Take physic, pomp

Chart of the day is….

….uranium, now down at $44/lb

Why isn’t it going up? Because it can’t be hoarded. In other words, it’s one of the very few commodities that can’t be skewed by idiot traders who then say “oh no, not us…pure demand, you know…”

UPDATE: Mailed in by a smart reader

Good point.

It would be interesting to create 2 commodity indices — one containing
hoard-able commodities and the other non hoard-able commodities. Looking at
them together on a chart would be indicative of the “speculative” component
of the recent price rise.

Another non hoard-able commodity that I can think of at the top of my head
is nat gas. Look at that chart compared to U…

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