Monday, Nouriel Roubini, the New York University economist, known for predicting the financial crisis, reportedly said he expects commodity price to increase further next year with rising economic growth. He said, As the global economy goes toward growth as opposed to a recession, you are going to see further increases in commodity prices especially next year.

He said at the Diggers and Dealers mining conference in Kalgoorlie, Western Australia that the Australian economy would grow only 2% in 2010, while the U.S. is expected to expand 1%. Meanwhile, he expects the global economy to shrink 2% this year.