The commodity market has been pretty volatile, which is a rare thing to see as the commodities are mostly stable no matter what, but this year the futures have hit new lows and new highs as the international markets are a mess and they are not getting better anytime soon.
The major commodities to look out for in the coming week are Gold, Crude Oil, metals such as copper, nickel, aluminum, and more. Gold has gained as the federal reserve has cut the rates for the third consecutive time in the same year to keep consumer spending alive. The rate hike is no8t expected anytime soon as the economy has been seeing the concerns are rising for the Inflation and recession, although a substantial sudden change in Inflation could result in rate hikes that are not expected anytime soon. Base metals are also taking a hit as the demand is decreasing as the Chinese manufacturing sector is slowing down and has been the major consumer of the metals. The China and United States trade war has slowed down the commodity futures even more. The surge in U.S. inventories of the Crude Oil reserves surprised investors and caused the crude oil prices to be weakened.
The commodity market is expected to stabilize soon, but only if the United States and China trade war slows down and promotes the commodities. But for now, the futures of base metals are the ones who should be sold off, and the gold futures are the ones who should be purchased and held.
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