🔴 Global Uranium ETF (URNM.AX) is trading 3.1% down after uranium-miner profit-taking

URNM.AX is trading at A$10.42, down -3.07%, as uranium-miner profit-taking extends the selloff after recent August gains.

• The U.S.-listed uranium ETF fell 3.34% on September 1; U.S.–Iran hostilities, surging oil prices and higher global bond yields added pressure.
• Uranium fundamentals remain comparatively firm, with Cameco reporting an August 31 spot price of US$89.68/lb; the move appears primarily sentiment- and positioning-driven.