Commodities on the slide – the long run-up stops for a breather

Raw materials’ prices have hit the skids following a 25% rise over the past three months. But the fact remains that we are in a commodities supercycle with many years left to run.

Raw materials' prices hit the skids last week following a 25% rise over the past three months. Oil fell by almost 10% after hitting a new record peak of $111.80 a barrel on Monday, gold sank by 11% in three days and on Wednesday notched up its worst one-day fall in over 17 years.

Platinum lost 10% and wheat was down by 17%. Base metals also tumbled. The CRB index, tracking 19 commodities, slid by more than 8%, the worst week since its inception in 1956.

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