👷‍♀️ Greetings Contrarian!

This is The Next Big Rush, your daily drop of mining and energy investing news. Where we come together and play a game of basketball. 🏀

📝 Here are the highlights

😉 Uranium Squeeze

🧐 Gold Slumps

🐦 Norsemont’s Winning Strategy

📌 Daily Commodity Prices

😉 Uranium Squeeze

Canada's uranium miners, pivotal to meeting U.S. nuclear fuel needs amid Russian supply curbs, are ramping up production and contracts but face uncertainty over potential 25% tariffs proposed by President-elect Donald Trump. Tariffs could inflate uranium costs unless exemptions are granted, adding pressure on a commodity already in short supply.

Canada, the second-largest uranium producer globally, exports 85% of its output, much of it to the U.S., where nuclear energy powers 20% of electricity demand. NexGen Energy and Cameco highlight Canada's strategic importance as U.S. utilities seek to diversify supply chains and counter Russia's export restrictions.

Uranium contracting prices surged recently, reflecting market volatility after Russia restricted shipments. Canadian miners remain optimistic about leveraging their indispensable role in U.S. energy security in potential tariff negotiations.

🧐 Gold Slumps

Gold is set to close November with a 3% decline, its worst month since September 2023, amid a rally in the U.S. dollar, which is on track for a 2% monthly gain. Today, spot gold rebounded 0.9% to $2,664.11/oz, though its overall performance remained pressured by geopolitical tensions and profit-taking following Donald Trump’s election victory.

Silver, platinum, and palladium also face November losses, despite today's gains of 1.5%, 1.5%, and 1.4% respectively. Investors now turn to next week’s U.S. jobs data for clues on Federal Reserve policy.

🐦 Norsemont’s Winning Strategy

Happy Speculating!

The Editor

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