Peter Hickson, a commodities strategist at UBS says the commodity market is due for a “significant” correction. Hickson is concerned that many commodities have simply run too far too fast. He is still bullish on oil and gas, however, is increasingly concerned about precious metals. Within the metals space he prefers gold to silver.

Source: Bloomberg


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Cullen Roche

Mr. Roche is the Founder of Orcam Financial Group, LLC. Orcam is a financial services firm offering research, private advisory, institutional consulting and educational services.

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  1. Cullen, going by your metric, dxy should rise and commodities should fall to signal the end of bull market. This looks like some profit taking subsequent to parabolic run ups.

    Looks like currency markets are still pricing in further QEs at present.

  2. Saw an interesting article in a german newspaper.( FAZ )

    ” Portugal thinks about selling it’s gold reserves to finance it’s dept. ”

    I was just thinking who else could come up with the same idea?

  3. Such a pertinent question – if the commodity run is over so is the EM infrastructure and development boom that has been so benificient to the global economy, especialy the indebted Western nations. What does that mean if we lose that leg of the stool? Can we lose it without the stool falling to the ground and fully breaking?

  4. It you are sitting on the stool you can lean to the other side and wait until someone comes installing a new leg.

  5. The Bernanke is VERY, VERY, happy about this commodity beating. The lynching may have to be put on hold….