Gold on track to reach new highs
Gold is the only major commodity to post year-to-date gains in the first half of 2020. The COVID-19 crisis has ripped apart the playbook for 2020. The International Monetary Fund,…
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OPEC+ overcomes Mexican standoff again and extends cuts
OPEC+ (-Mexico) has agreed to extend more aggressive oil production cuts into July. In an earlier than originally scheduled meeting over the weekend (6-7th June 2020), most…
Short term recovery due for platinum and palladium
The green industrialised precious metals – platinum and palladium have started 2020 on a weak footing owing to the spread of the COVID–19 pandemic globally. The price decline…
Brent and WTI – A tale of two benchmarks
Brent and West Texas Intermediate (WTI) are two globally recognised oil benchmarks. When market participants refer to the price of oil, they typically refer to one or the other or…
Prospect of a surplus to weigh on coffee prices ahead
”Since the start of 2020, the trajectory of coffee prices has been volatile due to a chain of key market incidents. Increasing global inventories and higher production in…
Nymex WTI front month futures trade negative
The active Nymex West Texas Intermediate (WTI) oil contract (May) that will expire today briefly traded close to -$40/bbl yesterday and is currently at US$1.42/bbl[1]. Later today…
OPEC+ reaches historic deal, but is it enough?
Following an impasse that lasted from 6th March until Easter weekend, OPEC+ are finally ready to start cutting oil production again. The pain from falling demand and rising…
An age of unprecedented oil volatility
We are living in a time of unprecedented volatility in oil. That is the consequence of a twin shock: both demand is collapsing and supply is rising. Oil prices are now more…
The thematic case for nickel
Nickel has exciting long-term prospects as its use in electric vehicle batteries is expected to drive its demand growth in the future. This structural trend has however not…
Defensive Assets: Gold, a precious ally in the fight against equity drawdown
In the previous instalments of this blog series, we highlighted the defensive behaviour of quality and high dividend equities, long duration government bonds and safe haven…