Tuesday, February 5, 2008

Another Uranium Boom?

"It was the second boom for the central New Mexico town's uranium industry that started when a Navaho sheepherder, Paddy Martinez, picked up a bright yellow rock in 1950. ... With the price of uranium at $90 to $100 per pound--after a low in 2003 of $7 a pound--Grants is anticipating good economic times ahead. ... Other Grants residents say they've learned from the last boom-bust cycles. This time, things will be different, [Star] Gonzalez said", Houston Chronicle, 3 February 2008.

Yes, they will. The uranium boom is in part, another manifestation of the dollar bear market. Let's ask Goldman Sach's Jeffrey Currie what he thinks. As for things being different, I agree. I think uranium is going higher. At least in dollar terms.

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