Re: Feb 12-14 Aftermarket lounge 2016, page-125

In a true GFC? nothing does well.

http://www.infomine.com/investment/metal-prices/

Go to the above link and change the charts to time-line max and look at 2008. Not a single commodity, metal or otherwise did not have a fall in 08/09. Some of them were comparatively small but even a blip in a small market metal is significant because a lot of them which have a small market (say less than 5MTPA) are controlled by 1-2 major producers or consumers.

Confidence in investment is more powerful than any fundamentals. That's what any crisis will really test, what confidence do investors have that their money won't turn to dust.