LONDON -- This week saw the FTSE 100 and the other major European stock markets turn from doom to boom on Thursday following comments from European Central Bank president Mario Draghi that he would do whatever was necessary to save the euro. Although there is not yet any new policy to back this statement up, the sentiment seemed to have the required effect on the markets.
Commodities were not immune to the mild euphoria affecting traders, and following the news a number of commodities, including gold, silver, and Brent Crude oil, all made gains.
Here are the latest prices, taken at 10 a.m. EDT Friday morning:
Price Change %
Brent Crude outperformed its American cousin, West Texas Intermediate, to end the week up slightly at nearly $106 per barrel, while WTI crude fell by 2.7%. Investors in ETFS Brent Oil 1 Month ETC (ISE: OILB.L) and ETFS Crude Oil ETC (ISE: CRUD.L) saw corresponding changes in the value of their holdings, which track Brent and WTI, respectively.
Silver did well this week, rising 2.9% and taking db Physical Silver ETC (ISE: XSIL.L) up with it, but investors in ETFS Corn ETC (ISE: CORN.L) and ETFS Wheat ETC (ISE: WEAT.L) saw last week's record prices recede a little as the markets adjusted to the consequences of the U.S. droughts.
If you are interested in investing in commodities, it's worth remembering that shares in commodity companies have outperformed their underlying commodities many times over the last 10 years, thanks to their ability to magnify their gains through successful development of new resources.
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