| Commodities, like the broader financial markets, are in something of a spin. Gold is galloping higher at a rate last seen in October 2008, gaining over $70 a troy ounce from Friday’s low, while copper, oil and aluminum are trying to find a footing after the biggest pan-asset class sell-off since the collapse of Lehman Brothers pummeled them lower.
The trigger for the latest weakness is Friday’s downgrade of the U.S. credit rating from AAA to AA+ by ratings agency S&P..............................................Full Article: Source |