Commodities Rebound, as Gold Climbs to a Record in New York, Nickel Gains

Commodities Aug 19, 2011 No Comments

CommoditiesCommodities rebounded as silver, copper and gasoline gained on speculation that growth in developing countries will be strong enough to boost raw materials demand. Gold advanced to a record as stocks fell.

The Standard & Poor’s GSCI Index of 24 commodities rose as much as 1.5 percent, after plunging 3.3 percent yesterday. Silver futures were up 2.9 percent at 10:46 a.m. in New York, sugar rose 3.2 percent, and gasoline gained 1.7 percent. Copper advanced for the third time this week, and gold rallied as much as 3.3 percent to $1,881.40 an ounce, the highest ever.

via Commodities Rebound, as Gold Climbs to a Record in New York, Nickel Gains – Bloomberg.

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Rod Sherkin

Rod is a former senior executive, responsible for Purchasing, for both Pillsbury and Ball Packaging back in the 80’s and 90’s. Since then, he has continued to work in the Purchasing field as both a consultant and founder of the website Propurchaser.com.

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