Commodity Roundup

Click on the headlines to be taken to the stories...

Silver hits highest since end-May, investors buy

I'd been forecasting that the silver ETF would drive a breakout in silver. Maybe I was right, maybe I was lucky, maybe it's the "stopped clocks are right twice a day" sort of thing.

DJ ETF Securities To Launch 29 Exchange-Traded Commodities

This is on the London stock exchange. Still, I know some readers trade the European markets, so there you go. And the more they're buying over there, the higher prices will be over here.

Copper gains; mkt waits for confirmation of Escondida strike

Now this is odd. Copper prices are going up as the market waits to hear that the Escondida strike is OVER! I guess no one believes the deal is going to work.

Meanwhile, the story also relates that nickel "inventories, already at critically low levels, fell by another 720 tonnes. The metal touched a record 29,950 usd last week amid falling inventories and an ongoing strike at Voisey's Bay since July."

Funny thing -- the strikers at Voisey's Bay, Labrador, come down to Goose Bay to walk the picket lines (I saw them while I was there) because no one will see them in Voisey's Bay. Good luck to all on that one.

Goldcorp to Buy Glamis Gold for $8.6B

This is not the best short-term news for GoldCorp -- it dropped 3% on the news. But it's a smart move and should really help the stock longer-term.

Check out my new gold and energy blog at MoneyAndMarkets.com