Well I am absolutley flabbergasted,look at ALL this GOOD NEWS:-
Hedge Funds’ Bullish Bets Driving Biggest Rally in 10 Months: Commodities
Speculators boosted wagers on higher commodity prices by the most since August as improving prospects for growth in the U.S. and Europe sent prices toward their biggest rally in 10 months
Money managers boosted combined net-long positions across 18 U.S. futures and options by 13 percent to 831,421 contracts in the week ended Oct. 25, Commodity Futures Trading Commission data show
“Commodities have been under pressure for very big, macro reasons for the last several months, and that pressure is ending,” said Monty Guild, the founder and chief investment officer of Los Angeles-based Guild Investment Management Inc., which manages $170 million. “We think commodities are going to go much higher because this new banking situation in Europe is going to create a lot more liquidity in the world system.”
U.S. consumer confidence unexpectedly rose in October from the previous month, indicating the biggest part of the economy will keep the recovery intact.
The value of goods and services produced in the U.S. surpassed its pre-recession level after 15 quarters
Energy and base metals will rally, based on the fact that the economy is growing, especially one perceived to be weak like the U.S.,” DoubleLine’s Sherman said. “It’s kind of bullish for consumption globally
Copper prices may be “unimaginably” high in three years, with Chinese growth spurring consumption, Julian Zhu, a Goldman Sachs Group Inc. analyst, said in a speech at an Oct. 28 briefing in Beijing. Inventories monitored by exchanges in Shanghai, London and New York have tumbled 10 percent this month, heading for the biggest loss since May 2009
Speculators cut bearish holdings in wheat by 24 percent from a week earlier, and increased bullish holdings in cocoa, sugar and hogs. Investors almost doubled wagers for higher prices on coffee to 10,768 contracts, even as futures dropped 4 percent last week
64..............Good News EVERYWHERE here.
http://www.bloomberg.com/news/2011-10-30/funds-adding-to-bullish-bets-fueling-biggest-rally-since-2009-commodities.html
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