It turned out to be another wild day on Wall Street. The equities market managed to hang on to most of its big gains from yesterday and is now on the cusp of a bullish streak. But even better than the equities market today was the commodities sector.
The prices of oil, gold, silver, coal, cocoa, natural gas and the rest of the gang were up today thanks to some key rate cuts across the globe. China and the United States cut their short-term lending targets and it appears that Japan may follow suit.
Rate cuts mean there is an increased chance of a boost in economic activity and that means commodities traders have a reason to increase prices.
Crude prices surged by…