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August 9, 2009

Weak dollar, upbeat data support commodities – The Associated Press(News)

Filed under: Uncategorized — Tony Spann @ 1:41 am

NEW YORK — A weak dollar and more upbeat data on the economy is making a strong case for buying precious and industrial metals. Commodity prices are higher for a fourth day in a row as the National Association of Realtors says pending home sales rose in June by more than analysts had expected. As more data suggests the economy is heading toward recovery, investors believe demand for basic materials will pick up. A weaker dollar is making commodities more attractive to foreign buyers. read more

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