2024 is considered the year of the commodity markets, as the MCX index has skyrocketed 50% year-to-date. It has also outperformed the US stock market by a wide margin, as the Dow Jones Industrial Index is up nearly 8.5% YTD.
The Nasdaq Composite is up 21%, while the S&P 500 index surged by nearly 19%. The commodity market outpaced all three indexes this year, delivering stellar profits to investors.
Also Read: Silver Outperforms Gold in the Commodity Markets in 2024
The vast commodity markets include natural metals, currencies, oil, gas, and food products.
Many options allow investors to make quick profits if their selection is correct. Commodities outperformed the stock market this year, delivering double-digit earnings to investors.
Also Read: ASEAN: Malaysia Advances De-Dollarization Agenda
Commodities: Top 5 Biggest Gainers In 2024
The top 5 commodities that skyrocketed in the charts in 2024 have generated more than 25% in profits. Below is the list of the top gainers in 2024 YTD.
- Cocoa +66%
- Eggs +62.87%
- Orange Juice +41.85%
- Rubber +29.96%
- Coffee +25%
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Soft commodities ruled the market this year, while metals have fallen below them in terms of returns. Precious metals like gold and silver have surged 21% and 24.6% YTD, respectively.
Find out how high gold could reach by the end of 2024.
However, on the downside, the commodity markets are the first to collapse during global turmoil and weak financial prospects.
It is best to make hay when the sun is shining and not enter when it has run its course.
“Thus far, commodity markets have been sentiment-driven and fickle. (They’re) in continuous search of the smallest inkling of hope to rise to new highs, only to collapse back down with the slightest hint of possible disappointment,” said Sabrin Chowdhury, Director & Head of Commodities Analysis at BMI.
