"Economic indicators and forecasts are inherently flawed, because they are subjected to personal bias, upward and downward revisions and government interference. So when a leading economic indicator such as the Baltic Dry Index is forecasting a downturn, we'd better pay attention.
The Baltic Dry Index, published by the Baltic Exchange in London, measures the cost of moving major raw materials, including coal, iron ore and grain, by sea. Simply referred to as the BDI, the index covers Hnadymax, Panamax and Capesize dry bulk carriers over 26 shipping routes.
Despite the recent rally across world markets, the BDI is now down for 21 days in a row; rates seemed to have peaked on March 10 at 2298. Currently, rates on the BDI as of April 13 are 1557, which equates to a peak-to-trough decline of 55% in three weeks' time."
What does this portend for gold? Platinum?........maybe a pull back for Platinum since it rose so fast.....commnets welcome......
It's up ten days. The Baltic Dry is a index of bulk carriers carrying building materials, cement, grain, coal, and iron. Unlike stock and bond markets, the BDI is totally devoid of speculative content. The last high was March 10, 2009.
Thankyou for posting that information. IMO deflation and de-leveraging is what the world economy is all about. Gold and especially Gold miners went up during the last Great Depression of the 1930's. Does anyone think that the world population will go along with future unemployment?
Also, commercial loan's have not been factored in. Sure everyone want's low inflation but at what cost to the world economy! I voted for Mr. Obama and prejudice is an evil thing. IMO, Mr. Obama, his skill's proved in recent military situation's...... IMO, he is the Boss for the World situation that other world leader's are behind the curve.
BDI also predicts the future for inventories and existing supplies. When the shelves run empty due to lack of goods and no manufacturing to replace those goods, BDI ranks pretty high on the list of economic indicators. Hoard, hoard, hoard.