We are seeing gold and copper being strongly affected by the weakening dollar today, as we saw beginning to happen last week. As commodity prices jump, last week the European Union levied a 24% anti-dumping duty on China's steel and wire rod for five years. This follows the temporary duties instituted in February 2009, following claims that Chinese producers were dumping product on European markets. As we see anti-dumping measures emerge again and copper consumption begin to pick up, we can also expect Chinese manufacturing to rise (today’s numbers revealed that Chinese manufacturing expanded again in July), signs that things could be turning around.
