The powerful rally in commodity markets is defying a global economic slowdown because investors are fleeing battered stock and bond markets, and the impact of their cash is being amplified by new, easier ways to buy and sell raw materials.
Demand remains strong and supply tight for many commodities, helping drive prices to record heights. But, in recent weeks, institutions, hedge funds and individuals have fueled much of the surge in everything from oil to wheat to platinum by pouring money into new investment vehicles that let them quickly and easily make big bets in relatively small markets.
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