The commodity industry is bracing for a high year of bankruptcy and
default filings that will impact mining and metals along with oil and
gas. Moody’s has also warned of global speculative-grade corporate
defaults that will increase by more than 30% in 2016, reaching the
highest level since 2009. Those interested in mining shares should pay
close attention to what they are buying. Until gold crosses that key
resistance, we still have only a typical three-month reaction. A rally
must extend beyond March to be impressive.
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