Commodities Rally to Highest in More Than Six Months on Bailout for Greece

Commodities Feb 21, 2012 No Comments

Commodities rallyCommodities jumped to a six-month high as euro-area finance ministers reached agreement on a second debt bailout for Greece and U.S. equities rallied, boosting prospects for raw-material demand.

The Standard & Poor’s GSCI Spot Index of 24 commodities rose 1.6 percent to 699.17 at 2:56 p.m. in New York after reaching 700.79, the highest since July 27. Metals led the gains with silver up 3.7 percent and aluminum gaining 3.5 percent. The Dow Jones Industrial Average climbed above 13,000 for the first time since 2008.

via Commodities Rally to Highest in More Than Six Months on Bailout for Greece – Bloomberg.

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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