Friday, June 30, 2017

Commodities Take a Beating

After posting a gain last year for the first time in six years, the Bloomberg Commodity Index, which tracks 22 commodity futures contracts, is down roughly 7.7 percent year-to-date. It finished out 2016 more than 11 percent higher.

Many commodities have continued on the downward paths they were on by the end of the first quarter. Sugar is down about 36 percent for the year as of the middle of this week, iron ore down 18 percent, and oil down about 16 percent.

The big winner for the year? Gold has been a strong performer, up about 8.5 percent, but that's no match for the metal palladium, which is up 28 percent on the year.

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