From Commodity Online: The global credit crisis has had its share of impact on the commodities sector both in India and globally which was not the case in the first half of 2008 when the sector seemed to be insulated from the crisis.
There were major corrections in commodities prices, including precious and base metals and crude oil on Monday. Price of crude oil for October fell nearly 3 per cent on Multi Commodity Exchange. October contracts of base metals lost an average 2 per cent while precious metals December contracts lost just about 1 per cent. Long-only money has shrunk by as much as $50 bn with the sharpest drops in agricultural futures and oil markets…… Full Article: Source