New Delhi [India], August 18 : Tin metal has emerged as the top performer in the commodity market, showing exceptional growth compared to other metals so far in 2024.
According to a report from the National Stock Exchange, Tin has appreciated by a remarkable 27.2 per cent so far this year by June 25, it is the highest increase among all commodities.
The report also noted that Silver has also performed well with an increase of 21.7 per cent. Gold is also at an all-time high but as compared to the other commodities like Silver it has only appreciated by 12.5 per cent in 2024.
The report offers a comprehensive look at the annual performance of various commodities. While Tin leads with the highest increase, other metals have shown mixed results.
Copper has risen by 11.3 per cent, indicating solid growth. Zinc has also seen a notable increase of 6.6 per cent. In contrast, Aluminum has only grown by 4.4 per cent, showing more modest progress.
Additionally, both Platinum and Palladium have faced declines. Platinum has depreciated by 1.7 per cent, and Palladium has shown similar negative trends.
"Gold completed the week at a new all-time high, despite market expectations of a significant Fed rate drop in September. Gold has gained amid rising geopolitical tensions, as the Israeli Defense Minister stated over the weekend that Iran was still expected to undertake an assault, despite requests from Western nations to refrain from retribution" said Renisha Chainani, Head- Research, Augmont - Gold for all.
Commodity trading involves buying and selling various raw materials and their derivative products. These commodities cover a broad spectrum, ranging from agricultural goods to natural resources.
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