In January 2023, Global X Research surveyed 296 individuals in the United States regarding their thoughts on the current state of commodities. This includes how the interplay between political events and the market for commodities impact commodity demand, prices, and investment appeal. Topics ranged from thoughts on the state of Europe’s energy crisis to investor portfolio allocation towards commodities.

Key Takeaways

• Nearly 70% of surveyed individuals foresee gas prices moving at least somewhat higher over the next year.
• Almost half of respondents don’t believe Europe’s energy crisis has subsided, while about half remain unsure.
• Survey respondents largely feel China’s reopening positively impacted copper and oil prices but are more unsure when it comes to gold prices.
  • 60% of respondents feel China’s reopening will at least slightly improve the price of copper.
  • 58% of respondents feel China’s reopening will at least slightly improve the price of oil.
  • 43% of respondents feel China’s reopening will at least slightly improve the price of gold.
• Respondents believe gold (23%) will perform best over the next year followed close behind by oil (21%) and gas (20%), respectively.
• Among other factors, surveyed individuals expect economic, political, and industry advancements will improve performance.
• Over half of respondents currently allocate less than 5% of their portfolio to commodities.
• 52% of surveyed individuals are reluctant to invest in any commodities or companies which produce them, while 47% are either open to the idea or already do invest.

Click here to download the Global X ETFs Survey, Consumers Weigh in on Commodities.