The looming commodity cliff (#581)

Commodity Market Analysis Oil prices are on the rise, currently trading around $89 per barrel, indicating both demand and supply factors at play. Factors affecting oil prices include supply disruptions from Russia and Saudi Arabia's production cuts through OPEC+. Concerns about inflation are reflected in the rising price of gold, which is currently trading at all-time highs above $2300 per ounce. Despite uncertainty, inflation is not expected to decrease soon, especially with increasing energy costs Discussion on the delayed rate cuts by the US Federal Reserve and the global outlook on inflation. Implications of Goldfield's Chilean Mine Production Goldfield's Chilean mine is expected to produce gold at significantly reduced costs in the coming years, potentially impacting global gold supply. Analysis of the time taken for new mines to commence production, highlighting the challenge of meeting future demand. Tax Collection Insights from SARS SARS reports an additional R10 billion in tax receipts, contributing to a total of R1.7 trillion in tax collections. While individual tax collections saw an increase of 8.2%, company tax declined by 9%, reflecting challenges faced by various sectors, including retail and mining. Performance Review of ETFs (full list here) Top performing ETFs in the first quarter of 2024 include those focused on international markets, particularly in technology and Japanese sectors. Conversely, local ETFs, especially those tied to South African markets, experienced declines. Analysis of factors influencing the performance of specific ETFs and their compound annual growth rates (CAGRs). Simon Brown