Analysis: Commodities

"Gold has lost its luster": why the yellow metal is losing ground (DNCA Investments)

Gold has lost its luster this year, landing at the bottom of the major asset class performance rankings at around $4,000 an ounce, observes Pierre Pincemaille, secretary-general of asset management at...

Democrats rekindle gold rally, to back above $4,000

The outcome of the US midterm elections has benefited gold, which is up over 2% at $4,027 an ounce.

Global gas market: Between the Strait of Hormuz crisis and Europe's lowest reserves

A new report from the IEA , the Global Gas Security Review 2026, published Tuesday morning, reveals that rising LNG supply, particularly from North America, along with more flexible commercial...

Global Energy in 2025: Renewable Growth Held Back by the Weight of Fossil Fuels (Eni Report)

Italian oil and gas group Eni has published the 25th edition of its annual report, the World Energy Review . Originally conceived as an analytical tool focused on oil and gas markets, the publication...

Oil retreats on yet another Middle East rumor

Oil has lost part of its October gains under the dual pressure of diplomatic progress surrounding the Iranian-US conflict and an unsurprising OPEC+ decision on its production policy.

Why gold is not rising despite inflation

Since the beginning of the year, gold prices have fallen sharply, despite rising inflationary and geopolitical tensions, a reaction that may appear paradoxical for an asset traditionally viewed as a...

Gas: Europe breaches the EUR100 mark; are we heading for an exorbitant winter?

European gas touched EUR100 per megawatt-hour on Wednesday, October 28, and the rise could continue. AlphaValue sees a peak of EUR110-120 against a backdrop of tensions in the Middle East and forecast...

A Rough Week for Platinum and Palladium

Platinum group industrial metals have undergone a severe correction in recent days. Gold has absorbed the shock better, but remains caught between rate expectations and inflationary jitters linked to...

Energy market: amid soaring freight costs, fragmentation and an electric shift (DNCA Finance)

As is often the case, we navigate by the light of the stars under a cloudy sky. The quote comes from Jerome Powell, former Fed chairman , but it could also apply to the dangerous work of crews...

VanEck analysis: a more mature gold sector focused on profitability and execution

September was a difficult month for gold. After a strong rally in August, the metal traded as high as $4,473 at the beginning of September. On September 16, the Federal Reserve raised the federal...

J. Safra Sarasin: "In a crisis, energy is always paid for in dollars"

In an interview with MarketScreener, Benoît Harger, commodities portfolio manager at J. Safra Sarasin, shared his analysis of the impact of current geopolitical tensions on global supplies of oil,...

Energy, the New Engine of European Competitiveness, According to EdRAM

Energy is simultaneously a matter of sovereignty, purchasing power and industrial competitiveness. This issue, already prominent during the war in Ukraine, has become central since the war in Iran.

Brent Returns to $110

Crude oil has emerged as a dominant narrative in recent days, driven by tensions in the Middle East. The US easing of restrictions on Russian energy has complicated the equation, but has not changed...

Agricultural Commodities: The Lasting Impact of the Gulf Crisis and Input Costs in 2026

The conflict in the Gulf, now in its seventh month, is intensifying rather than stabilizing. The April cease-fire, like the memorandum of understanding signed in June, was ultimately abandoned after...

Oil: Growth in Demand to Slow in 2026, with Renewed Acceleration Expected in 2027 (OPEC)

In its October report, OPEC now expects global oil consumption growth to slow in 2026. It is expected to increase by 200,000 barrels per day year over year, versus the previously expected 400,000...

Europe Pays a Hefty Price for Its Lowest-Ever Gas Inventories

The European gas market is enduring a highly volatile week, driven by historically low inventories and increased competition for global LNG cargoes. The rest of the commodities complex has effectively...

All precious metals are in negative territory in 2026

The decline in precious metals since the beginning of September has pushed them all below their January 1 levels. The S&P GSCI Precious Metals Index is down 5.7% in 2026, after gaining 70.6% last...

DNCA Investments: "Copper is at the heart of trade and technology wars"

Government bond yields are not the only ones reaching new highs. Copper, the red metal, recently surpassed its January highs, rising above $14,000 a ton. Copper, which Anglo-Saxon investors call...

Gold corrects, should investors prefer miners to the metal?

After nearly touching $5,600 an ounce in January, gold was trading at around $4,140 in early October, meaning that a quarter of its value has evaporated. Central banks, meanwhile, have never bought so...