Insights

Uranium's October Optimism

Uranium's October Optimism

The U3O8 uranium spot price climbed 8.32% in October, rising from $48.25 to $52.27 per pound. YTD as of October 31, 2022, the uranium spot price has climbed by 24.12%. We believe the uranium bull market remains intact despite the negative macroeconomic environment. Our outlook is supported by the unprecedented number of announcements for nuclear power plant restarts, life extensions and new builds that are all creating demand for uranium.

Insights from 2022

Fed Pivot FOMO and Financial Instability

Fed Pivot FOMO and Financial Instability

The tough year continued in October for many asset classes, including gold and other precious metals. Gold demand, however, was strong in Q3 2022 as long-term investors took advantage of lower prices to build positions. With financial system stress cracks showing up, central banks are now trying to balance aggressively fighting the highest inflation levels in 40 years while maintaining financial stability in over-leveraged governments and markets. 

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Uranium's September Setback

Uranium's September Setback

September was tough on uranium (both physical and stocks), which was negatively impacted by the month's drawdowns. We believe the uranium bull market remains intact, especially given that many countries are facing energy shortages and rocketing costs. Nuclear energy provides a solution as a reliable, affordable base-load energy source. 

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The Dollar, Safe Haven or Leaky Lifeboat?

The Dollar, Safe Haven or Leaky Lifeboat?

The parabolic rise in the dollar contains the seeds of its own demise. The kiss of death, as for all overcrowded trades, is that it has become front page news. Dollar strength is a mirage, the reverse image of the flaw inherent in all paper currencies. The fatal flaw is that they are the ever increasing issuance of fiscal decay. The façade of dollar strength foretells a comeuppance for all currencies in the form of a steep devaluation in terms of gold.

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Things are Breaking

Things are Breaking

Relative to most asset classes, gold continues to outperform in a broad-based bear market. Since Q2 2020, gold has held above $1,700 but in mid-September, a significant risk-off wave occurred, breaking nearly every risk asset lower. The primary causes were higher than expected inflation data forcing yields (especially real yields) and the USD higher, two important gold drivers. With $1,700 support broken, the next level of support is about $1,550, the approximate pre-COVID trade level.

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SESG is Gold that Aligns with Your Values

SESG is Gold that Aligns with Your Values

Sprott ESG Gold ETF (SESG) is the world’s first ETF to exclusively source and refine gold from recognized ESG mining leaders (based on Morningstar’s universe of listed commodity funds as of 8/31/2022). SESG seeks to address the growing global demand for sustainable, green investment strategies, in an ETF that provides trust, transparency and traceability.

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Uranium’s August Glow

Uranium’s August Glow

Uranium, both physical uranium and mining equities, had standout performance in August, in contrast to the weak results posted by the broader markets. We believe uranium's gains reflect the growing acceptance of nuclear power among global governments as they seek alternatives to meet ambitious energy transition and security goals.  

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Summer Doldrums for Gold & Silver

Summer Doldrums for Gold & Silver

It’s been a summer of doldrums for many asset classes. In our universe, however, uranium and other energy transition metals were a welcome exception to the market carnage  the spot uranium oxide composite was up 8.73% in August and 25.45% YTD. Precious metals, by contrast, lost ground as a liquidity crunch took hold in response to market declines and volatility. Gold lost 3.11% and silver fell 11.62% in August, while gold mining equities magnified gold bullion's loss by declining 10.00%.

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Dawn of a New Nuclear Renaissance?

Dawn of a New Nuclear Renaissance?

The Sprott Physical Uranium Trust (“SPUT”, TSX: U.U ($US); U.UN ($CA)) was launched just over a year ago in July 2021. While we were optimistic about the prospects for uranium, we could not foresee the tectonic shifts in the uranium sector that followed the launch and SPUT’s significant impact.

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SPUT: One Year Later

SPUT: One Year Later

When SPUT began trading in late July 2021, there were many questions about how it would affect the uranium market. With 12 months of trading now behind us, we can confidently state that SPUT has dramatically altered the spot uranium market with far-reaching effects on much of the industry.

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Red Cloud Summer Silver Conference 2022

Red Cloud Summer Silver Conference 2022

Maria Smirnova, Senior Portfolio Manager & Chief Investment Officer, Sprott Asset Management, is interviewed by Taylor Combaluzier, Red Cloud Financial Services, in Fireside Chat: The Silver Perspective. Maria joins Tavi Costa, Partner & Portfolio Manager, Crescat Capital LL. and Peter Krauth, Author of "The Great Silver Bull" and Editor of the Silver Stock Investor Newsletter.

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Signs of Capitulation Everywhere

Signs of Capitulation Everywhere

July was another difficult month for most asset categories and was characterized by selling capitulation into exhaustion. Much more aggressive Fed rate hike expectations relative to other global central banks were a significant cause of U.S. dollar (USD) strength and rising real yields, which adversely affected gold. Although gold bullion lost ground, it remains relatively better off than many other assets for the year at -3.46% YTD through July 31, 2022.

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SESG: Gold that Aligns with Your Values

SESG: Gold that Aligns with Your Values

Sprott ESG Gold ETF (NYSE Arca: SESG) is the world’s first ETF to exclusively source and refine gold from recognized ESG mining leaders (based on Morningstar’s universe of listed commodity funds as of June 30, 2022). SESG offers an investment that provides the benefits of physical gold ownership that aligns with your ESG goals and values: SustainabilityProvenanceConflict FreeLower Supply Chain Risks, Trusted Refining & Storage.

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Inflation, No Quick Fix

Inflation, No Quick Fix

If the Fed is to abandon the practice of inflating financial assets, which would represent a secular shift in direction, substantial deflation lies ahead from which the purchasing power of gold is expected increase in real terms. If there is a return to business as usual, i.e., papering over policy mistakes, we believe that the gold price has the potential to rise to all-time highs in nominal terms.

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Gold Holds in Worst First Half in Decades

Gold Holds in Worst First Half in Decades

Gold continued to perform as a safe haven store of value in what has been one of the most challenging six-month periods for markets in decades. Gold has managed to stay above the $1,800 support level despite the broader market carnage. By contrast, equities (as measured by the S&P 500 Index) recorded their worst first-half start to a year since 1970 and bonds (U.S. Treasury Index) registered their worst first six months since 1973 (based on available data).

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Palladium: The King of Catalysts

Palladium: The King of Catalysts

As one of the key platinum group metals, palladium is a highly prized commodity. It commands more monetary value than gold and is 30 times as rare, with industrial demand outstripping supply for the last decade.

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Video - John Hathaway & Ted Oakley: Gold Outlook, Inflation & Bullion vs. Miners

Video - John Hathaway & Ted Oakley: Gold Outlook, Inflation & Bullion vs. Miners

Ted Oakley of Oxbow Advisors interviews Sprott's John Hathaway on the gold bullion and gold equities markets. Oakley and Hathaway discuss why investors should consider adding gold to their investment portfolios and explore how gold affects portfolio diversification.

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Gold, Steady in its Purpose

Gold, Steady in its Purpose

May saw selling across most asset classes and scant appetite for safe haven assets such as gold. However, gold bullion has outperformed many other asset classes YTD and continues to do its job. Gold held its value with low correlation to the S&P 500 and lower volatility than other assets.

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Platinum: The Rarest Precious Metal

Platinum: The Rarest Precious Metal

Platinum is a metal that represents power, prestige, and a sense of great accomplishment. But platinum is so much more than just a status symbol. Modern day uses of platinum include being a key element in catalytic converters for vehicles, as it converts car exhaust gasses into less harmful substances, as a catalyst in the chemical industry, and even in the creation of life-saving anti-cancer drugs.

