Uranium Market Shows Strength During Month of January

Tailwinds were swiftly blowing behind the uranium markets during the month of January, according to a Sprott report . If the trend continues, consider getting exposure via ancillary services that support the uranium market, such as mining.

“January was a strong month for uranium markets, along with the broad equity and bond markets, but a mixed month for the commodity complex overall,” the Sprott report noted. “The U3O8 uranium spot price rose from $48.31 to $50.75 per pound in January, a 5.05% increase, while uranium mining equities gained 14.65%.”

“In 2022, the fundamentals for uranium and nuclear energy significantly strengthened and were bolstered by a continuous flow of endorsements from global governments,” the report added. “Despite this, uranium mining equities were dragged down in 2022 by their systemic risk to the overall markets, not surprising given last year’s bear market in which the S&P 500 Index fell 18.11%.” Shifting Investor Sentiment

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