watch closely now
Sept 8, 2009 18:44:42 GMT 12
Post by Deleted on Sept 8, 2009 18:44:42 GMT 12
From Gold Eagle
Heres hoping
Gold nudges USD1,000 but energy falls back
SINGAPORE (7 Sept) As the gold price nudges USD1,000, many analysts say they are preparing for the next leg of the decade long rally, according to S&P
But whilst Gold is glistening more brightly for some investors, the S&P GSCI Silver Index has been the star of 2009 posting a YTD gain of 31.02 per cent
The S&P GSCI declined 2.37 per cent in August led by weakness in the energy sector with Natural Gas continuing to be the main drag, declining 24.62 per cent on the month with YTD decline of 58.76 per cent.
In fact, all of the energy commodities ended August in the red, which resulted in an S&P GSCI Energy index decline of 3.81 per cent on the month.
In an extremely low interest rate environment, more easily stored commodities can generally be expected to outperform and the metals have outperformed.
Led by copper, the S&P GSCI Industrial Metals Index improved its 2009 status as the year's best performing sector, increasing 7.48 per cent in August for a YTD gain of 60.69 per cent.
The S&P GSCI Copper Index ended August with a YTD gain of 108.39 per cent, making it the best single commodity index within the S&P GSCI in 2009.
Heres hoping
Gold nudges USD1,000 but energy falls back
SINGAPORE (7 Sept) As the gold price nudges USD1,000, many analysts say they are preparing for the next leg of the decade long rally, according to S&P
But whilst Gold is glistening more brightly for some investors, the S&P GSCI Silver Index has been the star of 2009 posting a YTD gain of 31.02 per cent
The S&P GSCI declined 2.37 per cent in August led by weakness in the energy sector with Natural Gas continuing to be the main drag, declining 24.62 per cent on the month with YTD decline of 58.76 per cent.
In fact, all of the energy commodities ended August in the red, which resulted in an S&P GSCI Energy index decline of 3.81 per cent on the month.
In an extremely low interest rate environment, more easily stored commodities can generally be expected to outperform and the metals have outperformed.
Led by copper, the S&P GSCI Industrial Metals Index improved its 2009 status as the year's best performing sector, increasing 7.48 per cent in August for a YTD gain of 60.69 per cent.
The S&P GSCI Copper Index ended August with a YTD gain of 108.39 per cent, making it the best single commodity index within the S&P GSCI in 2009.
