Volatility in commodity prices likely to rise in run-up to US election

WHILE commodity prices have seen some volatility this year, analysts are expecting that to increase closer to the US elections in November 2024.

Gold and oil are tipped by analysts as a hedge against uncertainty, as former US president Donald Trump could make a return to the White House.

Gold has outpaced most major asset classes in 2024, being a beneficiary of continued central bank buying, recording all-time highs in May of around US$2,449.89 per ounce. Returns on gold were around 12.7 per cent as at Jun 28 this year, said the World Gold Council, outperforming that of emerging market stocks, or other commodities such as cocoa, coffee and copper.