Saturday, October 17, 2009
Quick Look at Commodity Strength
Barchart.com is one of my favorite sites for reviewing futures markets. Above (top chart) we can see that commodities (S&P GSCI Commodity Index, cash) have broken out to multimonth highs on the strength of gold and oil. A weekly chart (bottom) places the move into context; we remain well below the late 2007/early 2008 peak. Nonetheless, the moves to new 2009 highs have raised fresh concerns about the future inflationary impact of monetary ease in the U.S. and the U.K.