After a long downtrend in the commodities market, a big bounce is underway.
Recall that in last weekâ€™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 itâ€™s not just the precious metalsâ€™ 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.