Of note: copper is up 126%...while Gold (which has been the headliner) is only up 29.62%. Gold is always over-hyped and this proves it again. There was an interesting article (wish I remember where I read it), about the fact that when Dubai came forward with all their problems, the flight was actually to the US Dollar as opposed to gold. Interesting, given the plight of the dollar recently and the intense selling pressure it has had as opposed to the traditional "safe-haven" of gold.
Monday, December 7, 2009
Commodities 2009 Numbers - Gold isn't that amazing.
The following is a graph of major commodities' 2009 numbers.
Of note: copper is up 126%...while Gold (which has been the headliner) is only up 29.62%. Gold is always over-hyped and this proves it again. There was an interesting article (wish I remember where I read it), about the fact that when Dubai came forward with all their problems, the flight was actually to the US Dollar as opposed to gold. Interesting, given the plight of the dollar recently and the intense selling pressure it has had as opposed to the traditional "safe-haven" of gold.
Of note: copper is up 126%...while Gold (which has been the headliner) is only up 29.62%. Gold is always over-hyped and this proves it again. There was an interesting article (wish I remember where I read it), about the fact that when Dubai came forward with all their problems, the flight was actually to the US Dollar as opposed to gold. Interesting, given the plight of the dollar recently and the intense selling pressure it has had as opposed to the traditional "safe-haven" of gold.
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