Chinese commodity buying supports sentiment

ABN Amro/Caspar Burgering, Hans van Cleef and Georgette Boele

“The CRB-index has increased by almost 6% over the past month. The recovery was led by a robust uplift in oil prices. China is partly responsible for the recovery in prices, since the country has a strong foothold in the imports of many commodities.”

USAGOLD note:  Something that has escaped the notice among market analysts:  the beginnings of a rebound in commodities, according to ABN Amro, as shown in the chart below.

line chart showing CRB index rebound in commodities

Repost from 7-6-2020

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