I can't add too much to the fundamental view that Bobwins already expressed. It is for exactly these reasons that I invest heavily in commodities.
It is very likely that commodities will head lower from here: (1) they've had a big run these last 2-3 years; (2) central banks throughout the world seem to have a coordinated effort to push down commodities, and to heighten investors' appreciation for risk; (3) the hedge funds are going through another round of "looks like a global slowdown ahead, so lets sell our holdings to lock in our bonuses."
Steve Forbes has been calling for $35 oil for several years now. I just don't think he gets commodities. I see this article in Forbes as the perfect contrarian indicator that the "commodities selloff" is closer to the bottom, than just beginning. Where was Forbes back in May when he should have called the top in commodities?
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