Real-time thoughts & analysis of the markets, economy & more...
Co-founder & CEO of AllenWargent property market & hedge fund advisory.
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Pete Wargent blogspot
Co-founder & CEO of AllenWargent property advisory, offices in Brisbane (Riverside) & Sydney (Martin Place) - clients include hedge funds, resi funds, & private investors.
4 x finance/investment author - 'Get a Financial Grip: a simple plan for financial freedom’ (2012) rated Top 10 finance books by Money Magazine & Dymocks.
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Saturday, 3 September 2016
Commodity prices rise again
The Reserve Bank of Australia's Index of Commodity Prices increased by a solid 1.5 per cent in August after surging by a revised 3.9 per cent in July.
The index has now risen by more than 15 per cent since January.
The improvement was driven the by bulk commodities, iron ore and coal.
Coking coal prices have been going berserk since February, recording astonishing gains.
As the RBA's index is reported on a monthly average basis, there may be further gains to come next month too.
In fact, when using spot prices for the bulk commodities, the index has surged 8.8 per cent higher over the past year.
In Aussie dollar terms, however, the RBA's index remains 3.8 per cent lower than it was one year ago.