Commodities: 2024 Performance vs. 2025 Outlook
By Ion Jauregui – ActivTrades Analyst
Below is an analysis of the commodities that performed best in 2024 and those expected to lead in 2025.
Top Performers in 2024
1. Gold: Supported by global economic uncertainty, gold demonstrated strong performance as a safe-haven asset, with prices averaging $2,000 per ounce.
2. Copper: Economic recovery and the boom in renewable energy drove demand, reaching record highs in some markets.
3. Cocoa: Adverse weather conditions in West Africa limited production, pushing prices to record levels.
4. Natural Gas: After a weak start in 2023, natural gas rebounded due to a colder-than-expected winter in Europe and Asia.
Expected Top Performers in 2025
1. Copper: Electrification and the transition to electric vehicles (EVs) position copper as a key winner, with expectations of new record highs.
2. Silver: Its use in technology and renewable energy, particularly in solar panels, is expected to boost demand.
3. Coffee: Climate instability in Latin America, coupled with sustained demand, could keep prices elevated.
4. Nickel: Growing battery production for EVs makes nickel a critical metal for 2025.
Comparison: Performance and Outlook Table
Conclusion
The performance of commodities in 2024 was driven by economic recovery and climate factors. In 2025, the energy transition will remain a key driver, benefiting metals like copper, silver, and nickel. In contrast, fossil fuels such as coal may face significant challenges due to global decarbonization policies.
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The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
Below is an analysis of the commodities that performed best in 2024 and those expected to lead in 2025.
Top Performers in 2024
1. Gold: Supported by global economic uncertainty, gold demonstrated strong performance as a safe-haven asset, with prices averaging $2,000 per ounce.
2. Copper: Economic recovery and the boom in renewable energy drove demand, reaching record highs in some markets.
3. Cocoa: Adverse weather conditions in West Africa limited production, pushing prices to record levels.
4. Natural Gas: After a weak start in 2023, natural gas rebounded due to a colder-than-expected winter in Europe and Asia.
Expected Top Performers in 2025
1. Copper: Electrification and the transition to electric vehicles (EVs) position copper as a key winner, with expectations of new record highs.
2. Silver: Its use in technology and renewable energy, particularly in solar panels, is expected to boost demand.
3. Coffee: Climate instability in Latin America, coupled with sustained demand, could keep prices elevated.
4. Nickel: Growing battery production for EVs makes nickel a critical metal for 2025.
Comparison: Performance and Outlook Table
Category Commodity/ 2024 Performance/ 2025 Outlook/ Key Drivers for 2025
Precious Metals/ Gold /Excellent/ Stable-Bullish/ Inflation, safe-haven demand
Industrial Metals/ Copper/ Excellent/ Bullish/ Electrification, renewable energy
Industrial Metals/ Silver/ Good/ Bullish/ Technology, renewable energy
Industrial Metals/ Nickel/ Good/ Bullish/ EV battery production
Agricultural Products/ Cocoa/ Excellent/ Stable/ Weather, production stability
Agricultural Products/ Coffee/ Good/ Stable-Bullish/ Weather, global demand
Energy/ Natural Gas/ Good/ Stable /Weather, Asian demand
Energy/ Crude Oil/ Stable/ Stable-Volatile/ OPEC+ policies, economic recovery
Energy/ Coal/ Fair/ Bearish/ Energy transition
Conclusion
The performance of commodities in 2024 was driven by economic recovery and climate factors. In 2025, the energy transition will remain a key driver, benefiting metals like copper, silver, and nickel. In contrast, fossil fuels such as coal may face significant challenges due to global decarbonization policies.
*******************************************************************************************
The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
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