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Commodities Flying Today


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. 


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