Rally in commodities

Gold has risen to an all-time high with the expectation that the Fed will begin monetary easing this year and the geopolitical risk created by Reisi’s helicopter crash. Gold has risen to an all-time high with the expectation that the Fed will begin monetary easing this year and the geopolitical risk created by Reisi’s helicopter crash. In Asian trading, gold rose as much as 1.1 percent and reached a new record at $2,440. Nicholas Frappell, global head of institutional markets at Sydney-based ABC Refinery, drew attention to the news flow originating from Iran and commented, “Given the low liquidity levels in Asia, investors are likely reluctant to reduce their positions.” Comex futures also showed on Friday that hedge funds’ optimistic gold positions had risen to a three-week high. Meanwhile, copper prices, which have risen in recent months on expectations of limited supply, also reached a new high. Copper rose as much as 4.1 percent on the LME futures market and broke a record at $11,104.5. While short selling on the Comex exchange is accelerating copper shipments to the U.S., it is also tightening copper supplies elsewhere, according to Jinrui Futures Analyst Gong Ming. “With the increase in exports, we may see inventory reduction in the Chinese copper market,” Gong Ming said.