Not Just Gold Base Metals and Uranium Surging Too

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...new records have been set for nickel, lead and uranium. The effect on commodity mining stocks has also been dramatic with gains on major exchange indexes again being commodity-led...

What a week for metals commodity investors! This week has seen a big upturn in all the major traded commodities even copper has pulled back dramatically from the recent slump which looks to have been overdone, while new records have been set for nickel, lead and uranium. The effect on commodity mining stocks has also been dramatic with gains on major exchange indexes again being commodity-led. Precious metals too, of course, have been strong with the gold price breaking through $680 again and silver through $14.50. Where will it all end?

For base metals, price patterns are perhaps more predictable as they rely to a far greater extent on industrial supply and demand than gold and silver. Analysts look at mining company predictions for projected growth, or fall, in output, estimate the demand base and set their predictions accordingly. Being cautious animals, most of the analysts tend to be conservative on demand patterns and perhaps too strong on production estimates, which frequently do not meet company predictions.

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