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Commodites sliding

By   || March 12, 2010 at 17:04 GMT
|| 4 comments || Add comment

Funny day. Commodities are melting down all of a sudden. Oil was above $83 earlier in the day; now were down a buck, down to $81.15. Gold is down at $1100 support again…

No clue what to blame it all on, though it does suggest risk aversion.

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4 Responses to “Commodites sliding”

  1. George on March 12th, 2010 17:05 GMT

    Jamie,

    Did you forget Geithner is speaking? at 12.00 US central time :) )

  2. Trading Nymph on March 12th, 2010 18:08 GMT

    Jamie, QUESTION….last night Iron Ore Spot in China went up about 2% and the day shipping rates popped….Could the belief of the USD topping caused all that and if that 21/10 cross not play out we would expect that quick of a pull back?? My Real Question is…the commodity dealers in China, do they really move that fast and are they watching FX that close? I know, stupid question but I have to ask.

  3. Jamie Coleman on March 12th, 2010 18:10 GMT

    I can say with the utmost certainty that I have no idea what Chinese commodities traders look at…

  4. Trading Nymph on March 12th, 2010 18:16 GMT

    Thanks Jamie….I really am amazed how fast the “demand” swung overnight even with soft future markets and China being down…

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