Bloomberg Commodity Spot Index jumps to levels not seen since 2012

Amid depreciating US currency and expectations of renewed energy demand on the improved economic outlook, commodities prices continue to surge, as indicated by the Bloomberg Commodity Spot Index.
Key takeaways
“The Bloomberg Commodity Spot Index, which tracks price movements for 23 raw materials, rose 0.7% Monday. The index is at levels not seen since 2012.”
“Prices for everything from copper to oil to timber have sky-rocketed as the world’s largest economies recovers from the pandemic, with growing signs of shortages across markets.”
“Hedge funds have increased bullish bets in commodity futures for three consecutive weeks, according to data compiled by Bloomberg.”
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Author

Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

















