Red-Hot Resources

"Luck is not chance, it’s toil; fortune’s expensive smile is earned.”

Friday, September 21, 2007

The Big Bull Market in Commodities

Gold and oil are ready to pull back ...

Gold Falls From 27-Year High on Speculation Five-Week Rally Was Overdone Gold fell, erasing earlier gains, on speculation a five-week rally to a 27-year high was overdone. Silver was little changed.

Crude Oil Declines on Signs Demand Will Slip as OPEC Production Increases Crude oil fell after reaching a record yesterday on speculation that prices are overvalued because of slowing demand growth and increased OPEC output.

... While copper, soybeans and wheat rally ...

Copper Rises in New York on Dollar's Slump, Supply Concern in Peru, Mexico Copper rose, heading for the biggest weekly gain in five months, as the dollar's slump made the metal cheaper for buyers using other currencies and labor disputes spurred supply concerns.

Soybeans Fall as Rally Cuts Investor Demand, Boosts Sales From U.S. Farms Soybeans fell, erasing an earlier gain, on speculation a rally to a three-year high might have been overdone as the U.S. harvest accelerates.

Wheat Heads for Ninth Straight Weekly Gain on U.S. Exports, Australian Cut Wheat rose, heading for a ninth straight weekly gain, as demand for U.S. supplies increased and Australia's production slumped.


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