Commodities seem to to rallying

December 28, 2013

Nigeria (Dec 28)  Metal prices are poised to rebound in 2014 according to Bloomberg. With accelerating economic growth boosting demand, it is expected average annual prices for 15 of 23 non-energy commodities from aluminium to sugar will be higher than at the present. Bloomberg, in a poll of commodity experts found there was a consensus that the growth factor would help to stem this year's record downturn for investments in commodity-focused funds. 26 analysts agreed Corn could rise as much as 21%, platinum 24% and nickel 20%. Corn, silver and gold dropped the most in 2013 as investors shifted to equities. Commodity-fund investments fell by a record $88 billion to $332 billion in the first 11 months, almost all of it in metals and agriculture. According to the International Monetary Fund, the global economy should expand 3.6% next year, from 2.9% in 2013. China, the biggest consumer of commodities is forecast to grow 7.5%.

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