Commodity prices are always volatile, but in 2022 metal and mining markets reached new levels of turbulence, as the pandemic played out in China and the Ukraine war upended global energy.
Central banks bought a further 50 tonnes on a net basis during November 2022, representing a 47% increase from October's (revised) 34 tonnes, the latest World Gold Council data shows.
Commodities are having a volatile start to the year as China’s virus tsunami and policy shifts leave investors scrambling to calibrate expectations for 2023.
The Chinese state planner will resolutely crack down on illegal activities such as price gouging and speculation to ensure smooth operation of the market.