👷‍♀️ Greetings Contrarian!

This is The Next Big Rush, your daily drop of mining and energy investing news. Where we come together and go bowling. 🎳

📝 Here are the highlights

😎 Atomic Push

📊 Market Shift

🐦 Uranium Future Unveiled

📌 Commodity Prices

😎 Atomic Push

France’s Orano SA is increasing uranium mining and enrichment capacities to meet rising demand and reduce dependence on Russian supplies. The company is investing in extending the life of its mines in Canada and Kazakhstan, exploring new areas, and developing projects in Mongolia and Uzbekistan.

Global uranium demand has surged as countries, including China and Europe, expand nuclear power to reduce carbon emissions, while geopolitical issues in Kazakhstan and Niger have constrained supply. In Niger, Orano's production has dropped to 40% capacity due to a military coup, preventing exports.

Orano is also expanding its French uranium enrichment facility to increase its global market share from 12% to 16% by the decade's end. It aims to fill the gap left by reduced Russian involvement after Western utilities shifted away from Kremlin-controlled Rosatom.

Orano is considering building a new enrichment plant in Tennessee to further reduce Russian supplies, pending U.S. government support. 

We’re not surprised.

📊 Market Shift

Gold prices rose today as the U.S. dollar weakened amid growing expectations of a Federal Reserve rate cut in November. Spot gold gained 0.3% to $2,637.31 per ounce, while U.S. gold futures rose 0.6% to $2,654.30.

Investors are awaiting U.S. Producer Price Index data and Fed speeches for more direction. Despite this uptick, gold is set for its second consecutive weekly decline, with analysts suggesting volatility in the short term. 

Silver and platinum are also poised for weekly losses, while palladium increased by 0.4% and is up nearly 6% for the week.

With the dollar retreating and the Fed hinting at rate cuts, gold is set to reclaim its safe-haven status. Will it break past recent highs, or will inflation concerns keep it grounded?

The dynamics between the economy and precious metals are always intriguing, right?

📰 In Other News

🐦 Uranium Future Unveiled

Happy Speculating!

The Editor

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