top of page
QU Economics Research Team

Primary Commodities Report for August 5th – 9th

 

Commodities Index


Source: Yahoo Finance and own calculations. Rates are in United States dollars per one (1) unit of goods. Brent Crude Oil and Natural Gas are measured in barrels, Gold is per ounce, and the ETF is per share. They are all indexed to be at 100 at the start of the period.


During the week of August 5th to August 9th, three commodities saw price increases while only one experienced a decline. Natural Gas (green) led the surge, rising by 8.9%. Brent Oil (black) followed with a steady increase, closing the week up 3.7%. Despite spending most of the week in negative territory, Gold (yellow) managed a slight uptick on Friday, finishing 0.26% higher. Nickel (red) was the only commodity to decline, falling by 1.0%. This upward movement for three commodities contrasts with the broader downward trend observed throughout July.

 

Commodities Historical Trends


Source: Yahoo Finance and own calculations. Rates are in United States dollars per one (1) unit of goods. Brent Crude Oil and Natural Gas are measured in barrels, Gold is per ounce, and the ETF is per share. The center line is a rolling three-month average. The upper and lower boundaries are the average plus and average minus one standard deviation, respectively, for the same three-month period.


Natural Gas, Brent Oil, and Gold all saw price increases during the first full week of August. Brent Oil appears to be rebounding, trending back towards its three-month rolling average. Gold continues its steady rise, now slightly above the upper boundary of its three-month rolling average. Although Natural Gas remains well below its three-month rolling average, signs suggest a potential rebound could be on the horizon (see additional reading below). Meanwhile, Nickel prices have continued their downward trajectory, extending a decline that began in mid-May.

 

Further Reading:


Comments


bottom of page