Commodities Weekly Normal gold service resumes; OPEC+’s conundrum While the stonking rally in gold prices earlier this year was at odds with traditional market drivers, the latest leg up in gold prices – which saw the nominal price reach yet another fresh record... 30th August 2024 · 4 mins read
Commodities Focus China’s gold rush has much further to run Against the backdrop of central bank buying, strong physical gold demand, and a surge in ETF holdings, China appears to have been a key driver of the rally in gold prices earlier this year. Looking... 29th August 2024 · 16 mins read
Commodities Weekly Lack of ceasefire deal poses risks; gold at record The apparent stall in the ceasefire talks between Israel and Hamas limited the fall in oil prices this week. While we think a deal wouldn’t be a game-changer for oil prices, a further breakdown in... 23rd August 2024 · 4 mins read
Commodities Weekly EU natural gas prices chart their own course It was no surprise to see the global commodity price index fall and rise alongside the contortions in equity markets this week. But commodity prices have not all been in the same boat; whereas some... 9th August 2024 · 4 mins read
Commodities Chart Pack Commodities Chart Pack (Aug. 2024) Commodities have not been immune to the recent turmoil in financial markets, with the prices of most industrial metals, agricultural, and energy commodities extending their downward trends over the... 7th August 2024 · 1 min read
Commodities Weekly Oil prices rise on Middle East conflict, cut down by US The oil market's fairly muted reaction to events in the Middle East this week only temporarily reversed the recent downward trend in oil prices. On the face of it, however, the risk of a spike in oil... 2nd August 2024 · 4 mins read
Commodities Update Olympic medals to lose their shine before long The start of the Paris Olympic Games today suggests that there will be renewed interest in gold, silver and bronze. We suspect that athletes will be disappointed by the fact that the Olympic medals... 25th July 2024 · 3 mins read
Commodities Update Gold jewellery to lose its lustre under high prices Gold jewellery demand has been highly sensitive to price changes in the past and so will come under pressure from the current backdrop of record high gold prices. Income growth in key markets will... 17th July 2024 · 3 mins read
Commodities Weekly Traditional gold price drivers come back into focus The ~18% rise in gold prices seen this year has largely defied the traditional logic of demand drivers. Indeed, the surge in gold prices between February and April took place against a backdrop of a... 12th July 2024 · 4 mins read
Commodities Chart Pack Commodities Chart Pack (July 2024) China overcapacity fears coming to industrial metals China’s dominant role in the world of commodities is evolving subtly. This is particularly the case for gold, where increased demand by the PBoC... 3rd July 2024 · 1 min read
Commodities Outlook Commodity prices to fall back We forecast most commodities prices to fall next year – despite falling interest rates and faster global GDP growth – as numerous supply constraints ease and a crunch in Chinese construction begins to... 27th June 2024 · 21 mins read
Commodities Chart Pack Commodities Overview Chart Pack (June 2024) Our Commodities Overview Chart Pack has been updated with the latest data and our analysis of recent developments. OPEC+’s decision to roll over its production cuts into Q3 will keep supply... 6th June 2024 · 1 min read
Metals Chart Pack Metals Chart Pack (June 2024) Our Metals Chart Pack has been updated with the latest data and our analysis of recent developments. The rally in industrial metals prices over the last few months has begun to unwind and, because it... 4th June 2024 · 1 min read
Commodities Update Your latest commodities questions answered We held an online Drop-In session last week to discuss geopolitical risk and the commodities price outlook. This Update answers several of the questions that we received. 10th May 2024 · 7 mins read
Commodities Chart Pack Commodities Overview Chart Pack (May 2024) We think that oil prices have further to fall, as we expect OPEC+ to gradually increase output later this year. Prices have recently fallen as worries that the conflict in the Middle East could affect... 8th May 2024 · 1 min read
Metals Chart Pack Metals Chart Pack (May 2024) Our Metals Chart Pack has been updated with the latest data and our analysis of recent developments. The strong rally in industrial metals prices seems stretched and, as a result, we expect prices to... 7th May 2024 · 1 min read
