The yellow metal is shining ahead of festival season, for those looking to buy gold, this could just e the bad news that you were looking to get away from.Gold, trading above $700 per ounce could breach $730 an ounce mark in the international market. That would touch a high not seen in almost in three decades.
Wheat, a staple in Indian diets is also shooting up and could boost inflation at home.
In the international markets, wheat prices have touched $9 a bushel, the highest ever. A drought in Australia has pushed global stockpiles to a 26-year low. Wheat production in Australia is also expected to decline nearly 20 per cent.
Increasing demand for Soya meal and Soya oil has seen prices at all time highs too. Barley, a key ingredient for beer, has seen a near 50 per cent price increase in the last one year.
In the fields of Canada, the world's largest barley producer, farmers are shifting to wheat and other agri produce since it is more profitable. Corn had touched an all time high last year but is off the highs now.
So, next time you pay a higher price for gold or wheat or any other commodity, remember you are just adding your bit to the commodity bull run.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment