In recent years, Uranium ETFs have seen remarkable growth, leading one analyst to believe that they have the potential to become the next big industry. Eric Balchunas, a senior ETF analyst for Bloomberg, has observed that Uranium ETFs have grown 20 times over the past three years. This surge can be attributed to the rising demand for nuclear energy , which relies on uranium as its source.
Nuclear energy is a valuable source of electricity that is both carbon-free and cost-effective. In fact, in 2020, it accounted for approximately 10% of the world’s total electricity production, surpassing the combined generation from wind and solar sources. As the global need for electricity continues to rise, Balchunas predicts that nuclear power generation will have to significantly increase to meet the world’s net-zero emissions goals. This, in turn, could create a supply deficit in uranium.
From a technical analysis standpoint, the Sprott Uranium Miners […]
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