9 January 2024
The year 2023 proved difficult for commodities, with most experiencing lackluster returns. However, gold emerged as a notable exception, reaching an all-time high of $2,135 an ounce. This surge in gold prices was largely driven by increasing investor interest in safe-haven assets, spurred by the growing likelihood of rate cuts in 2024 and a weakening dollar. Copper, on the other hand, showed marginal gains, its performance dampened by a declining property market in China. VisualCapitalist put together a great graphic, based on U.S. Global Investors interactive research, that shows commodity returns over the last decade.