Gold, silver and platinum with new bottoms (2)

The Bloomberg Commodity Index, which tracks the performance of commodities, declined 10% from its nearly three-year high in May, and its sell-offs began to shift to other assets.
This is clear from the performance of the mining companies, the worst performing sector this month, as part of the European Stoxx Europe 600 Index. This is not a big surprise, given the poor performance of the metals.
The weakness of the raw materials was also transferred to the currencies of the raw-producing nations. Almost all 22 key commodities in the Bloomberg Commodity Index fell from their peak in May, with the exception of live cattle, cotton and orange juice. Copper, which is often used as a barometer for the state of the world economy, fell by as much as 18% over the period.
The burning trade war and the uncertainty about Chinese demand for raw materials is one of the main reasons for the depreciation of raw materials. While there is uncertainty about China, raw materials will continue to be under pressure, according to market observers.