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26 May 2024
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3 Top Performing Commodities That Delivered Double-Digit Profits

The commodity market is dominating the financial sector in 2024 delivering stellar profits to investors. Among the handful of assets available in the market, three commodities generated double-digit gains for holders this year.

Also Read: Commodity Market: Crude Oil Forecasted To Fall 10%

In just four months, they’ve performed above expectations giving returns of more than 10% between January to April. In this article, we will highlight the top three performing commodities that delivered double-digit returns in 2024.

Top 3 Performing Commodities That Generated Double Digit Returns in 2024

us stock market
Source: Reuters

The commodity market has several assets including metals, currencies, energy, and grains, among others. Out of all these, the metals market gained the most this month as both retail and institutional investors flocked toward it for profits. The top 3 performing commodities of April 2024 are:

1. Silver +13.94%

2. Copper +13.2%

3. Gold + 12.22%

Also Read: US Stock Delivers 530% Profits in 4 Years: Do You Own It?

Silver outperformed copper and gold by a small margin making it take the top spot in the commodity market. Copper performed better than gold and is ahead of the precious metal by a bit. Gold is the third most-performing asset in the commodities market and steadily climbed up in the charts this year.

The global stock market has delivered less than half of what the commodity markets achieved this year in 2024.

  1. The Dow Jones Industrial Average is up by only 1.39%

2. India’s Sensex spiked 2% 

3. Hong Kong’s Hang Seng rose only 0.24%

4. Japan’s Nikkei surged just 0.30%

Also Read: Billionaire Warns US Economy Headed for a Financial Crisis

The development indicates that the money is in the commodity market and not the stock market in 2024. Even the US dollar surged by more than 5% between January to April this year.

The US dollar spiked in price despite receiving threats from local currencies to uproot it from the world’s reserve currency. The Pound Sterling, Chinese Yuan, Japanese Yen, and Indian Rupee fell to new lows against the US dollar in the currency market.

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