It’s hard to say for sure, but we reckon this is evidence of speculative traders and hedge funds reducing their long positions in the commodities markets. In the retreat to a larger cash position, even profitable trades in commodities must be sold.
March 18th, 2008 | Dan Denning | 3 comments | ContinuedAll Posts Tagged With: "commodities"
The Worst Conditions for the U.S. Economy Since the Great Depression
As we write this, gold futures hit $1,000 an ounce before pulling back. Gold at $1,000 will probably seem a bargain sometime in the future, but in the months ahead, it could be a source of irritation. Corn, wheat…and industrial commodities…could be an even bigger disappointment…
March 14th, 2008 | Bill Bonner | 7 comments | Continued