Capital Economics: Commodity Trend Lower Is Strongest Force

A strong and persistent trend is taking place in commodities, a July 31 report from Capital Economics notes, and nothing is likely the change the “current malaise,” and this includes what is expected to be strong economic data released this Friday in the U.S. unemployment report. As Capital Economics sees further job losses in both the oil industry as well as South Africa’s mining industry, a Bloomberg study coalesces with the commodity price trend. It notes a study of 16 key traders and analysts that point to continuing drop in the price of precious metals. Oil commodity prices not just…