Last year proved to be another disappointing year for the majority of commodities with everything from oil and gas to grains and base metals recording large declines. Unfortunately for the bulls, 2024 could end up serving up more of the same, if early market sentiment is any indication. Whereas the Bloomberg Commodities Index (BCOM), a popular benchmark tracked by 23 exchange-traded contracts on physical commodities, is essentially flat in the new year, market sentiment closely echoes the start of 2023, signaling trouble ahead. …
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