China still continues to be one of largest consumers of several hot commodities like copper, nickel, silver and gold. Most agricultural commodities around the world have been on a high thanks to the ballooning consumption of rice, wheat, coffee, tea, soybean, cotton etc by the Chinese.
Interestingly, the bullion banks (and the governments that back them) that are selling gold and silver futures contracts that they control delivery into, seem quite happy to print or electronically generate more and more fiat currency to pay for any potential losses they incur.
Gold may not rally strongly until there is more clarity on Europe, said TD Securities (TDS) in a commodities briefing. TDS is the global wholesale banking arm of Toronto-Dominion Bank Financial Group.
The Steel Index (TSI) data showed Tianjin port prices for 62% Fe fines fall0.6% on week to $130.5 per dry ton while 58% Fe fell 1.6% to $122.6 per dry ton.
