Gold, Copper, Diversified Stocks Hit Records

Source: Mineweb.com  (10/12/07)

This was a week when the Bank Credit Analyst, said the global economy is on a Goldilocks path: "just enough liquidity and just enough growth", which is perceived as "just right" for commodities. Provided the US escapes a recession, analysts at BCA Research argue, the current environment is positive for commodity plays...


...resources stocks continued to lead world markets over the past week...

This was a week when gold bullion pitched above US$750 an ounce, when platinum made new records above $1400 an ounce, and where demand for crude oil kept those markets on the brew. This was a week when the Bank Credit Analyst, said the global economy is on a Goldilocks path: "just enough liquidity and just enough growth", which is perceived as "just right" for commodities. Provided the US escapes a recession, analysts at BCA Research argue, the current environment is positive for commodity plays...

Within the global mining stocks sector, investors continued to favour, after the diversifieds, selected gold and copper names. Stocks within these three sectors made fresh records during the week, leaving other sectors ample room to catch up. While price action in metals markets remains key to stock price development, and varies according to metal and commodity, some sectors may remain behind for some time. Uranium stocks remain, on average, 41% off 12-month highs. At the other end of the scale, after diversified, gold and copper stocks, zinc stocks appear primed to move to fresh highs in the short term future.

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