Tag Archives: S&P GSCI Gold
Twenty-First Century Fox: DJCI Gold Tops Stocks and Bonds This Century
The equity markets roared to the finish line, easily passing commodities and bonds with a 26.3% return for the S&P 500® in 2023. Much of that rally could be attributed to declining consumer price indices and favorable Federal Reserve guidance, with increased confidence in a soft landing. Declining inflation can best be observed at the…
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Hedging Debt Ceiling Drama with the S&P GSCI SOFR and S&P GSCI Gold
The debt ceiling debate in Washington appears to be nearing an end. According to the U.S. Treasury, Congress has “always acted when called upon” and markets will look for them to do so for the 79th time this month. By index rule, all commodities in the S&P GSCI are traded in U.S. dollars, so the…
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The “Devil’s Metal” Vanishes, Precious Metals Shine and Energy Dims: Commodities Quarterly Wrap
“Jamie ran on down to the LME, but the devil caught him there, He took Mr. Dimon’s Nickel bags and vanished in the air, Set out running but I’ll take my time, A friend of the devil is a friend of mine” -adaptation of Grateful Dead’s “Friend of the Devil” Just one year after the…
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Commodities Could Not Escape the Sea of Red Seen Across Asset Classes in February
The S&P GSCI, the world’s leading commodities benchmark, could not escape the volatile markets experienced in February, as the index fell 3.83% for the month. Despite recent declines, inflation remained high, which kept the U.S. Fed steadfast in its rate-hiking campaign, and expectations for a possible easing by year-end 2023 were squashed in the latest…
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Commodities Flat in January After Second-Best Yearly Performance in Two Decades
The 24 individual commodities comprising the S&P GSCI finished the first month of 2023 with divergent performance. This echoed the uncertain path forward regarding inflation expectations. Half outperformed, with industrial metals leading the way, while the other half declined, with natural gas tanking, as European countries filled their tanks to their brims. Gold had one…
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Commodities Outperform for the Second Year in a Row
The market standard commodities benchmark, the S&P GSCI, performed admirably in 2022, rising 26%, outpacing other commodities indices and asset classes, as well as defying higher interest rates and growing fears of a prolonged global economic slowdown, while high inflation provided a solid backdrop for one of the most inflation-sensitive asset classes. Commodities has been…
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Commodities Challenged by Slowing Global Growth in November
Commodities, represented by the broad-based S&P GSCI, fell 1.7% in November on the back of weakness in the petroleum and grains complexes. Global commodities markets were particularly hit this month by worries over rare demonstrations in China against COVID-19 curbs, with oil and grains falling to multi-month lows and safe-haven gold rising. After 11 months,…
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Petroleum Helped the S&P GSCI Gain 6.7% in October
Commodities, represented by the broad-based S&P GSCI, rose 6.7% in October on the back of strength in the petroleum complex. During the month, the director of the International Energy Agency said the world is in the middle of “the first truly global energy crisis.” All petroleum constituents rose by double-digit percentage points. Livestock also rose,…
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commodities, electricity, energy, energy prices, fuels, grains, industrial metals, inflation, natural gas, oil, precious metals, S&P GSCI, S&P GSCI Agriculture, S&P GSCI Aluminum, S&P GSCI Heating Oil, S&P GSCI Lean Hogs, S&P GSCI Natural Gas, S&P GSCI Nickel, S&P GSCI Soybeans, S&P GSCI Wheat, SP GSCI Corn, supply chain
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- commodities, electricity, energy, energy prices, fuels, grains, industrial metals, inflation, natural gas, oil, precious metals, S&P GSCI, S&P GSCI Agriculture, S&P GSCI Aluminum, S&P GSCI Heating Oil, S&P GSCI Lean Hogs, S&P GSCI Natural Gas, S&P GSCI Nickel, S&P GSCI Soybeans, S&P GSCI Wheat, SP GSCI Corn, supply chain
Will Diwali Light Up Demand for Gold in the Fourth Quarter?
During the Diwali festival in India, retail gold demand tends to pick up, offering a floor to global gold prices or the potential impetus to push prices seasonally higher. Several years of lower-than-expected gold demand suggest that there is room for an uptick in demand in Q4 2022 for India’s second-largest import by value. India…
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U.S. Dollar Strength Catches Up with Commodities
U.S. dollar strength caught up with commodities in September, with the benchmark S&P GSCI falling 7.8%. Almost all physical commodities are priced in USD, and a stronger USD has historically correlated to weaker commodity demand and lower commodity prices. But the S&P GSCI is holding onto a 21.8% YTD gain despite the USD strength, energy…
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commodities, electricity, energy, energy prices, fuels, grains, industrial metals, inflation, natural gas, oil, precious metals, S&P GSCI, S&P GSCI Agriculture, S&P GSCI Cotton, S&P GSCI German Power, S&P GSCI Industrial Metals, S&P GSCI Natural Gas, S&P GSCI Petroleum, S&P GSCI Silver, supply chain
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- commodities, electricity, energy, energy prices, fuels, grains, industrial metals, inflation, natural gas, oil, precious metals, S&P GSCI, S&P GSCI Agriculture, S&P GSCI Cotton, S&P GSCI German Power, S&P GSCI Industrial Metals, S&P GSCI Natural Gas, S&P GSCI Petroleum, S&P GSCI Silver, supply chain