Fresh High for Gold, Commodities Follow Suit

While it seems a bit cliche by now, gold has reached another new high overnight. Perhaps the broader story is that with monetary easing appearing to continue for some time, commodity prices are reinflating rapidly (see the second chart, a daily one of corn). Perhaps this is at least in part due to the better prospects for the U.S. economy, based upon improved data releases today of consumer confidence and durable goods orders, and the higher demand pressures that those improved conditions will create. Even crude oil has rebounded more than $5.00 per barrel from its most recent low prices.