Commodities news covering oil, metals, agricultural products, commodity prices, and futures market developments.
This commentary argues that gold's near-term outlook is weak despite a strong long-term bull case. It contends that the 2025 rally was overextended, leading to a prolonged correction, and suggests gold may consolidate through 2026 before resuming its uptrend in 2027 or 2028.
Gold futures opened at $3,980.10 on Friday, down 0.3%, as rising Middle East tensions and higher oil prices fueled inflation concerns. The spot price fell 1.56% to $3,992.75 per ounce on July 17, 2026, a decline of $63.10 from the previous close.
This commentary argues that falling corn prices combined with rising land values create a divide between farmers who own their land and those who rent. It contends that land ownership determines wealth-building potential, with renters bearing risk while owners benefit from asset appreciation.
Silver July futures opened at $55.83 per ounce on Friday, down 0.6% from Thursday's close and hitting eight-month lows. Prices have fallen over 20% in the past month amid ongoing U.S.-Iran conflict and rising oil prices.
Silver fell $2.41 to $55.30 per ounce on Friday, extending losses. The metal is now 52.89% below its 52-week high of $117.39.
Crude oil futures edged lower on Thursday, with August WTI falling 30 cents to $79.30/bbl, as traders monitored ongoing risks in the Strait of Hormuz. September WTI and Brent crude also declined. The market remains in a state of uncertainty, with analysts warning that inventories cannot absorb prolonged disruptions.
Industrial metals prices declined on Friday as traders weighed the likelihood of higher interest rates, which would raise borrowing costs for manufacturers and reduce demand. A growing number of Fed officials are warning of potential rate hikes.
Gold futures opened at $4,068.90 per troy ounce on Thursday, up 0.4% from Wednesday's close, but later fell to $4,041.10. Prices remain above $4,000 as the U.S. strikes Iranian sites for a fifth day, with the Strait of Hormuz closed.
U.S. soybean export sales for the week ended July 9 totaled 1.96 million metric tons, on the high end of expectations, with China buying 1.19 million tons. China returned after sourcing from South America, pushing soybean futures above $12 per bushel.
This commentary analyzes the factors behind gold's sustained price rally, including central bank purchases, geopolitical uncertainty, and the emerging role of cryptocurrencies. It cites Deutsche Bank projections that gold could reach $8,000 per ounce by 2031, while examining shifts in buyer composition and market dynamics.