Uranium prices have touched multi-year highs but the rally looks unsustainable into 2022, Morgan Stanley says

Uranium prices have climbed 60% in four weeks as an investment fund embarked on a buying spree.

Morgan Stanley commodity strategists say it may be hard to maintain robust investment demand into 2022.

The Sprott Physical Uranium Trust has purchased a massive 1.45 million pounds since mid-August.

Uranium prices have shot up about 60% over the past month on the back of big purchases of the nuclear-energy element by an investment fund, but the rally is likely to lose steam next year, Morgan Stanley said this week. Spot prices for uranium were at 2021 lows in August before they started advancing toward what’s become a 58% gain in four weeks. The price traded above $47 on Friday and this week touched $50 for the first time since 2012, according to S&P Global Platts. Morgan Stanley’s commodity strategists in Europe said the Sprott Physical Uranium Trust is […]

Click here to view original web page at www.msn.com

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.