[COMMODITIES - BID TONE] A bid tone has enveloped in the broad complex though at times price action was indicative of out of control markets. [GOLD] pushed up to post another new record ($1778.3 on spot) but that was only after an earlier pull-back to $1745. [OIL] has seen an even crazier trading range as NYMEX has managed to build on its $75.71 o/n low to trade just above the $79 handle ($79.20brl) but still over $2 softer on the day.
Industrial metals have also witnessed some bargain hunting with [COPPER] rebounding to $3.96 from $3.8180 following the ever so slightly better risk appetite tone. Meanwhile, [ECB] Pres Trichet has said the financial markets are in the worst crisis since WWII but it could have been the worst since the first world war if European leaders had not taken recent decisions.
