Significant volatility last week in the commodities markets

Platinum increases 2.9%, copper 0.9%, and silver 0.4% while Brent oil loses 4.2%, gold 0.6%, and palladium 0.3%.

A week marked by sharp swings driven by a lack of direction was left behind by the commodities market.

Last week’s key players in the commodities market were rising predictions that the US Federal Reserve has completed its cycle of rate hikes, persistent worries about the state of the world economy, production forecasts, and weather-related issues.

Market risk appetite increased as the Fed’s interest rate decision and Chairman Jerome Powell’s remarks were in line with expectations.

As anticipated by the market, the Federal Reserve last week maintained its target range for the federal funds rate, which is between 5.25% and 5.5%.

Precious metals saw a varied path last week.

While silver and platinum grew by 0.4% and 2.9%, respectively, gold and palladium fell by 0.6% and 0.3%.

Natural gas prices on the New York Mercantile Exchange finished the week up 11.1% while Brent oil fell 4.2%.

Prices increased by 0.9% for copper, 0.1% for lead, 1.5% for aluminum, 2.5% for zinc, and 1.5% for nickel last week.