90 dollar now, page-3

Now at $90 on the TradeTech Website:

http://www.uranium.info/

TradeTech Uranium Price Continues to Strengthen
Denver, CO (PRWEB) Nov 2, 2007— TradeTech’s spot uranium price climbed to US$90 per pound uranium oxide (U3O8) on October 31—a 20 percent increase over the past four weeks.

The spot price peaked in June at a record $138 per pound U3O8, dropped rapidly during August, and then languished over the month of September—closing that month at $75 per pound, primarily due to the sell-off of inventory by several cash-motivated sellers.

The uranium price gradually gained momentum throughout October and recent news of production shortfalls from several sources prompted sellers to withdraw from the market. “The full impact of these adjusted production forecasts is not yet known, but clearly they do not bode well for buyers,” TradeTech President Treva Klingbiel stated. “The majority of sellers immediately raised their offer prices or withdrew completely from the market,” Klingbiel added. Near-term demand, particularly that of speculators and hedge funds that have begun re-entering the market, remains primarily discretionary.