Buoyed by gradual unwinding of lockdown restrictions and a steady revival in economic activity, commodity markets are on an upward trajectory. Is the ongoing price performance justified or is it a false dawn?
A marked rise in prices through June suggests that market participants are upbeat about their prospects, going forward. Crude oil, copper, aluminium, gold and silver — prices of all these have increased in the last four weeks as can be seen from the accompanying table:
Price Rise in Select Commodities*
Commodity June 26 May 26
Brent crude 41 36
Copper 5985 5327
Aluminium 1582 1495
Gold 1752 1711 ...
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