voracious demand from the Chinese manufacturing sector. will shoot commodities prices to the moon
The base metal was closely followed by copper, which rose 140pc on the London Metals Exchange .
In fact, there has hardly been a poorly-performing commodity this year – wheat and natural gas being the notable exceptions.
Platinum is up 57pc, and palladium, used in catalytic convertors rose 119pc. Gold racked up the longest winning streak since 1949 with its ninth consecutive annual gain. Even crude oil, despite a tough year for the energy companies, advanced 78pc.
And among the agricultural commodities, sugar was the star performer, gaining 129pc on fears that harvest in Brazil and India have been damaged by the weather.
"I am flabbergasted at Roubini's comment about bubbles because there is not a single market in the world making all-time highs except gold, US government bonds, cocoa, and the Sri Lankan stock market.
"That's hardly reason to call for a bubble. So I am most perplexed about this alleged bubble which is out there," Mr Rogers told the Wall Street Cheat Sheet.
Jim Rogers disagrees with Nouriel Roubini , who believes that the gold is a bubble ready to burst because it has no intrinsic value
via the Telegraph
