How will we pay for $4 gasoline and $8 wheat? What will keep our bond portfolios from being shredded by Ben Bernanke's printing press? Owning commodities is one way to defend against a run-up in inflation. I assume you know all about gold bullion funds. Here I will dissect three lesser-known commodity plays: an industrial metal fund, a futures fund and a commodity-linked note. First on the list is an exchange-traded fund with a stockpile of palladium, a $700-an-ounce element used in catalytic converters and electronics.
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