Gold, oil, copper and a host of other commodities were heading lower Monday morning, continuing a recent pattern that has some wondering if the commodity "super-cycle" has come to an end.
After falling 13% in 2011, the Dow Jones-UBS Commodity Index entered this week at its lowest level since September 2010 amid concern about slowing global growth hurting demand. In addition, the dollar has benefited from Europe's ongoing debt crisis, resulting in lower prices for hard assets, notably gold and silver.
More weakness is likely in the short-term, in part due to seasonal factors as well as the slowdown of the economy, says Frank Holmes, CEO and CIO of U.S. Global Investors. Crude, for example, could "easily" fall to as low as $80 mid-summer he says, predicting continued near-term weakness for gold as well.
But Holmes -- a long-time, long-term bull on resource assets -- says additional short-term weakness will prove to be a long-term buying opportunityRead More »from The Long-Term Case for Commodities: “When Push Comes to Shove, They’re Going to Print Money”