Is the commodities bull market over?

Seeking Alpha(Editorial, August 12th) reports most commodities’ price decline in the last five weeks brought some analysts to call for the end of the bull market in commodities.

Many analysts explain the recent sharp decline in the price of commodities by the strengthening of the dollar, because the price of commodities is denominated in dollars. Naturally, the dollar and commodities move in opposite directions, but that cannot explain such a big decline in the price of commodities, since the dollar has risen only by 6.44% from its lowest value in all time against the euro 1.60 on July 15^th 2008, and commodities have shown much bigger move, a decline of 26% by average.

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