American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Investing

Gwen Preston: Gold Gearing Up for Next Move, Safest Bets in Uranium

by admin February 2, 2024
February 2, 2024
Gwen Preston: Gold Gearing Up for Next Move, Safest Bets in Uranium

‘I think the next move up in gold is going to require the rate cut — we’ve had the expectation of the rate cut built into the price, that’s why we’ve gone up to new highs,’ she said at the Vancouver Resource Investment Conference (VRIC). ‘But we’re still really in that sideways trend … I think actually breaking through it will require the rate cut.’

Looking over to uranium, Preston said that although the price has moved substantially in recent months, the commodity’s supply/demand dynamics are such that it could ‘easily’ jump to US$140 per pound overnight.

In terms of supply, uranium has become a seller’s market. While companies are working to bring new mines online and restart idled production, the process won’t be quick. She sees some relief coming from hedge funds that bought uranium at low prices and are now ready to sell, but emphasized that the volumes they’ll be able to provide will be small.

There’s also the east/west divide in the sector. Preston noted that the US Senate is likely to approve a ban on Russian uranium imports — and if that happens, Russia will probably preemptively cut off sales of the material to the US.

‘There just isn’t supply … despite a few little setbacks that maybe create a trading range for a little while here to stabilize this huge price run that we’ve seen, I think (the price) will still go higher. I’m very confident that the price is going to end 2024 higher than the insane price that it began the year at. Because it’s not actually insane. It’s a valid representation of the lack of this essential commodity that the utilities need,’ she explained during the conversation.

In Preston’s view, the safest uranium stocks right now are those with growing US production — those include Uranium Energy (NYSEAMERICAN:UEC), enCore Energy (TSXV:EU,NASDAQ:EU) and Energy Fuels (TSX:EFR,NYSEAMERICAN:UUUU).

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

0
FacebookTwitterGoogle +Pinterest
previous post
FPX Nickel Announces Full Exercise of Participation Rights by the Company’s Three Strategic Investors and Completion of Resultant Private Placement
next post
Awale Resources Limited

Related Posts

Best Cathie Wood stocks to buy and hold...

January 19, 2025

How to Invest in Rare Earths

May 3, 2024

Crypto price predictions: Zebec Network, Hedera HBAR, Ethena

August 2, 2025

ULTY ETF is a 117% yielding fund, beating...

September 17, 2025

Biotech Stocks: 5 Biggest Companies in 2024

April 11, 2024

Top 3 best ETFs for value investors in...

December 21, 2024

Top 4 Ethereum crypto coins to buy and...

May 9, 2025

Opera stock price is rising: could OPRA jump...

November 21, 2024

Blockchain & Digital Assets Virtual Investor Conference: Presentations...

April 27, 2024

Solana price prediction: bullish flag forms as stablecoin...

July 2, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • Europe bulletin: Manchester synagogue attack aftermath, stocks close higher

      October 5, 2025
    • Evening digest: Trump sets deadline for Hamas, Canada’s slowdown, BTC rebounds

      October 5, 2025
    • Iran executes six people for alleged links to Israel, state media reports

      October 5, 2025
    • US digest: Trump’s Hamas ultimatum, government shutdown stalemate continues

      October 5, 2025
    • Japanese stocks may extend record run as Takaichi win revives ‘Abenomics’

      October 5, 2025

    Categories

    • Business (4,191)
    • Investing (2,958)
    • Latest News (2,080)
    • Politics (1,536)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved