welcome back to our weekly update I'm Charlotte McLoud with investing news.com and I'm here to give you a quick look at our top stories for the [Music] week the gold price broke the 2,000 per ounce Mark again this week drawing strength ahead the Thanksgiving holiday in the US the yellow metal is reportedly being voided by a weaker US dollar which hit a 2.5 month low on November 21st the release of the US Federal reserve's latest meeting minutes did lend some support to the dollar after


the release that same day the summary shows that while officials continue to keep a close eye on inflation they plan to proceed carefully most Market Watchers are not expecting further interest rate hikes during this cycle and CME group's fed watch tools shows that a cut isn't widely expected until May 2024 the FED has consistently reiterated its 2% inflation Target and last week's Consumer Price Index data shows prices were up 3.2% year on-ear in October although they were unchanged month- on


Monon cor CPI which excludes food and energy was up 4% from the eural period and 0.2% from September the central bank's next meeting is set to run from December 12th to 13th gold isn't the only commodity that's been making moves this week we of course also have to take a look at uranium which continues to power higher this week the spot price passed $80 per pound for the first time since 2008 I recently heard from John chalia of sprout Asset Management who said the uranium sector has entered its next


phase but is still early in the current cycle he addressed a question that many people have which is where the price goes from here uranium's shli Spike to nearly $140 in last bull market is well remembered by investors but so far we've seen a fairly slow and steady rise here's what John had to say about what's coming for prices I think it's fair to say that we have been moving in this kind of staircase pattern since 2021 that's a very healthy gradual rise in the price now having said that why


people anchor on to this Spike theory is because it is a very concentrated supply chain you have one country that produces 45% of the world's uranium it's like the equivalent of having a single country uh like the equivalent power of OPEC so it is a highly concentrated supply chain when you add in all the other countries such as usbekistan and I was referring to Kazakhstan but when you add in all the other countries like usbekistan and China and Russia you know they control a pretty significant size of the overall


Global Production and then more recently um uh we've had a coup in nir which is another uh country that produces 4% of the world's uranium and people you know focus on this risk that if there's a disruption in any of those countries you could have a short-term squeeze or a supply Crunch and that could cause the price to spike stay tuned for the interview with John which will'll be posting next week and if you want to know more about the uranium landscape in the meantime I recommend checking out


our playlist from the New Orleans investment conference it includes great conversations on uranium with experts like rck rule Loa T Gwen Preston and War I'll leave the link in the video description so you can take a look that's all for this week if you like this video make sure you subscribe to our Channel we'd also love to hear your thoughts so leave us a comment below we'll see you next time [Music]