Gold, Silver, Metal Prices Commentary – June 30, 2010
Good Morning,
Quarterly performance tallies started to trickle in as the last trading day of the month got underway this morning. Commodities tabulated their worst quarter since late 2008/early 2009 as a 10% decline in the complex was affected by Chinese growth contraction fears and investor sentiment about the fate of the rest of the world’s economies. Gold posted a third-best showing with a 12% gain, right behind natural gas and coffee (which rose 20%).
Meanwhile, silver turned up in fourth place with a 6.5% appreciation percentage. What did not do well? Industrial metals, for the most part. Consider zinc’s 25% plunge, or nickel’s 23% fall. Bellwether copper fell 16% on the quarter and black gold dropped more than 9% since the end of March. Bad as the quarter was for commodities, the index of world equities showed a 13% decline in values for the trimester.
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© Jon Nadler, Kitco Metals Inc. for Coin News, 2010. |
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