UBS has indicated that there is room for gold, oil, and copper to rise, suggesting that the commodity rally remains alive. This follows record highs in gold and copper on May 17, 2024, with levels first traded in 2007 and 1996, respectively. The performance tilt appears to favor metals due to low supply elasticity and storage costs, according to MarketWatch.
Room for gold, oil and copper to rise, keeping commodity rally alive, UBS says https://t.co/UBqERag3BI
Room for gold, oil and copper to rise, keeping commodity rally alive, UBS says. - MarketWatch
Room for gold, oil and copper to rise, keeping commodity rally alive, UBS says. Story by @Isabelxwang https://t.co/zDXDpYQqIl
Gold, copper, metals, commodities - where are they heading? @BBGIntelligence #Commodities #metals #gold #copper #macroeconomics https://t.co/goWKNqfcbg
2024 May Be About Gold vs. Everything Else - Record 2024 highs in #gold and #copper vs. #crudeoil and #corn on May 17, at levels first traded in 2007 and 1996, may show the #commodities performance tilt favoring #metals. Low supply elasticity, storage costs and trends in… https://t.co/TVSCfoXVJf