Similarly, for platinum, silver there must be some use for those i.e supply and demand - or real industrial use. Over the last decade commodities were doing well.
However, these have not been so for the last one year or even more. Read the news I picked up from BusinessInsider below.
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Silver is getting crushed.
On Friday, Silver fell more than 3% to less than $18 an ounce, its lowest level in more than four years.
The price of gold also fell about 0.8% and touched its lowest level since January. Gold has been weak recently and is approaching a four-year low.
Platinum also fell to a nine-month low.
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What actually happened. These commodities are no longer used for its real purpose i.e. industrial, consumption etc. They have been pretty much speculated. Or could it be China's slowed consumption? I am pretty sure we are not worse off today as compared to four years ago globally. Although it made some sense that gold were sought after during bad times or during period of uncertainties, but what about platinum, copper or silver? Aren't they sought after for industrial purposes?
For that matter I am not really sure whether palm oil has found its low.
For a while, investors have been very speculatively positive over commodities and they seemed to have lost their fangs recently.
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