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In Gold We Trust Report 2022 - Stagflation 2.0

In Gold We Trust Report 2022 - Stagflation 2.0

Just as we predicted the current wave of inflation in 2020 without going far out on a limb, we are also not going out on a limb with our announcement of persistent stagflation. We will certainly not have to endure a repeat of the stagflation of the1970s; rather, we’ll see stagflation 2.0, with its numerous peculiarities.

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Silver Demand and Supply Trends to Watch

Silver Demand and Supply Trends to Watch

Silver, from a pricing standpoint, is historically undervalued relative to gold and offers an attractive investment opportunity. Silver market fundamentals are strong, given that declining supply trends cannot keep up with rising, longer-term demand. Post-COVID, silver demand is rebounding, led by industrial, jewelry and physical coin and bar investment. We are excited about silver's importance to green technology and de-carbonization trends like EVs. 

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Uranium Miners and the Clean Energy Opportunity

Uranium Miners and the Clean Energy Opportunity

A new uranium bull market is underway. Uranium miners are well positioned to take share within the energy sector as energy security and decarbonization take center stage globally. A uranium supply deficit is looming on the horizon, and uranium miners are likely to be the beneficiaries of increased investment. Learn more from our webcast replay.

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Early Innings for Uranium Investments

Early Innings for Uranium Investments

A new uranium bull market is underway. Energy security and decarbonization are taking center stage globally, igniting a fresh and more rational look at the benefits of nuclear power. Ed Coyne, Senior Managing Director at Sprott, joins Tim Rotolo, co-creator of the North Shore Global Uranium Mining Index (URNMX), to explain how the Index is constructed to provide exposure to the key components of the uranium mining industry.

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NYSE with CEO John Ciampaglia on URNM

NYSE with CEO John Ciampaglia on URNM

Douglas Yones, NYSE Head of Exchange Traded Products, interviews John Ciampaglia, Chief Executive Officer, Sprott Asset Management, on the recent launch of Sprott Uranium Miners ETF (URNM). 

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April Pressures Risk Assets

April Pressures Risk Assets

Gold lost 2.09% in April, a month marked by across-the-board outflows in many asset classes as volatility surged. By contrast, gold held in ETFs has increased sharply this year as the safe-haven flight continues. April was tough on many investment sectors, with the S&P 500 Index down 8.80%, the Nasdaq Composite Index declining 13.37% and U.S. Treasury bonds falling 3.10%. The U.S. dollar was one of the few beneficiaries as it neared multi-year highs.

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Uncovering the World of Uranium

Uncovering the World of Uranium

Host Ed Coyne is joined by Tim Rotolo, co-creator of the North Shore Global Uranium Mining Index (URNMX), to discuss the current dynamics of the uranium mining sector and how the Index is constructed to provide exposure to the key components of the uranium mining industry.

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Putin’s Gambit

Putin’s Gambit

The price of gold has been treading water for 10 years while the investment fundamentals have improved dramatically. That is why, in our opinion, significant upside lies ahead for gold and related equities. Putin’s war introduces yet an additional reason to stoke investment demand for the yellow metal. It is not only war in the kinetic sense, but the reserve currency and cyber aspects that have far-reaching implications for gold. 

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Gold Investment Demand Returns

Gold Investment Demand Returns

Gold posted its all-time highest quarterly close on March 31, 2022, ending a volatile month that helped gold climb above $2,070 on March 8. By contrast, the U.S. Treasury Index suffered its worst quarter since 1973 and the S&P 500 Index posted its first negative quarter since Q1 2020. While gold may have climbed back to its highs on safe-haven flows, other positive gold supports are definitely in play.

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Gold Bullion Breaks Out on Safe-Haven Flight

Gold Bullion Breaks Out on Safe-Haven Flight

Sprott Market Strategist Paul Wong joins Asset TV's Jenna Dagenhart to discuss Sprott's outlook for gold.

Paul Wong: "The Russian-Ukraine conflict is probably one of the biggest macro drivers in the marketplace. Many commodity users, transportation providers and financial facilities are heading toward self-sanction. There is almost a semi-defacto oil embargo going on right now....Before Russia-Ukraine, the gold market had started shaking off the hawkish Fed rhetoric. Russia-Ukraine has just amplified gold's value as a safe haven asset."

