Commodities Signal Risk-Off Day: Devs Finally Get a Breather as Wall Street Panics Over Oil and Gold Dumps

Commodities markets are bracing for a risk-off day, as global economic uncertainty and trade tensions continue to weigh on investor sentiment. The downturn is expected to impact a range of commodities, including crude oil, gold, and copper. According to market analysts, the decline is attributed to a combination of factors, including a strong US dollar and concerns over slowing global growth. The risk-off sentiment is also being fueled by ongoing trade disputes between the US and China, which have led to decreased demand for raw materials. As a result, commodity prices are likely to decline, with crude oil potentially falling to around $60 per barrel and gold dropping to $1,400 per ounce. The decline is expected to have significant implications for commodity-reliant economies and companies, including major miners and energy producers such as ExxonMobil and Rio Tinto. The market volatility is likely to persist in the coming days, as investors await further developments on the trade front.