- A weakening US Dollar driving the price of gold up.
- NGAS prices are in recovery mode.
- Cotton prices rise.
Gold gained on Tuesday after experiencing a consistent price fall during the trading week last week. The recovery in gold comes with the softening dollar. The weaker dollar makes gold more attractive to investors who are holding other currencies as it is considered a safe haven asset and a hedge against inflation.
Gold Jun ‘22 Futures Price Chart
NGAS Price back on the rise.
Natural Gas prices are back on the rise. Investors are going long on NGAS futures as more Russian Oil disappears from the market, causing concerns around supply to intensify. As China prepares to ease lockdown restrictions, it is likely the world will see even more of a supply shock as the demand will increase with the reopening of the Chinese markets.
NGAS Jun ‘22 Futures Price Chart
Cotton Prices rise along with concerns around supply.
Cotton prices have been rising during the trading week, this is because of a possible increase in demand as China prepares to ease lockdown restrictions running in conjunction with concerns around supply. The U.S are expecting lower than normal production this year due to the adverse weather conditions.
Cotton Jul ‘22 Futures Price Chart
Sources: tradingeconomics.com, finance.yahoo.com