Commodities continued their overall negative performance during June with the Dow Jones-UBS commodity index seeing the lowest monthly closing price since July 2010. The four percent loss during the month was driven by negative price action across all the major sectors. The metal sector, both precious and industrial, contributed most of the negative return as the Federal Reserve's tapering comments and worries about China became the main focus. The energy sector was mixed with the difference in performance between the DJ-UBS and SP GSCI index being down to a difference in exposure to natural gas which suffered a 10.3 percent correction.
The individual performances reflect the sector performances above with both silver (minus 12.2 percent) and gold (minus 10.7 percent) figuring among the worst performing commodities during June. Orange juice fell heavily on news that consumption in the important US market was falling at a time of ample levels of supply in storage. At the top, we find both crude oils which despite a mid-month wobble performed well as attention turned to an expected Q3 pick-up in demand combined with geopolitical worries related to the Middle East.
Not surprisingly, our momentum monitor is negative almost across the board with live cattle and and sugar the only exceptions. Signs of slowing negative momentum is currently being seen in WTI crude which once again is approaching the psychological resistance level of USD 100 per barrel. Copper has also shrugged off the recent price-negative news related to China and the move away from key support at 298 cents/lb has raised the potential for negative momentum beginning to turn or at least slowing.
- English (UK)
- English (India)
- English (Canada)
- English (Australia)
- English (South Africa)
- English (Philippines)
- English (Nigeria)
- Deutsch
- Español (España)
- Español (México)
- Français
- Italiano
- Nederlands
- Polski
- Português (Portugal)
- Português (Brasil)
- Русский
- Türkçe
- العربية
- Ελληνικά
- Svenska
- Suomi
- עברית
- 日本語
- 한국어
- 简体中文
- 繁體中文
- Bahasa Indonesia
- Bahasa Melayu
- ไทย
- Tiếng Việt
- हिंदी
Commodities Engulfed By Negative Momentum As July Begins
Published 07/02/2013, 03:56 AM
Updated 03/19/2019, 04:00 AM
Commodities Engulfed By Negative Momentum As July Begins
Latest comments
Loading next article…
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.