Commodities down sharply in Oct
Due to severe global economic crisis, commodities suffered worst during the month of Oct 08. The sharp fall in all major commodities is indicator of the things to come. According to Mr Michael Lewis, head of commodities research of Deutsche Bank, the entire commodities index has gone down severely
Oil, is down more than 50 percent from a record peak of $147.27 a barrel in July. Most Metal prices have also registered huge falls. Aluminium, zinc, lead and nickel prices all now trading below marginal costs," as per research note by Barclays Capital. The crisis in the banking sector is causing ripples into wider economy. Gold too saw biggest decline in last 25 years in Oct'08 which is considered safe.
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