Weekly Fundamentals - Gold Still Looks Cheap in Inflation-Adjusted Term

Commodities moved with great volatility in the past week, driven by intensifying concerns of US double-dip recession, spreading of sovereign crisis from the European periphery to core economies, speculations of Fed's easing measures and somehow supportive macroeconomic data. During the week, the front-month contract for WTI crude oil plummeted below 80 for the first time since October 2010 while the equivalent Brent crude broke below 100 first the first time since February 2011. Both benchmarks recovered later in the week in tandem with the rebound in equities.

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Weekly Fundamentals - Gold Still Looks Cheap in Inflation-Adjusted Term