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28/01/2010 00:00 AST
Noted global economist Nouriel Roubini says that there have been ‘excessive increases’ in gold and oil prices that is creating possible commodity bubbles.
Talking to reporters at the World Economic Forum at Davos, Switzerland, Roubini—a professor of economics at the New York University--said that there is an urgent need to curb the excessive rise in prices in commodities.
Saying that several asset bubbles have sprung up in the last few months across the world, Roubini said that the global economy may be on a path to recovery, but it is at the same time saddled with shocks and great risks.
He said investors are taking money from banks with low interests and betting in uncertain markets including stocks and commodities. “The fact is that several asset bubbles are being formed around the world, and the governments around the world need to be cautious and need to take action,” the noted professor pointed out.
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Bloomberg
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
(In US Dollar) | Change | Change(%) | |
---|---|---|---|
Gold | 1,332.2 | -8.6 | -0.64 |
Silver | 16.4 | -0.21 | -1.23 |
Platinum | 923 | -9 | -0.97 |
Palladium | 929 | -3 | -0.32 |
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