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Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

See gold at $1500/oz; profit taking in commodities: UBS

Posted on 22 February 2013

The weakness in commodities experienced yesterday was a short-term profit booking rather than any structural problem, believes Tom Price of UBS Equities. Widespread rumours of a large commodity hedge fund being forced to liquidate its holdings triggered a broad sell-off in industrial commodities led by crude oil yesterday. “We have been trying to investigate the so-called rumour about hedge fund all day and have not found any sort of evidence for that at all,” says Price.
Price maintains its bullish stance on the world commodities market. “The fundamentals in commodities trade look reasonably sound and there are no structural problems in any of the economies around the world that could justify this sort of shocks,” he adds…………………………………….Full Article: Source


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