Commodity News: A Look at How Commodities Fared in 2015
Commodity News
While gold fell dramatically in 2015 ( It fell over 11% in the year), it wasn’t the only commodity that took a hit. In fact all the precious metals declined even more than gold.
Out of all the precious metals iron ore fell the most in 2015 by falling 45.6%. Silver fell 12.20%. Copper fell 27.39%. Platinum fell very hard at 30.32%. They all for the same reason gold did; the dollar became much stronger due to the rate hike.
Some commodities were even more affected by the rate hike than gold was. For example Platinum, was more affected as the so much of the metal is in South Africa. The South African rand was one of the currencies that fell the hardest in 2015, in part because the dollar got so much stronger.
The one commodity sector that fell even harder than precious metal sector was oil industry. The oil industry has mainly suffered from an oversupply and a lack of demand.
