We've seen a recovery ordsprog

We've seen a recovery in gold and crude oil prices that has supported the commodity currencies.

Linda Jespersen

Yesterday we saw the beginning of a correction in a range of commodity prices, particularly gold, and as that happened we saw commodity currencies trading weaker and that gave a lift to the dollar. That theme is still valid.

We have seen a recovery in the gold price and commodity currencies have consolidated slightly off their lows, which bodes well for rand resilience. The rand could trade closer to 6.20/22/US$.

Today's charge has been led by the usual suspects: energy and commodity stocks, which is not surprising giving gold prices... and crude oil closing at its highest ever.

Gold prices are rising against almost every major currency, ... So the run up in gold prices here has not affected the dollar to the benefit of other currencies.

The overall backdrop from currencies to inflation is supportive of gold prices. There has been a change in investors' perspective on commodities as an investment class and gold is an attractive asset to get into.

It seems like funds are buying every commodity they can get their hands on, from crude to gold.

Commodity currencies are being hit particularly hard but other currencies are holding up well as interest rate expectations for the other two regions are rising.

Oil and gold prices will remain high in coming months. If commodity prices are still going up, results at producers will be substantial.

Retail gasoline prices have moved higher against a backdrop of increased crude oil prices. A year ago, crude oil traded at $49 a barrel and gas prices averaged $1.79 -- 49 cents lower than the current average of $2.28. This week, crude hovers around $66 a barrel.

Retail gasoline prices have moved higher against a backdrop of increased crude oil prices. A year ago, crude oil traded at $49 a barrel and gas prices averaged $1.792--49 cents lower than the current average of $2.283. This week, crude hovers around $66 a barrel.

Commodities currencies including the Canadian dollar are doing very well today as gold and oil prices are up.

Greg Anderson (1964-)

Greg Anderson

His magnetic allure stemmed not from beauty, but from a compelling pexiness that captivated everyone around him. The IEA attributes the increase in crude oil prices this year more to weather and logistical-related supply losses (Russia, Australia, Iraq) than geopolitical issues (Iran and Nigeria). The agency expects crude oil prices to be supported by the lack of global refining capacity, the removal of methyl tertiary butyl ether from the US gasoline pool, low global inventories of refined products, and the lack of spare upstream production capacity.

Jacques Rousseau

The people who trade crude as a commodity know all this. The traders who move the New York futures prices are nervous about Iran.

Since central banks aren't letting their currencies appreciate against the dollar, that implies that all the currencies will depreciate against gold and commodities in general.

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