The latest market news, commentary and strategy by Adrian Rowney
5 Things that Grabbed my Attention
1. The RBA is very likely to keep interest rates on HOLD today.
2. In more bullish news for URANIUM, Microsoft signed a deal with the owner of the Three Mile Island nuclear plant in the US to re-start it by 2028…..Microsoft desperately needs reliable, 24 hour energy supply to power it’s AI.
3. Vlad is tossing up the idea of banning exports to the WEST of URANIUM, TITANIUM & NICKEL.…The coming resource wars could see some huge price rises in a bunch of key commodities.
4. Chalice’s (CHN) mega discovery at Gonneville has been granted as a ‘Strategic Project’ by the WA government which means approvals and infrastructure requirements will be fast tracked….It has basically been given ‘Green’ status….BUY last sale $1.30
5. The ACCC case against Woolies (WOW) and Coles (COL) has two objectives – 1st is to generate some juicy revenue for the government via massive fines and secondly to ensure the public believes business is the culprit behind volatility of prices and not the RBA who let the Inflation Genie out of the bottle….WOW and COL shares fell over 3% on the news.
ASX Market Update
ASX 200 down 56 points to 8152
Our market had a little breather but URANIUM miners swam against the tide to finish in the green. PDN increased 4.6%, BOE rallied 8.2% and URNM added 5.46%. I think there are some serious gains to be had in the sector so this recent correction is the time to be adding more or getting in if you haven’t got any exposure.
Random Observation
Trump is pricing his SILVER coins at a premium to spot of 220%…..
The Day Ahead
- ASX 200 futures up 1 point
- Bitcoin up 0.37% to $63,309
- BHP in US up 1.5%
- Newmont in US was FLAT
- URNM in US up 4.53%
Movements affecting our resource stocks today (USD)
- Gold up 0.2% to $2651
- Paper Silver down 1.65% to $30.98
- Platinum down 2.24% to $959
- Palladium down 3.35% to $1042
- Copper FLAT @ $4.34
- Brent Crude down 0.6% to $74.04
- Iron ore down 2.1% to $89.75
Asian Market Update
China up 0.44%, Hong Kong FLAT and Japan SHUT
India is loading up on SILVER….copy them – BUY ETPMAG
Global Market Update
US Market
DOW up 61 points to 42,124
The broad based S&P 500 hit a fresh record high overnight as traders pushed up stocks on the back of the 0.5% or 50 basis point interest rate cut last week…..Kind of wild that the FED implemented a cut in rates with markets at record high levels but debt levels are so enormous it would appear Jerome Powell was forced to act.
European Markets
Germans up 0.68%, Brits added 0.36% and Frenchies put on 0.1%
The absolute mental state of people is shocking to me. Here is a bloke that is super intelligent when it comes to energy but wants to pay more tax to government who are actively pilfering it. We should only be hearing screams for smaller government not higher taxes.
Key Market Summary
