Q2 Outlook: Commodities power ahead
Head of Commodity Strategy
Summary: Commodities have cast off the caution that defined the start of this year and powered to strong collective gains, led by energy and industrial metals. As we enter the second quarter the mood is still good, with crude oil riding atop a wave of price-supportive supply news, gold encouraged by a dovish Fed and copper pinning its hopes on a US-China trade détente.
Markets, including commodities, began the year on the defensive with growth concerns and US Federal Reserve-led liquidity tightening raising concerns about the prospects for 2019.