Strong Developments in Commodity Markets
The commodity markets are currently showing a strong performance, especially in metals and energy, which is of great interest to investors. The Dynamic Commodity Index (DCX), which reflects the best in metals, energy, and agricultural commodities, benefits from this development.
Robust US Labor Market Development
In June, 147,000 new jobs were created, more than expected, indicating a stable labor market. This led to a changed interest rate expectation with only a 4.7% probability of a rate cut in July.
US Tariff Policy as a Determining Factor
As of July 9, the tariff pause for many trading partners except China ended; although potential higher tariffs could stir volatility, the market is currently showing strength.
Energy Market: Recovery in Oil Prices
Oil prices have recently risen significantly, with a 2.81% increase in WTI crude oil. Even though uncertainties exist due to US tariff policy, Saudi Arabian oil exports to China are reaching a multi-year high in August—a sign of increased demand and supply dynamics.
Metals: Precious and Industrial Metals on the Rise
In addition to classic precious metals like gold, which rose by 0.93%, there are also positive impulses in industrial metals and commodities like uranium or silver, which are considered attractive in the long term. Uranium is deemed essential due to its importance 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 contributing to 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 like energy transition and supply security.