We think that oil prices will decline to $80 per barrel in the coming weeks and perhaps as low as $50 in the coming year. Agricultural commodity prices could still drop by as much as a third from current levels and industrial metals by another quarter. Gold prices might gain a little more support if equity markets continue to slump, but we expect gold to be back at $700/oz by early 2009.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.