'This time is different' for uranium, which could reach $80 in 2023 - Lobo Tiggre
- The uranium spot price, which reached beyond $60 per lb in April, rose over the year by 14 percent. The yellow metal's limited supply and increasing demand will cause its price to rise even higher, said Lobo Tiggre, Editor at The Independent Speculator.
He pointed to supply remaining limited with"voluntary supply constraints," meaning that miners are hesitant to dump uranium on the market, which would bring down prices and hurt profits. "Several [producers] have announced new sales contracts with the United States government," he explained."The prices are [around] $60… This is real data about incentive prices."
"The incentive price is basically everything, kitchen sink in there too, that you need to be able to make money," he said."That means that uranium is unlike almost any other metal or commodity you can think of. It is still below the cost that's required to incentivize its supply to the marketplace."In addition to uranium, Tiggre said that he is"very bullish" on gold and silver.
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