Published on 23 Sep 2022 on Insider Monkey via Yahoo Finance
In this article, we discuss the 11 best commodity stocks to invest in. If you want to read about some more commodity stocks, go directly to 5 Best Commodity Stocks To Invest In.
Macroeconomic concerns have been clouding the commodities market in the past few days after the Federal Reserve in the United States hiked the interest rate by 75 basis points yet again in an effort to tame inflation. The increase brought the rates to their highest level since 2008, which was the last time that the country was in a recession. The benchmark indexes in the US tumbled as a result, with the S&P 500, the NASDAQ Composite, and the Dow Jones Industrial Average down over 2%, 2.5%, and 1.6% respectively in the past five days as of September 22.
Prominent commodity stocks like Newmont Corporation (NYSE:NEM), Barrick Gold Corporation (NYSE:GOLD), and Wheaton Precious Metals Corp. (NYSE:WPM) act as safe havens amid the rate hikes that have shocked the commodities market, which had already been reeling from the pressures of the Russian war in Ukraine and the turmoil in the global energy sector. The rise in energy prices is the highest seen since the 1973 crisis.
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