25.10.2012 - Doom and gloom for commodities
Responding to the decided chilling of the global economic backdrop, commodity prices have beaten a hasty retreat in recent weeks. Brent crude has dipped below USD 110 a barrel for the third time since QE3 was announced and is likely to test critical support at the 100d moving average of USD 107.67 before too long. The copper price has dropped 7% since the Fed resorted to unbounded asset purchases in the middle of last month, the gold price is down near USD 1,700 after testing USD 1,800 earlier in October and the price for US hot-rolled steel coil has fallen 13% since the end of August...............................................Full Article: Source
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