Commodities across the board were generally lower in the week hurt by negative stock markets after disappointing U.S. jobs data recently plus concerns about the increased likelihood of a Greek default. The exceptions were gold, rough rice, cotton and natural gas which gained in the week mainly due to safe haven and weather related issues. Gold reached a new nominal high above $1,900 after its safe haven status was further boosted by the Swiss National Bank's decision to introduce a floor for the franc against the euro. In the short term continued concerns about Eurozone debt and further increases in the dollar are expected to keep the pressure on commodities.

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