Kitco News' general-interest stories takes a look at what is making headlines in the marketplace and how that is impacting precious metals prices
- European investment demand for uranium has reached a significant milestone, and is seeing unprecedented growth as the world continues to transition to cleaner energy.
URNM tracks the North Shore Sprott Uranium Miners Index and provides exposure to the growth of nuclear power through uranium miners. The ETF also invests in physical uranium via trusts and currently has around 16% direct exposure to the energy metal. The price momentum in uranium is helping to drive up equity prices. Canadian-based producer Cameco, one of the world's biggest suppliers of uranium, is seeing its share price up more than 8% year-to-date.
Geopolitical uncertainty following the recent coup in Niger has contributed some of the recent momentum to prices; however, analysts note that shifting sentiment in the energy market and the growing need for clean power is pushing uranium into a long-term bull market.
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