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 we didn't touch on gold in last week's update and unfortunately what we missed was a steam decline the yellow metal started last week around 1915 per ounce and had fallen to just below 18850 by the time it was over the pressure has continued this week with gold sinking to about 1820 Midway through the period so what's going on with gold many Market


Watchers believe its troubles relate back to the US Federal reserve's higher for longer interest rate strategy at the central bank's last meeting officials indicated that one more hike is likely in 2023 with two cuts on deck for 2024 for if that holds true there won't be much movement in the next year with rates looking set to stay high for the foreseeable future American bond yields are taking off and that's been lending strength to the US dollar this week 10year treasury yields hit a 16-year


high while 30-year treasury yields pushed above 5% for the first time since 2007 yield and price move inversely when it comes to bonds meaning that prices for these government issued Securities have been getting hammered all of activity has hurt stocks which become less appealing when rates are high however it's also not good news for gold while the experts I've been speaking with remain positive on the precious metal in the long term the broad consensus is that the price is likely to be kept Under Wraps until the FED starts


to lower rates some are embracing these circumstances as a buying opportunity in the gold space Costco has now started selling 1 o gold bars and they're reportedly flying off the shelves but it's also causing major fatigue among among investors not everyone is interested in hanging on as times get tougher we're curious to know what you're doing are you using this time to position in gold or are you getting out of the sector leave a comment below to let us know your thoughts as we wrap up I want to touch


on uranium we covered a number of recent industry developments last week but the news keeps oncoming since that time major producer Kazam prom has announced plans to end its production Cuts in in 2025 if you've been following the uranium Market you'll know that as demand continues to grow Supply is becoming a larger and larger question mark with that in mind I asked Adam Rosen swag of Garing and Rosen swag what impact K Adam proms news could have on the sector here's how he explained it so


I I don't know that this is kind of written in stone uh just yet uh obviously bringing on news they're the largest uranium producer in the world and so bringing on an additional 10,000 tons per year of uranium um impacts the supply and demand balance but actually the deficits are so severe going forward over the next seven or eight years that it definitely does not swing this Market into Surplus it keeps things very very tight we do have this primary deficit in the market today um and which has been


met by the stock piles that are now going away to zero so the market can definitely absorb it and I wouldn't be so sure that it's coming online quite the way that they claim Adam and his firm are very positive on the Outlook for uranium and I recommend watching the full interview if you'd like to hear more of his views on Supply demand and pricing I'll leave the link in the video description that's all for this week if you like this video make sure you subscribe to our Channel and turn on


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