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The price has been headed higher since April and was last up near $50/lb in mid-2012.
Uranium Royalty Corp (TSXV: URC) shot up 23.63% to a multi-year high of C$6.75 on news the royalty company was entering contracts for three additional spot purchases totalling 300,000 pounds of U3O8 at an average cost of $38.17/lb.
"The supply and demand fundamentals for uranium continue to improve, with demand for uranium now exceeding pre-Fukushima levels and global mine production (128 million pounds) expected to lag global consumption (191Mlb) by 63Mlb in 2021," it said, citing UxC data.
The Sprott Physical Uranium Trust has continued its buying spree and now holds more than 26.1Mlb of U3O8, up from less than 21Mlb at the start of September.
It (TSX: U.U) gained 3.85% to C$12.95.
Spot gold has dropped below the US$1,800 an ounce mark again to $1,795/oz, while nickel rose above $20,000 per tonne in London on a mainly positive day for base metals.
"China's data dump sees retail sales, industrial production and property investment all came in below expectations albeit we could argue that the ongoing bearish macro sentiment has already been largely built into current price levels," Marex's Al Munro said from the LME desk.
Copper majors Antofagasta gained 2.7% in London and Freeport-McMoRan rose 5.6% in New York.
