The Bernanke money printing machine has impact:
The CMCI index has gained 14% year-to-date..
Copper for delivery in three months rose $220 to $4,750 a metric ton on the London Metal Exchange, the biggest jump since March 19. Prices are up 55 percent this year.
Crude oil for June delivery rose $2.50, or 4.6 percent, to $56.34 a barrel on the New York Mercantile Exchange, the highest settlement since Nov. 14. Oil is up 26 percent this year.
Gold futures rose for a third straight day, gaining 0.7 percent to $911 an ounce on the Comex division of the Nymex.
Gold futures rose for a third straight day, gaining 0.7 percent to $911 an ounce on the Comex division of the Nymex.
ReplyDeleteThere are rumours that the IMF intends to sell off its gold stocks. Won't this have a depressing effect? I guess such an effect would be short term though if the underlying demand for gold is high cos of inflationary fears.
There are also very strong rumors that China wants to buy whatever they are willing to sell.
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