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Meh, barely noticeable on a long term chart.

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PaddyMac33

263 Posts.

33

11/07/22

16:25

Post #: 62479022
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Originally posted by 1ronnie: ↑
..And this from my newsletter .

Here’s a list of commodities and their price falls over the past month (as at Thursday last week):
Brent Crude: down 16.2%
US gasoline: down 19%
US heating oil: down 18%
Copper: down 22%
Nickel: down 26%
Zinc: down 20%
Tin: down 27%
Iron ore: down 23%
Cobalt: down 17%
Wheat: down 24%
Cotton: down 31%

After such sharp short-term falls, you should expect a short-term bounce. But these sorts of falls (on the back of tighter money globally) suggest to me the trend of (inflationary) rising commodities prices is over for now.

Since peaking in April, the ASX 200 Resources index is down around 20% and trending lower (see chart below).
Column 1
1
2 Source: Optuma
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Meh, barely noticeable on a long term chart.
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