Corn, copper, lumber, wheat, coffee, cotton, lean hogs, soybeans, aluminum, and iron ore are all up double digits in 2021 amid rising inflation.
Copper prices rose to as high as $10,008 a ton on the London Metal Exchange Thursday before falling from 10-year highs.
Commodity prices are rising, and consumer-staple giants like Coca-Cola, Procter & Gamble, and General Mills are raising prices in response.
UBS Global Wealth Management strategists said silver and platinum will outperform gold in 2021 as the economy recovers and industrial demand picks up. A greater focus from policymakers on renewable energy and decarbonization in 2021 may also help silver. According to UBS, more than 50% of silver used in industrial […]
Gold prices have lost some ground in recent weeks, but the world’s largest wealth manager thinks it should still play a key role in investors’ portfolios. Charles Day, private wealth advisor at UBS Wealth Management told Business Insider: “In terms of being diversified with everything that has gone on, having […]
Gold rose Thursday, heading for its second daily gain in a row after plunging the most in seven years on Tuesday. Tuesday’s slump was set off by rising US bond yields. Both gold and silver have reversed course after a week of volatile trading and are trending higher again. Watch […]
Spot Gold briefly touched a record high of $US2,000 an ounce on Tuesday amid a rally for the commodity. Traders piled into the so-called safe-haven asset on hopes that another US stimulus bill is in the works. An additional bill could put further liquidity into markets and weigh on rates, […]
Swiss private bank Lombard Odier said it sold half its gold position despite its surge to record levels. The bank’s chief economist Samy Chaar said: “We see a bit of vulnerability at the current price levels.” He said the negative economic outlook in the US was not sustainable and real […]
Cobalt has become a hot story on global commodity markets. Prices for the metal, a key component of lithium-ion batteries, have been surging thanks to unprecedented demand from electrical car makers and concerns about future supply. Tesla and pretty much all the major car makers including General Motors, Volkswagen and […]
ANZ has swapped sides on Australian currency amid surging commodity prices and no longer thinks the Aussie will slump against its US counterpart. The bank has also shifted its trading advice and now thinks it’s better to buy the dips or fall in the currency rather than aggressively sell rallies […]
Iron ore prices near a multi-year high may revive the investment appetite of miners as current values prices far outstrip the cost of production for most companies, according to Westpac. This chart by Justin Smirk, senior economist at the bank, looks at the production costs: “This chart has a lot […]