Metals form an important part of global commodities. Precious metals serve beyond their traditional usage and as a store of value or as a hedge against inflation. Industrial metals like Zinc are important gauges to determine the global economic activities.
In this FxWirePro commodities watch, we are to present our readers the performance of the various commodities, categorically classified, which are keys to understand the broader global economy. For example, copper is considered as a barometer of global economic activity or gold is considered as a safe haven.
After being the best performer last year after energy, this year is looking bright too. It remains a much better performer compared to the energy pack.
In this part, we present the metals, both precious and industrial.
- The best performer in the metal pack has been Palladium which rose 37.7 percent, followed by, Aluminium (22.5 percent), Nickel (20.1 percent), Copper (19.4 percent), zinc (19.2 percent), and Lead (18.6 percent).
- Gold is up 8.7 percent YTD, while the Silver is up 3 percent YTD.
- The worst performer is Iron ore, which is down 18.85 percent, followed by Tin (-7.9 percent), and Platinum (-4.5 percent).
In 2016, the metals as a pack were up more than 28 percent but this year they are up just 10.7 percent so far. This pack has moved up by 0.6 percent since our last review back in October.
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