When the cost of gold rises in January C because it did recently by 5.3 % C it always means investors could possibly get other year being good one for the world’s commodities.
In fact, when gold has increased in January, the S&P GSCI, a catalog comprised of 24 commodity futures, went onto record an annual gain 72 percent of times, according to an analysis by S&P Dow Jones Indices. With gold being up recently, there’s a 72 percent chance that the S&P GSCI will rise this season.
The index has lost a little over 6 % up to now in 2016 C but tanked 26.One percent in the best Twelve months.
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Nine within the 24 commodities in the S&P GSCI posted gains in January. In the 15 negative ones, only three have observed just about all years ending negatively according to their losing January months, concluded Jodie Gunzberg, global head of commodities and real assets at S&P Dow Jones Indices who crunched the information.
Petroleum’s direction in January is simply just like a coin flip, however, if Brent crude or copper founder in the first month, the S&P GSCI has received a powerful year 63 percent and 68 percent of the time, respectively.
In January, the S&P GSCI lost 5.2 percent. Gunzberg’s analysis of the 24 commodities shows that there’s a 53 percent chance the index can easily 2016 in negative territory, providing fodder for the bears, too.
Financial Post
cpellegrini@nationalpost.com
