Gold Hits Resistance, Time To Worry?

Gold had been flirting with the $1,800 level over the past few sessions, however, comments from Ben Bernanke coupled with robust economic data simultaneously paved the way for profit taking on Wednesday. Selling pressures hit the precious yellow metal hard after comments from the Fed painted a conservatively-optimistic outlook for the U.S. economy, putting a damper on inflation expectations. Gold prices dropped over 4% on the day as Chairman Bernanke’s testimony did not offer any indications that another round of quantitative easing would be initiated [see Why Warren Buffett Hates Gold].

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Hot Commodities: Orange Juice Futures Lead Commodities For 2012

With almost an entire month in the books, 2012 is shaping up to be a strong year for commodities, as a number of these investments have produced handsome gains. Futures for gold, cocoa, and silver have garnered a fair amount of attention, delivering eye popping gains in a relatively short period of time. But for those looking for a truly hot commodity, no product has been able to outdo orange juice. While these futures are certainly more obscure than something like gold or oil, their gains for the year are impossible to ignore [see also 50 Ways To Invest In Agriculture].

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Hot Commodities: Cocoa Futures Soaring

Cocoa, one of the most popular soft commodities, has been surging to start off 2012 after a rough end to last year. From their high point in March, cocoa futures endured a drop of more than 41% through the end of 2011. But this year is already looking up, with futures up approximately 7.6% through the first half of January. In fact, the only commodity to turn in a better performance over the two week period was orange juice. The big story for cocoa last year came from the Ivory Coast which suffered through a civil war that put significant pressures on the production from the world’s most significant cocoa nation. But this year seems to be a different story, and the start of a trend that may help traders rake in some healthy gains [see also Ultimate Guide To Cocoa Investing].

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