Behold the Commodities Bounce
After a long downtrend in the commodities market, a big bounce is underway.
Recall that in last week’s Making Money Alert, I wrote about the gains in gold and gold mining stocks. Those gains really have ramped up since that mention, but it’s not just the precious metals’ segment that has been enjoying a bounce of late.
The entire commodities sector has been on a tear. One look at the chart of the GreenHaven Continuous Commodities Index Fund (GCC) shows the big rebound in the space off of the multi-year lows we witnessed in January.
As you can see, commodity prices have spiked significantly during the past month, with GCC up nearly 7%. The latest resurgence in the space now has GCC back above its 50- and 200-day moving averages.
So, why are commodities doing so well here?
Read more about the recent bounce in the commodities market at Eagle Daily Investor.