Most commodities are enjoying a good start to the New Year.
- SPDRS Gold ETF (GLD) is up over 2% at the best level in nearly 2 weeks.
- US Natural Gas ETF (UNG) is up 4.7% after taking a hit on the last trading day of 2009.
- iShares Silver ETF (SLV) up 4% and back to last week's level.
- US Heating Oil ETF (UHN) up 2.75% and closing in on a 1-year high.
- iPath Coffee ETN (JO) up 3%.
- PowerShares Base Metals ETF (DBB) up 1.6% to a fresh 15-month high.
A weak US Dollar in combination with the strong economic numbers out of China, Europe, and the US are all lending a hand to the commodity rally. We feel the commodity rally has legs to continue into 2010 with or without the help of a weak US Dollar. Think inflation and an improved economic landscape. |