Skip to main content

Recovery to continue, but a bull run is unlikely

Commodity prices will continue to benefit from the stimulus-fuelled recovery in China’s economy over the next year. At the same time, a gradual revival in growth in advanced economies should give a lift to the price of oil, which has underperformed for much of this year. And we expect the price of gold to remain elevated as US real yields edge a little lower. By contrast, we think the recent price rally in agriculturals may lose steam in 2021 if, as seems likely, supply improves.

Become a client to read more

This is premium content that requires an active Capital Economics subscription to view.

Already have an account?

You may already have access to this premium content as part of a paid subscription.

Sign in to read the content in full or get details of how you can access it

Register for free

Sign up for a free account to:

  • Unlock additional content
  • Register for Capital Economics events
  • Receive email updates and economist-curated newsletters
  • Request a free trial of our services


Get access