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Commodities Register Strongest Monthly Gain Since September 1990
added: 2009-06-03

The S&P GSCI, the most closely followed benchmark for investment performance in the commodity markets, registered its biggest one-month gain in May since Iraq invaded Kuwait in September of 1990. According to Standard & Poor's Index Services, the S&P GSCI increased 19.67% in May compared to a gain of 22.94% in September of 1990.

"Solid commodity gains in May were attributed to most commodities accelerating the recovery process from the sharp declines experienced during the second half of 2008 and first quarter of 2009," says Michael McGlone, Director of Commodity Indexing at Standard & Poor's and author of the S&P GSCI Commodity Perspective posted monthly to www.spgsci.standardandpoors.com.

Year-to-date, the S&P GSCI has registered a total return of 5.95%, led by strength in the Energy and Agriculture sectors. Sparked by price increases in unleaded gas and crude oil, the S&P GSCI Energy Index increased 25.44% on the month for a year-to-date gain of 4.38%. The S&P GSCI Agriculture Index was the second best sector performer in May increasing 12.37% during the month for a year-to-date gain of 8.18%.

The metals also performed well in May as indicated by the 11.41% increase in the S&P GSCI Precious Metals Index. Year-to-date, metals are up 12.71%. The S&P GSCI Industrial Metals Index increased a more modest 5.82% on the month; however, the S&P GSCI Industrial Metals Index has been the strongest year-to-date sector performer with a gain of 22.23% led by the 55.72% increase in the S&P GSCI Copper Index.


Source: PR Newswire

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