CHART: China fears see hedge funds enter unprecedented bearish position on major commodities including crude oil, gasoline, gold, copper, corn and wheat.
A recent decision by Peru’s government to require mining companies to carry out prior consultation with indigenous communities is set to further complicate the investment climate.
Unless demand picks up or more miners cut output, prices for raw materials are set to stay low for years, or worse, continue to drop, the investment bank predicts.
Indian households sit on 20,000 tonnes and the Modi government's two-week old scheme to bring gold into the financial system looks like a spectacular flop.