement follows a forum of the world's leading gas exporters in Doha Monday, which decided to set up a committee for coordinating gas prices. Experts saw the move as the first step toward an OPEC-style gas cartel.

Labels: , , , , ,

Check out my new gold and energy blog at