Round-up
The past week has seen cocoa prices rise by 8.0% to top the performance table, as weather conditions are on the radar once more to cast some uncertainties on supplies. Heavy rains in West Africa have put some delay on harvesting efforts, while recent gains follows after a sharp 15% retracement in end-September as well.
Gains were registered in precious metals too, with gold and silver prices edging up 1.9% and 2.9% respectively for the week. The highlight may revolve around oil prices, which are down 3.8% over the past week. Market participants have been fading geopolitical risks on the rising prospects that Iran’s energy infrastructure will not be in Israel’s crosshair, triggering a wave of profit-taking in crude oil prices.