How Much Is Uranium Worth? Price per Pound, Kilogram and Gram
60-second answer: On November 4, 2026, uranium was worth $91.89 per pound of U₃O₈, the standard market quote. That converts to $202.58 per kilogram of U₃O₈, about $0.20 per gram, and $238.89 per kilogram of contained uranium (kgU). Those are prices for natural uranium concentrate. Enriched reactor fuel costs far more per kilogram, because conversion, enrichment and fabrication are added on top. Check the uranium spot price today for the current figure.
How much is uranium worth right now?
The uranium price you see quoted is the spot price of U₃O₈ (uranium oxide concentrate, or yellowcake) in US dollars per pound. Every other unit is arithmetic on that one number. The figures below are recomputed from the live spot each time this page is served.
| Unit | Price | How it is calculated |
|---|---|---|
| Per pound U₃O₈ | $91.89 | Spot quote, /spot-price, November 4, 2026 |
| Per kilogram U₃O₈ | $202.58 | lb price × 2.20462 |
| Per gram U₃O₈ | $0.2026 | kg price ÷ 1,000 |
| Per kgU (contained uranium) | $238.89 | lb price × 2.59978 |
| Per metric tonne U₃O₈ | $202,583 | lb price × 2,204.62 |
| Per tU (tonne of contained uranium) | $238,894 | lb price × 2,599.78 |
| Per short ton U₃O₈ (2,000 lb) | $183,780 | lb price × 2,000 |
Spot: real (Independent on-chain feed), Yellowcake Analytics /spot-price, November 4, 2026. Conversions: our arithmetic.
The conversion formulas
Two fixed constants do all the work.
- Mass. 1 kg = 2.20462 lb.
- Chemistry. A pound of U₃O₈ contains 0.848 lb of uranium metal; the rest is oxygen. So 1 kgU equals 1 ÷ 0.848 = 1.1792 kg of U₃O₈.
Combine them and 1 kgU = 2.20462 ÷ 0.848 = 2.59978 lb U₃O₈. That gives the formulas:
- Price per kg U₃O₈ = price per lb × 2.20462
- Price per gram U₃O₈ = price per kg ÷ 1,000
- Price per kgU = price per lb × 2.59978
- Price per tU = price per kgU × 1,000
North American miners and the spot market quote lb U₃O₈. International bodies such as the IAEA and the OECD/NEA Red Book report tU. Our uranium units converter covers every direction, including kgU as UF₆.
Why "uranium" has several prices
The word covers at least three different products, and each has its own price.
- U₃O₈ concentrate. The mined and milled product, priced per pound. This is the spot price above.
- Contained uranium (kgU). The same material measured by its uranium content. It is the same price on a different basis, 2.6 times the per-pound figure.
- Enriched fuel. Concentrate that has been converted to UF₆, enriched to raise the fissile U-235 share, and fabricated into fuel assemblies. Each step is a separate service with its own market. Enrichment is priced in separative work units (SWU); see SWU and enrichment economics.
Why is enriched uranium more expensive per kg?
One kilogram of enriched fuel needs several kilograms of natural uranium plus paid processing. In the worked example in our nuclear fuel cost calculator, 1 kgU of 4.95% enriched product requires 9.30 kgU of natural feed (24.2 lb U₃O₈) and 8.73 SWU. With the calculator's illustrative inputs ($80/lb U₃O₈, $40/kgU conversion, $150/SWU, $300/kgU fabrication), the delivered cost is about $3,915 per kgU, with uranium about 49% of the total.
That is a modeled figure built from assumptions, not a market quote. For context, it is about 16 times the $238.89 per kgU of natural uranium at today's spot. There is no public live price for enriched uranium per kilogram. Run your own inputs in the calculator.
Spot price vs term price
The spot price is for near-term delivery in a thin market. Most uranium changes hands under long-term contracts between producers and utilities, priced off the term price.
Our spot price page showed a long-term term price of $98/lb for October 2026, $6.11 above the November 4, 2026 spot of $91.89. The gap between the two is one of the clearest signals in the market; read why in spot vs term uranium price, and track contract activity on the contracts page.
Is uranium worth more than gold?
By weight, no. Gold is worth several hundred times more than uranium concentrate per gram.
- Gold was $4,053.16 per troy ounce at 9:00 a.m. ET on October 28, 2026 (CNBC). That is about $130.31 per gram.
- U₃O₈ was $92.81/lb on the same day, or about $0.2046 per gram.
That put gold at roughly 637 times the value of uranium per gram on October 28, 2026. The comparison investors usually mean is returns, which depend heavily on the start date. Use the "Uranium in gold" story view on the uranium spot price page, and read uranium vs gold vs the S&P 500 for a full-cycle comparison.
How the uranium price has changed
Uranium is a cyclical commodity with long gaps between peaks. Our Yellowcake Composite series shows an all-time high of $136.22/lb in June 2007 (an estimated point in our series). The November 4, 2026 spot was 32.5% below that level.
Over the past year, from the same series on our uranium spot price page:
- 1-year high: $100.08/lb, or $260.19 per kgU.
- 1-year low: $75.20/lb, or $195.50 per kgU.
- 1-year average: $85.66/lb, or $222.71 per kgU.
- Change over 1 year: +16.5%; year to date: +12.5%.
The full cycle story, from the 1970s through the post-Fukushima lows, is in uranium price history.
Frequently asked questions
How much is 1 pound of uranium worth? $91.89 per pound of U₃O₈ on November 4, 2026, per our uranium spot price page. A pound of U₃O₈ contains 0.848 lb of uranium metal.
How much is uranium per kg? $202.58 per kilogram of U₃O₈, or $238.89 per kilogram of contained uranium (kgU), at the November 4, 2026 spot. Multiply the per-pound price by 2.20462 for kg U₃O₈ or by 2.59978 for kgU.
How much is 1 gram of uranium worth? About $0.20 per gram of U₃O₈ at the November 4, 2026 spot. Enriched fuel is worth far more per gram because of the processing it contains.
Why is enriched uranium more expensive per kg? Each kilogram of enriched fuel needs several kilograms of natural uranium plus conversion, enrichment and fabrication. Our calculator's illustrative example puts 4.95% fuel near $3,915 per kgU, against $238.89 per kgU for natural uranium.
Is uranium worth more than gold? No, not by weight. Gold was about $130.31 per gram on October 28, 2026 (CNBC), roughly 637 times the $0.2046 per gram of U₃O₈ that day.
What's the price of uranium per ton? At the November 4, 2026 spot, a metric tonne of U₃O₈ was worth about $202,583, a short ton (2,000 lb) about $183,780, and a tonne of contained uranium (tU) about $238,894.
Informational only, not investment advice. Every figure links to its primary source so you can check it yourself.