Precious metals ignored the debt and currency markets, posting across-the-board gains. Gold reached a new record high, and palladium led the way on the upside with a more than 11% gain. While gold, silver, platinum, and palladium posted gains, copper prices moved lower.
Grain markets continued to decline, while soft commodities were mostly lower, correcting from the bullish price action over the first nine months of 2024 and throughout 2023. Meats moved mostly higher, led by lean hog futures, despite the offseason for demand. Energy commodities were mixed, with gains in crude oil and oil products and losses in natural gas.