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Gold: A True Store of Value

Gold: A True Store of Value

Throughout history, gold has played a prominent role in the advancement of human civilization. Seen as a representation of the sun, of the gods and of true value, gold is a form of real money without counterparty risks. Symbol Au, atomic number 79, gold has been used to adorn the tombs of the great pharaohs and to help power spacecrafts that extend the horizons of humanity’s domain. Learn about gold’s culture, uses and history.

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Gold Bullion Breaks Out on Safe-Haven Flight

Gold Bullion Breaks Out on Safe-Haven Flight

The precious metals complex rebounded strongly in February as other assets faltered. Gold bullion is up 4.36% YTD through February 28, 2022, and silver bullion has increased 4.90%. Gold mining equities rallied and have gained 10.17% YTD. Investors sought safe-haven assets given the heightened concerns over the economic/market risks from rising interest rates and the escalation of the Russia-Ukraine conflict.

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Uranium & Nuclear Energy: Critical to the Clean Energy Transition

Uranium & Nuclear Energy: Critical to the Clean Energy Transition

Nuclear energy’s profile as a highly efficient, reliable and zero-carbon producing energy source has helped to create a new bull market for physical uranium. We discuss the shifting sentiment toward nuclear power and why a growing number of investors are investing in physical uranium and uranium miners.

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Super Terrific Happy Hour Ep. 14: John Hathaway

Super Terrific Happy Hour Ep. 14: John Hathaway

Stephanie Pomboy and Grant Williams, hosts of the popular podcast Super Terrific Happy Hour, interview a true legend of the precious metals industry, John Hathaway of Sprott Asset Management. The three discuss the Fed, inflation, the financial markets and the outlook for gold bullion and gold stocks. 

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Gold and Silver Price Drivers, Generational Opportunity in Stocks

Gold and Silver Price Drivers, Generational Opportunity in Stocks

Charlotte McLeod of Investing News Network interviews Shree Kargutkar: "I believe that we are on the cusp of a generational opportunity today. I would encourage every viewer to dust off their old notebooks and do a little research on precious metals mining companies, especially those that are well managed, with attractive balance sheets."

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Fed Applies Hawkish Shock Treatment

Fed Applies Hawkish Shock Treatment

Gold reached a high of $1,848 in January, but slid following the Fed's exceptionally hawkish statements at the January FOMC meeting. Market risks are rising and we believe that gold, as it did in 2018, is likely to stage a breakout given its safe haven characteristics.

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 2022 Top 10 Watch List

2022 Top 10 Watch List

For 2021, the gold price averaged $1,799 compared to $1,770 for 2020, up $29, despite losing 3.64% for the twelve months. Gold traded in a narrow range for most of last year as markets were ping-ponged by inflation and rate hike expectations. Based on historic patterns, gold's lengthy consolidation indicates that prices have the potential to rally sharply and quickly in the coming year. We explain why in our List of Top 10 things to watch for gold investors. 

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Waiting for the Pivot

Waiting for the Pivot

With Fed policy taking a more hawkish turn, the fire hose of liquidity that has fueled market mania is being turned off. At this moment, it appears that confidence in the Fed and attraction to gold are binary. Our view is that a position in gold offers a very favorable asymmetric risk-reward proposition on the possibility that confidence will not survive 2022.

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Why Nuclear Power Plant Life Extensions & Uprates Matter (...SMRs are in Early Stages)

Why Nuclear Power Plant Life Extensions & Uprates Matter (...SMRs are in Early Stages)

Research and development on small modular nuclear reactors (SMRs) are underway globally and generating tremendous buzz. But SMRs are not likely to contribute meaningful amounts of carbon-free power for another decade. By contrast, nuclear power plant life extensions and uprates hold the power to boost carbon-free electricity production in the interim and provide a bridge to a future date when new SMR technologies will be commercially available.

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