Precious Metals and the Wider Commodity Universe

What commodities can hedge against uncertainty?

New technologies, new wars, and the reshaping of economic ties between world powers are all key forces driving commodity markets. This selection of timely insights offers in-depth looks at precious metals markets and the broader commodity universe in light of these macroeconomic developments.

GOLD

Understanding Gold Prices (PIMCO)

Gold remains a key asset for many allocators. Understanding what drives the price changes of this precious metal can make the difference between profit and loss.

Gold Demand Trends Q1 2024 (World Gold Council)

For compliance reasons, this paper is only accessible in certain geographies

Technology demand for gold recovered 10% y/y as the AI boom boosted demand in the electronics sector. Meanwhile, central banks also continue to buy gold.

In Gold We Trust Report 2024 (Incrementum)

Over 400 pages of charts, data, and commentary on the forces driving gold markets in the near-term and over the long run.

SILVER & PLATINUM

Reasons to Own Silver (Sprott)

Silver is one of the world’s oldest forms of currency. Today, however, the precious metal is used for different purposes rather than monetary exchange.

World Silver Survey 2024 (The Silver Institute)

Last year's data shows that underpinning silver’s fundamentals is the robust demand from industrial applications. Will this remain the case in 2024?

The Economics of the Hydrogen Economy and Platinum Demand (WPIC)

The global energy transition will require a multi-technology approach to achieve decarbonization targets. Platinum is at the center of this approach.

NON-FERROUS METALS

Zambia: A Resource-Rich Copper Giant Awakens (MetLife IM)

Copper has long been the lifeblood of the Zambian economy. Its vast reserves translate into significant foreign exchange earnings through exports.

U.S. Consumption, Equity and Credit Divergence and Copper (LGIM)

For compliance reasons, this paper is NOT accessible in the United States and Canada

This timely podcast touches on recent developments, including the dynamics of the copper market.

Non-Ferrous Metals | Copper (Mizuho)

It is possible for Japanese copper refiners to create a competitive advantage for sustained future growth by demonstrating their strengths more clearly.

GLOBAL COMMODITY MARKETS

Commodity Insights May 2024 (S&P Global)

This edition of Commodity Insights aims to capture some of the key developments in the sustainability space and the conventional energy landscape.

Russian Economy on War Footing and Commodity Exports (CEPR)

Russia's invasion of Ukraine destabilized commodity markets. This has had negative consequences for the global economy, even for Russia's.

New Energy Outlook 2024 (BloombergNEF)

The window to reach net-zero emissions by 2050 is rapidly closing but there is still time for the world to get on track. Here is what commodity investors need to know.