Nick Moore joined BlackRock Inc. as managing director and commodity strategist.
Commodities are in the early stages of a “price relapse” that may last through the first half of next year, said Nick Moore , head of commodity strategy at Royal Bank of Scotland Group Plc.
The biggest decline in aluminum prices since the global recession means at least 25 percent of the world’s smelters may be unprofitable.
Gold traders are the least bullish in two months after prices erased more than half of this year’s gain on speculation that a strengthening U.S. economy will dissuade the Federal Reserve from buying more debt.
Nikos Kavalis has joined RBS Global Banking & Markets in London as a metals analyst, said Nick Moore, chief commodities strategist.
Copper fell for a second day in New York on concern demand may weaken as China, the world’s biggest consumer of the metal, moves to cool inflation.
Nickel, this year’s best-performing commodity, is poised to decline as world supplies climb at the fastest pace in a decade and China’s search for lower-cost alternatives slows demand growth.
Gold futures closed at the highest price in four weeks as a weaker dollar bolstered demand for commodities. Silver, platinum and palladium also surged.
Gold holdings in exchange-traded products backed by the metal have topped reserves held by Italy and France, according to the Royal Bank of Scotland Group Plc.
Copper fell in New York and London, heading for a second weekly drop as the dollar climbed further on concern about sovereign finances in Europe.
"Precious-metals markets are waiting for comments from the ECB and FOMC, to see if any guidance of more decisive action and, ultimately, balance-sheet expansion is given. QE3 remains a possibility further ahead."
- Nick Moore on Aug 01, 2012
Silver Plunges 27% in a Week, Most Since 1975