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  • QU Economics Research Team

Primary Commodities Report for July 1 – 5

 

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.


From July 1st to July 5th, Natural Gas was the only reported commodity to experience a price decrease. This decrease was significant, as Natural Gas (green) fell by 10.8% to start July. In contrast, Brent Oil (black) had a stable week, seeing only a slight increase of 0.2%. Nickel (red) also experienced a modest price increase, with prices gaining 2.2% by the week’s conclusion. Gold (yellow) recorded the largest price increase to start the month, surging by 2.6% by the end of the week.

 

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.


With the first week of July behind us, several noteworthy commodity trends have emerged. Brent Oil prices appear to be stabilizing after a steady rise throughout June. Gold prices have reached a six-week high, continuing their upward trajectory into early July. Meanwhile, Natural Gas prices plummeted dramatically this week, extending a downward trend that began in mid-June after reaching a three-month high. Nickel prices remain well below their three-month rolling average, despite a slight uptick at the start of July. Whether this signals the beginning of a price rebound for Nickel remains to be seen and will be a key trend to monitor.

 

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