commodity
American stocks have done well this year, with the S&P 500 and Nasdaq 100 indices soaring by over 15% and sitting at their all-time highs. This growth has been driven by the strong corporate earnings, anticipation of Fed rate cuts, and artificial intelligence, which has pushed companies like Nvidia to record highs. ClearBridge Energy Midstream Opportunity Fund is doing wellStill, a small fund most people have never heard of is outperforming the mainstream S&P 500, Dow Jones, and Nasdaq 100 indices. The ClearBridge Energy Midstream Opportunity Fund (EMO) has been a top-performer this year. Its ...
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The price of palladium experienced a significant drop on Tuesday, falling 5.53% to $925.78 per ounce. This decline came after the metal reached almost a month-high on Monday, only to surrender those gains as demand appeared to stall and the dollar strengthened. Broad impact on precious metals market The downturn in palladium prices was part of a broader decline in the precious metals market. Gold also saw a decrease, falling 0.37% to $2,325.62 per ounce, while silver dropped 1.36% to $29.18 per ounce. Platinum lost 0.89%, selling for $989.33 per ounce at the same time. This broader decline in ...
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ICE cotton futures experienced a slight decline on Thursday, driven by a stronger dollar index and a cautious market approach. The market’s limited movement comes as traders anticipate the USDA’s cotton export sales report, which is expected to provide valuable insights into current demand dynamics. Cotton prices dip slightlyAccording to trade analysts, the ICE cotton December contract settled at 72.62 cents per pound (0.453 kg), marking a decrease of 14 points. Similarly, the March contract dropped by 9 points, closing at 73.96 cents per pound. Selling pressure was noted above the 73-cent lev...
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North Korea and Russia have announced a new agreement promising mutual assistance if either nation comes under attack. This pact was revealed during a summit in Pyongyang on Wednesday, North Korea, marking Russian President Vladimir Putin’s rare diplomatic visit to the reclusive nation. Putin met with North Korean leader Kim Jong Un, in what is their first official agreement since the Cold War era. What the Russia-North Korea pact says?The pact states: If either side faces an armed invasion and is in a state of war, the other side will immediately use all available means to provide military an...
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Gold price has retreated recently as the focus shifts to the upcoming Federal Reserve decision and US consumer price index (CPI) data. After peaking at a record high of $2,450 in May, it has now dropped by over 5.57% to $2,315. Bullish catalysts for goldThe price of gold has done well in the past few months. It has jumped from a low of $1,615 in 2022 to the current $2,315. It has retreated recently as demand from Chinese retail investors faded and as traders focused on the next actions by the Federal Reserve. The Fed is expected to leave interest rates unchanged between 5.25% and 5.50%. I expe...
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The Brent crude oil price drifted upwards on Monday as investors focused on the upcoming driving season in the United States. It rose for two straight days, moving to the key resistance point at $82.50, higher than last week’s low of $80.60. Driving season aheadThe next crucial catalyst for crude oil price is the US driving season, which starts after the Memorial Holiday weekend. This season is characterised by more driving in the United States and higher demand for gasoline. In some cases, oil prices tend to rise during the driving season, which explains why Joe Biden’s administration has ann...
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Often considered the ‘poor relation’ of gold as a safe haven stock, the silver spot price (XAGUSD) has shone of its own accord recently. The XAGUSD spot price is up almost 4% today so far, at around 3.8%, to over $30.80 per troy ounce. In fact, silver’s price is up by more than 31% this year to date and over 16% in the past month. This is even more of a rally than the gold spot price (XAUUSD), which has so far increased somewhere in the region of 13.5% this year to date, and less than 1% in the past month, at the time of this article’s writing. The silver bulletSilver hit a multi-year high on ...
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Copper price is having a remarkable year as it soared to a record high this month amid demand and supply dynamics. The price soared to over $10,000 for the first time on record, joining other metals like gold, silver, platinum, and nickel in a strong rally. Copper’s demand and supply imbalanceThe main driver for copper is that demand is growing at a slower pace than supply, which explains why BHP has made a bid for Anglo American. In a recent note, the International Copper Study Group slashed its copper supply for the year. It estimates that the industry will have an oversupply of about 162k t...
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Demand for copper in a diverse set of industries has been on the rise this year as the global economy continues to thrive. In fact, price of the industrial metal hit an all-time high on Tuesday. Here are the top three stocks that could benefit the most from record copper price. BHP Group Ltd (NYSE: BHP)BHP is fine pick to play continued demand and subsequently elevated price of copper as it operates one mine in Australia and several more in South America. The New York listed firm is worth owning also because it has a 45% stake in Resolution Copper – one of the largest undeveloped copper projec...
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Platinum price has been in a strong uptrend this year, joining other industrial metals like copper and zinc. It has also joined other precious metals like silver and gold, which have been in a strong bull run. It soared to a high of $1,095 on Monday, its highest level since March 11th. Platinum has also outperformed palladium, which has risen by just 20% from its lowest point in 2023. Demand and supply mismatchPlatinum has done well this year, helped by strong demand and slow supply growth. A recent report by the World Platinum Council showed that automotive demand for platinum surged to its h...
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