Commodities mostly rallied in the first week of the New Year on investor relief as US lawmakers clinched a last-gasp deal to avoid the fiscal cliff of tax hikes and spending cuts in the United States, stoking optimism over demand.
“The commodities markets have started the new year with a bang,” said Commerzbank analyst Eugen Weinberg. “The main reason cited for this is the agreement achieved in the fiscal dispute in the US, though growing economic optimism and risk appetite, a weaker US dollar and the expansionary monetary policy pursued by central banks are likely to lend additional support to the upswing………………………………………..Full Article: Source