Commodities Outlook Energy prices to cool, but metals to hold firm for now We expect most commodity prices to fall over the next couple of years as greater supply enters the market. Industrial metals are the exception, China’s policymakers have stepped up stimulus in recent... 4th April 2024 · 33 mins read
Commodities Weekly Strikes on Russia’s refineries raise oil price risks Further attacks by Ukraine on Russia’s oil refining sector were the major driver of crude prices this week with the price of Brent remaining firmly above $85 per barrel. Reports that the US had urged... 22nd March 2024 · 5 mins read
Commodities Chart Pack Commodities Overview Chart Pack (Mar. 2024) We expect oil prices to edge lower in the second half of 2024 as OPEC+ starts to unwind its production cuts. However, the Israel-Hamas war, and associated risks to supply, will act as a floor under... 12th March 2024 · 1 min read
Metals Chart Pack Metals Chart Pack (Mar. 2024) Our Metals Chart Pack has been updated with the latest data and our analysis of recent developments. Industrial metals demand will recover this year, boosted by rate cuts and a bit of a recovery in... 8th March 2024 · 1 min read
Precious Metals Update Gold prices will climb higher over the next few years We think that the gold price will rise in each of the next couple of years, driven by the Fed cutting rates a little quicker than is priced into markets, falling US Treasury yields and a softening US... 1st March 2024 · 2 mins read
Metals Chart Pack Metals Chart Pack (Feb. 2024) Our Metals Chart Pack has been updated with the latest data and our analysis of recent developments. Industrial metals demand will recover this year, boosted by rate cuts and stabilising economic... 2nd February 2024 · 1 min read
Industrial Metals Update Real metals prices are high and have further to rise Compared to their pre-pandemic averages, metals prices are high even after adjusting for inflation. We think that as green transition-related demand increases and monetary easing gets underway, real... 25th January 2024 · 4 mins read
Commodities Commodities Overview Chart Pack (Jan. 2024) Our Commodities Overview Chart Pack has been updated with the latest data and our analysis of recent developments. We think the big declines in energy prices are now behind us. Oil prices will remain... 5th January 2024 · 0 mins read
Metals Chart Pack Metals Chart Pack (Jan. 2024) Our Metals Chart Pack has been updated with the latest data and our analysis of recent developments. Interest rate cuts across advanced economies this year will give some boost to economic activity... 3rd January 2024 · 1 min read
Commodities Outlook Metals to benefit in 2024 from green transition We expect most commodity prices to rise in 2024 as major central banks loosen monetary policy and economic activity starts to pick up. Meanwhile, China’s policymakers have taken steps to support the... 15th December 2023 · 31 mins read
Capital Daily “Goldilocks” markets may eventually benefit gold too While the gold price has retreated over the past week or so, we think it is set for a renewed rally next year as the Fed cuts interest rates and long-term real yields fall back further. 11th December 2023 · 5 mins read
Commodities Weekly OPEC+’s last stand The voluntary production cuts announced by OPEC+ this week will support oil prices in the first quarter of next year but there is clearly dissent among the ranks. We think OPEC+’s next move will be to... 1st December 2023 · 4 mins read
Commodities Weekly Another sour week for oil, precious metals to shine Gold and silver prices soared this week on renewed optimism that the Fed had hiked to the peak of its monetary policy mountain. We expect prices to rise further when interest rates begin to be cut... 17th November 2023 · 5 mins read
Precious Metals Update Gold, geopolitics and the Fed We have raised our gold price forecast to reflect the current heightened geopolitical risk. We think the price will rise further next year as the limited fallout from the Israel-Hamas conflict won’t... 9th November 2023 · 3 mins read
Commodities Chart Pack Commodities Overview Chart Pack (Nov. 2023) Our Commodities Overview Chart Pack has been updated with the latest data and our analysis of recent developments. Energy and precious metal prices will remain volatile while there is a risk that the... 3rd November 2023 · 1 min read
Commodities Weekly “Wait-and-see” prevails in commodities markets It was a mixed week for prices, with energy, agricultural and precious metals outperforming industrial metals. There was a relatively muted reaction to the outbreak of the Israel-Hamas conflict... 13th October 2023 · 4 mins read
