Commodities market: A mixed picture – Commerzbank

Eugen Weinberg, Research Analyst at Commerzbank, notes that the commodity prices are moving in different directions and while gold and platinum prices are climbing, oil prices have been falling for weeks.

Key Quotes

“The latter have been knocked recently by higher oil stocks and production in the USA, which also harbour more potential for disappointment. Gold is probably being driven by the bond market at present, while platinum metals are gaining support from gold on the one hand and good car sales figures on the other. Base metals, however, are being affected by the economic developments in China.”