Strong Developments in Commodity Markets
The commodity markets are currently showing a strong performance, particularly in metals and energies, which is of great interest to investors. The Dynamic Commodity Index (DCX), which reflects the best of metals, energy, and agricultural commodities, is benefiting from this development.
Robust US Labor Market Development
In June, 147,000 new jobs were created, exceeding expectations, indicating a stable labor market. This led to a changed interest rate outlook with only a 4.7% probability of a rate cut in July.
US Tariff Policy as a Influencing Factor
As of July 9, the tariff pause for many trading partners except China ended; possible higher tariffs could spark volatility, yet the market remains strong.
Energy Market: Upswing in Oil Prices
Oil prices have recently increased significantly, with a rise of 2.81% in WTI crude oil. Despite uncertainties due to US tariff policy, Saudi Arabian oil exports to China reached a multi-year high in August – a sign of increased demand and supply dynamics.
Metals: Precious and Industrial Metals on the Rise
Alongside classical precious metals like gold, which increased by 0.93%, there are also positive impulses in industrial metals and raw materials like uranium or silver, which are considered attractive in the long run. Uranium is deemed indispensable due to its significance for nuclear power plants.
This combination of stable economic development in the US, geopolitical factors, and supply-demand dynamics in energy and metals is currently creating a strong week in the commodity sector overall.
Investment Opportunities
For investors, this means opportunities in a diversified commodity portfolio focusing on energy (oil/gas) as well as industrial and precious metals – both in the short term through market movements and in the long term due to fundamental trends such as energy transition and supply security.