Why 2023 was a tough year for commodities even as gold and orange-juice prices hit records

Why 2023 was a tough year for commodities even as gold and orange-juice prices hit records


A number of commodities made notable moves in 2023, with gold and frozen orange-juice prices reaching record highs, but key commodities indexes are on track to post their largest losses in five years, pressured by declines in natural gas, coal, and grains.

The S&P GSCI XX:SPGSCI, a benchmark for investments in the commodity markets, traded 10% lower year to date as of Dec. 19, FactSet data show. The energy sector posted the biggest decline, with the S&P GSCI Energy index XX:SPGSEN down 12%.

The…

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