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Commodities Index Could Lose 40%: Analyst
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by pankaj kumar | October 19, 2008 at 09:52 am
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The commodity market is still very much pricing in a further slow down and the signs we're seeing at the moment suggest that the process is intensifying rather than diminishing," Roberts said while taking a technical look at the Goldman Sachs Commodities Index.
The GSCI, which tracks a broad basket of commodities including oil, wheat and lean hogs, could lose another 30 percent to 40 percent, according to Roberts.
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at 11:33 on October 19th, 2008
Commodities could return to what passes for normal. The runup the past year or two seems to be a simple panic, a bubble kind of thing due mostly to oil. Gold is resisting return to its proper pricing, but it too will come down to about 450. All commodities are headed up long term, which means on a scale of years.