The overall commodities market tanked -5.1 per cent in Q1, 2015, weighed on by fossil fuels with oil and natural gas down -11.7 per cent and -7.1 per cent respectively. However, it was a different energy-related commodity that had the last laugh. Uranium quietly led the pack in Q1, 2015 with an impressive 11.6 per cent gain. It is trading close to the 40 dollars per pound level, which is a sizable increase from the 30 dollart level it was trading at last summer.
JPMorgan Chase and Co. sees the price averaging 42 dollars this year, and moving to a spot price of 50 dollars in 2016. On the precious metals front, the gold to silver ratio fell to a low of 70 near the end of March, with silver up 5.7 per cent on Q1, 2015 in total. Recent movement has brought this back to closer to the 73 ratio level.
Original URL: https://www.valuewalk.com/2015/04/commodity-scoreboard-uranium-and-silver-led-the-way-in-q1-chart/
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