That represents a 15 percent decline from the start of the week and the lowest point since March of 2009. All told, market analyst EPFR Global estimates that around $490 million were removed from commodities markets in week ended December 21.
"Going into 2012, there's a very, very high probability that we can see some fairly hefty declines in the commodity markets," Stephen Hammers, chief investment officer at Compass EMP Alternative Strategies Fund, which manages roughly $500-million-worth of assets, told Bloomberg.
However, Bloomberg reported on December 20 that the Standard & Poor's GSCI Index, which tracks 24 key commodities, was primed for its largest rise since October, rising 2.5 percent to 634.69 by 1:07 p.m. that day. By 2:43 p.m., December 27, the GSCI had reached 645.88, up 1.76 percent from the week before.
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