New Delhi, August 18, 2024: Tin has emerged as the top performer in the commodity market this year, with a remarkable growth of 27.2% by June 25, 2024, according to data from the National Stock Exchange (NSE). This performance places tin at the forefront of commodity price increases, outpacing other metals.
The NSE report highlighted that silver also experienced significant growth, rising by 21.7% in 2024. Although gold reached new all-time highs, its growth rate of 12.5% has been relatively modest compared to other metals like silver.
In addition to tin, other metals such as copper and zinc showed solid growth. Copper rose by 11.3%, while zinc saw an increase of 6.6%. On the other hand, aluminum’s growth was more modest at 4.4%. Both platinum and palladium experienced declines, with platinum down by 1.7% and palladium showing similar negative trends.
Commenting on the performance of gold, Renisha Chainani, Head of Research at Augmont, noted that despite expectations of a major rate cut by the Federal Reserve in September, gold reached new highs amid rising geopolitical tensions. She cited concerns over Iran’s potential actions as a factor driving gold’s price surge.
The strong performance of tin and other metals suggests that prices could remain elevated for the remainder of the fiscal year, as market conditions continue to favor growth in commodity markets.
