Gold & Other Commodities

On balance, there aren't a lot of inflationary pressures in the commodity markets. Precious metals are on top of the leaderboard so far this year among the major commodity price gains (chart). Platinum, gold, and silver are ranked #1, #2, and #3. These shiny metals have become safe havens for many investors as a result of unsettling geopolitical crises in the Middle East and Eastern Europe. Global trade tensions have also heightened demand for these metals.

US tariffs on steel have boosted the price of this commodity. Lithium is also up ytd, by a percentage in the double digits, on supply concerns. The price of copper has been volatile this year. It is currently up 11.0% ytd. Iron ore is also up, but not by much, due to sluggish growth in China. That could change once the Chinese start building a $167 billion Tibetan mega dam, the largest one on Earth.