Traders pile into commodity markets as returns rival 2022 boom

By Alex Gluyas – Financial Review

The prospect of all-out war in the Middle East has turbocharged a rally across commodity markets this year, with traders enjoying the best returns since Russia’s invasion of Ukraine in 2022.

While a surge in gold and other precious metal prices kick-started a revival in commodity markets earlier this year, it’s been propelled by a sharp spike in energy and grain prices following Israel’s attack on Iran, and America’s subsequent involvement in the conflict over the weekend.