23.04.2013 - Commodities supercycle is over
Over the past week, Ive seen two sides to the commodities sector. In the central business district of Perth, Australia, there is little evidence that the boom is ending. Restaurants with prices high enough to scare off well-fed bankers were full, and service was woeful reflecting a scarce pool of workers after the mining rush, and heady wage inflation even for low-skilled positions. But I flew back into London just as commodity markets started tanking, led by a violent fall in gold prices, with bullion clocking up its sharpest one day drop since the 1980s (the price has since risen, but has not regained all its former ground)...............................................Full Article: Source
Print