The global commodities market has been volatile this year, with prices remaining largely elevated. ➡️ Orange juice and cocoa futures surged to record highs in the first half of the year, while crude oil prices fluctuated with headlines from the Middle East. Gold prices continue to rise, but that of base metals like iron ore slipped considerably. Scroll to find out which commodities soared and which took a dive. Read the full story here: https://cnb.cx/3SXz5pY
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Commodities in Five Charts: $40 Crude, $3 Copper, $4 Corn Tilt - Commodity buoyancy in 2024 may depend on a rising stock market, with ebbing implications. Weak crude oil, copper and corn vs. strong gold is a global recessionary trajectory. About $40-a-barrel crude, $3-a-pound copper and $4-a-bushel corn are typical retracement levels. Resilient equities and high interest rates could be top gold headwinds. The full report is on the Bloomberg terminal here: https://lnkd.in/eRXEKPBj {BI COMD} Bloomberg Intelligence #crudeoil #commodities #macroeconomic
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CEO and Chief Investment Officer at U.S. Global Investors | Executive Chairman of HIVE Blockchain Technologies
Timely, balanced and thoughtful research with a useful POV
Commodities in Five Charts: $40 Crude, $3 Copper, $4 Corn Tilt - Commodity buoyancy in 2024 may depend on a rising stock market, with ebbing implications. Weak crude oil, copper and corn vs. strong gold is a global recessionary trajectory. About $40-a-barrel crude, $3-a-pound copper and $4-a-bushel corn are typical retracement levels. Resilient equities and high interest rates could be top gold headwinds. The full report is on the Bloomberg terminal here: https://lnkd.in/eRXEKPBj {BI COMD} Bloomberg Intelligence #crudeoil #commodities #macroeconomic
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📢 Precious Metals Traders - Check out Today's Market Watch 📈💰 With the Fed's potential interest rate adjustments looming and the Middle East's instability, here's key market movements: 🔸 Gold Rising: Amidst a softer US dollar and looming rate cuts, gold shines as a safe-haven asset. 🔸 Oil Market Dynamics: Despite drops in US Crude Oil stocks, concerns mount over rising refined product inventories. 🔍 Stay informed for US Core PCE Index - could impact gold's trajectory. Read more about the seize trading opportunities in the precious metals market! https://lnkd.in/eT_RRink Start trading with us at bit.ly/openaccount_1 #technicalanalysis #goldprice #WTIOIL #XTIUSD #goldprice #tradingstrategy #marketwatch #oilprices #XAUUSD #tradingsignals #oil #USDollar #CrudeOil #OilMarket #interestrates #inflation #metal #tradingview #FederalReserve #gold #middleeast #ratecut #PCE
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Commodities Gold Prices Gold Price Forecast: As US jobs data loom, XAU/USD bides time before retesting record highs https://lnkd.in/d2q7CX4M Continuous Losses in Crude Oil https://lnkd.in/dB8vc8-v
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The commodity markets are firing signals, with many commodities starting to break out in recent weeks. The rally, which was once contained to copper and gold this year, has broadened out majorly. This rally reflects developments in: · Global demand uptick for materials (manufacturing resurgence) · Demand for metals used in electrification and green technologies (EVs) · Unwinding of short positions · Weather-driven supply constraints · Currency debasement fears & central bank gold purchasing · Continuation of geopolitical tensions At the end of 2023, ~35% of commodities were above their 200-day moving average, whereas today we see a level closer to ~70% - quite the uptick, signaling the rally's breadth. The question is whether this commodity rally will feed into rising inflation towards end-2024, causing pressure on yields and asset prices - though commodity-biased regions may benefit. #assetallocation #commodities #gold #copper The 13 commodity futures used below are: Oil, Gold, Iron ore, Copper, Orange Juice, Cocoa, Coffee, Corn, Soybeans, Silver, Aluminum, Natural Gas and Zinc.
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*Morning Market Update*: Gift Nifty 20105(-38)-0.19%(PE 21.5) Dow Jones 35430(+13)+0.04% Nikkei 33237(-84)-0.25% Hang Seng 16962(-31)-0.18% Shanghai 3020(-2)-0.07% Brent Crude $82.9 Gold $2045 $/Rs 83.33 FII+72cr DII+2362cr 10 Yr GSec 6.54-2032 YTM 7.252 *News & Views*: * US mkts rally fizzles after strong US GDP print * Asian mkts trading subdued amid slew of data releases & awaits OPEC+ meeting outcome * Nifty: Support 19900 Resistance 20222 * Telangana Assembly polls today; Exit Polls post 6pm onwards * India to continue mining laws amends to boost supply of critical minerals #minerals #telanganaelections #technicalanalysis #stockmarketnews #nifty #sensex
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*** Commodity Price Tracker – March 2024 *** • Prices of most commodities tracked improved in March, with the #gold price continuing to reach new highs • Predicted rate cuts, geopolitical uncertainty and increased buying from central banks helped push the gold price to a record high of US$2,255/oz in March • Meanwhile, #ironore prices have continued to fall amidst rising inventories in China, and subdued demand for steel as growth in construction declines, also impacting coking coal prices • The copper price improved as demand picked up in China after the Lunar New Year holidays, with inventories also declining • A weaker US dollar helped to drive up the #silver price in March, but with improving demand and an element of safe-haven support, it continued to rise despite a strengthening US dollar towards the end of the month #commodities #zinc #platinum #lead #cokingcoal #coal
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Senior M&A Adviser, Central Business Development Upstream and Integrated Gas. All views are my own
Helpful summary
*** Commodity Price Tracker – March 2024 *** • Prices of most commodities tracked improved in March, with the #gold price continuing to reach new highs • Predicted rate cuts, geopolitical uncertainty and increased buying from central banks helped push the gold price to a record high of US$2,255/oz in March • Meanwhile, #ironore prices have continued to fall amidst rising inventories in China, and subdued demand for steel as growth in construction declines, also impacting coking coal prices • The copper price improved as demand picked up in China after the Lunar New Year holidays, with inventories also declining • A weaker US dollar helped to drive up the #silver price in March, but with improving demand and an element of safe-haven support, it continued to rise despite a strengthening US dollar towards the end of the month #commodities #zinc #platinum #lead #cokingcoal #coal
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2024 Outlook: Global Commodities - Materials prices appear to be on the wrong side of a typical commodity and global-interest-rate cycle to rebound in 2024. Stabilization in deteriorating energy, base-metal and grain prices may require the US stock market to remain resilient while facing a recession, which portends deflationary-domino risks if equities fall. Gold outperforming most commodities and the S&P 500 on a year-over-year basis to Nov. 29 may show inklings toward our base case: A great reset worthy of the biggest liquidity-pump-then-dump in history. The lessons of four decade highs in inflation could be enduring and curtail Federal Reserve easing. Gold is on track to shift $2,000 an ounce resistance into support, copper may head toward $3 a pound and WTI crude oil approach $40 a barrel, if Bloomberg Economics' US recession outlook plays out. The full report is on the Bloomberg terminal here: https://lnkd.in/ej7W2St2 {BI COMD} Bloomberg Intelligence #commodities #gold #crudeoil #macroeconomic
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