Jan. 4 (Bloomberg) -- Platinum advanced to a record, soybeans climbed to a 34-year peak, and crude oil and gold traded near their highest ever, as a declining dollar increased the allure of commodities as a hedge against inflation.
The UBS Bloomberg Constant Maturity Commodity Index rose as much as 1.7 percent to a record 1,327.21 yesterday as oil jumped to $100.09 a barrel and gold for immediate delivery reached $868.89 an ounce. Copper extended its advance in London today, heading for its biggest two-day gain in almost nine months.
But....but.....The government says inflation is only at 2.8%!?!