Investor demand and spot commodity prices: Reply

John Tilton (), David Humphreys and Marian Radetzki

Resources Policy, 2012, vol. 37, issue 3, 397-399

Abstract: In a recent article (Tilton et al., 2011), we argue that even when investor stocks are declining an increase in investor demand can cause a commodity's price to rise, a conclusion that is both contrary to conventional wisdom and counter-intuitive. In his comment on our article, Olle Östensson (2011) challenges this finding. After assessing his concerns in this reply, we maintain that our original finding is valid: investor demand can be driving commodity prices higher even when investor stocks are falling.

Keywords: Commodity prices; Investor demand and stocks; Speculation; Strong and weak contango; Spot and futures markets (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:37:y:2012:i:3:p:397-399

DOI: 10.1016/j.resourpol.2012.02.003

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