welcome back to our weekly update I'm Charlotte McLeod with investingnews.com and I'm here to give you a quick look at our top stories for the week [Music] the gold price declined this week slipping from just under 1940 per ounce at the beginning of the period to about 1920 by the end of September 7th the U.S federal reserve's next meeting is still a week and a half away but there's already a strong consensus about what the outcome will be Stampy's fedwatch tool shows that Traders now see a 93 chance that the


central bank will leave rates unchanged from the current level at 5.25 to 5.5 percent recent comments from fed Governor Christopher Waller support that idea speaking to CNBC he said last week's strong U.S economic data will allow officials to proceed carefully even so he emphasized that inflation is key and Hikes may not be overreact the fed's next meeting runs from September 19th to 20th well gold had a slow week activity was strong in the uranium sector where major minor chemical has been Turning Heads


in an update released on September 3rd the company spoke about operational challenges saying that the cigar Lake mine is now expected to produce up to 16.3 million pounds of u308 this year down from the previous forecast of 18 million pounds meanwhile output from the MacArthur River key Lake operations is set to come in at 40 million pounds of view 308 less than the 50 million pounds predicted earlier altogether that amounts to a 2023 production cut of 2.7 million pounds for camaco the company has offered various reasons


for the decline it said that cigar Lake's productivity was impacted in Q2 of this year when mining activities were initiated from a new Zone in the ore body with equipment reliability issues further affecting the asset's performance in Q3 aside from that while the key Lake Mill continues to ramp up its facing operational problems due to the length of time it was on care and maintenance uranium experts have been speaking for years about the tightness of Supply amid growing demand and the news from


chemical adds support to their positive forecasts in fact chemical itself discusses the growing risk of Supply Security in its press release saying it comes at a time when the demand outlook for Uranium is stronger and more durable than ever the youth 308 spot price is currently above 60 per pound still below its all-time high of more than 130. many uranium bowls believe it could reach and surpass that level during this cycle we'll be watching to see how the situation develops that's all for this week if you like


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