Worldwide Asset Manager: “Cornerstone Worldwide” – Commodities Plunge on Dollar.

Sept. 16, 2008 - PRLog -- Cornerstone Worldwide are apparently confident that the resurgent US dollar’s fortunes on global currency markets will be short-lived despite the fact that Hurricane Gustav has largely left the Gulf of Mexico’s oil production infrastructure untouched.

A source close to Cornerstone Worldwide said the Asian-based wealth management firm is expecting the dollar to come under increasing pressure in the run up to the banking sector’s third quarter reports.

A Cornerstone Worldwide research spokeswoman reportedly pointed to the immediate bounce demonstrated in gold prices even though crude oil touched a low of $105.52 during furious trading on the NYMEX as a sign that gold, currently enjoying massive demand from India and the investment community, may be decoupling from oil and reasserting its anti-inflationary status.

Cornerstone Worldwide are widely thought to believe the fallout from US banking turmoil will lead to further economic woes for the world’s largest economy and higher inflation than generally acknowledged.