{"id":84610,"date":"2023-05-01T17:17:53","date_gmt":"2023-05-01T17:17:53","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/all-news\/selling-pressure-continues-on-commodities"},"modified":"2023-05-01T18:01:05","modified_gmt":"2023-05-01T18:01:05","slug":"selling-pressure-continues-on-commodities","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/all-news\/selling-pressure-continues-on-commodities","title":{"rendered":"Selling pressure continues on commodities"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Tanzania. <\/strong><\/span>Selling pressure on commodity markets is continuing amid concerns over global economic activity. Uncertainties over the US Fed&#8217;s monetary policy and global recession expectations are having a severe impact on investors&#8217; risk appetite.<\/p>\n<p>Analysts said while economic activity declined in the US, inflation risks are still alive; this situation risks a recession risks if the Fed takes new steps against price increases.<\/p>\n<p>Markets see an 84% chance the Fed will raise interest rate by 25 basis points this week while forecasting it will keep rates constant in June. With these developments, a sales-weighted course was seen in bond markets; the 10-year US bond yield ended last week at 3.42%, falling around 15 basis points.<\/p>\n<p>Analysts said rising geopolitical tension between China and Taiwan and uncertainties related to the Chinese economy have also dampened risk appetite. The construction sector is also having difficulties recover, which raised concerns on the commodity demand.<\/p>\n<p>Last week, the price of gold rose 0.3%, while silver, palladium, and platinum lost 0.1%, 6.3%, and 4.4%, respectively. Weak incomes, slipping consumer confidence, a negative outlook on banking sector recovery, and liquidity issues cause a diminishing risk appetite.<\/p>\n<p>Analysts stated that risks related to the banking crisis, which was thought to be left behind in the US, became the main risk factor again after balance sheets were announced.<\/p>\n<p>Expectations that China&#8217;s demand for industrial metals will fall also caused a decline in silver prices. Base metals also posted declines; the price of copper dropped 2.9%, lead 0.9%, aluminum 2.1%, nickel 1.4%, and zinc 2.7%.<\/p>\n<p>The price of Brent oil dropped 1.6%, while natural gas price rose 7.9%. On the agriculture side, the price of wheat dropped 5.9%, corn 5%, and soybeans 2.1%, while rice rose 2.8%.<\/p>\n<p>The price of sugar saw its highest level since October 2011, up 0.5%, while coffee and cocoa prices dropped 3% and 1.6%, respectively. The increase expectations in the production affected prices negatively, while supply concerns in sugar continue.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/tanzania\">Tanzania<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Tanzania. Selling pressure on commodity markets is continuing amid concerns over global economic activity. Uncertainties over the US Fed&#8217;s monetary policy and global recession expectations are having a severe impact on investors&#8217; risk appetite. Analysts said while economic activity declined in the US, inflation risks are still alive; this situation risks a recession [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":84609,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[6990,6991,9219,711],"class_list":["post-84610","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press-2","tag-africa-press-tanzania","tag-commodity-markets","tag-tanzania"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Selling pressure continues on commodities - Tanzania<\/title>\n<meta name=\"description\" content=\"Selling pressure on commodity markets is continuing amid concerns over global economic activity. 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