Good morning, Resource Investors.

Driven by the ever-weaker dollar, global financial insecurity and prospects for further gains, the supply of new money seeking refuge in the gold market continues to impress. Futures based on the yellow metal crossed the $1,200 per oz. level this week, with few analysts willing to call a top anytime soon. The hunger for gold continues to be reflected in holdings in the biggest gold exchange-traded fund, which rose to 1,129.99 metric tons the first of this week – as well as news that the world's largest gold production company has eliminated its protective hedge positions on the precious metal.

The energy markets focused on the debt troubles in Dubai as last week came to a close and this week got underway. Those worries, along with positive manufacturing reports out of the United States and China, dollar weakness, increasing demand expectations, and concerns that inventories are tightening have pushed crude oil back toward $80 a barrel.

The same manufacturing reports that have bolstered crude oil are also lending strength to the base metals markets, with copper hitting a 15-month high. Although the dollar, again, continues to play a role, news that China's manufacturing sector is expanding at its fastest pace in five years is increasing demand expectations to new heights.

It's all in these headlines, where you can catch up with what happened in the resource markets this past week -- and prepare for the next.

James Holter
Resource Investor