(September 29 – 10:15 ET) –
The TD Commodity Price Index
rose a strong 1.3% in September,
due to improvements in energy
prices and the shocking rally
in gold – up 16% in total since
December, which TD believes will
boost Canada’s resource industries
over the next year and support the
C$.
Obviously gold is the big story
of late, after 15 central banks
agreed to limit their gold sales
over the next five years, putting
a strong boost in the price. Oil
has been strong too with OPEC
members sticking to their current
production levels. Nickel continues
to lead the base metals thanks to
increased demand from Asia.
Lumber prices continue to
disappoint, although stronger-
than-expected demand for pulp are
supportive. Agricultural products
also continue to decline, off 4%
from December.
IE Staff
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