Below is an updated look at the year-to-date percentage change of various commodities. As shown, while natural gas, oil, coffee and orange juice are down more than 10%, the precious metals are all up nicely in 2016. Gold is leading the way on the upside with a huge gain of 17.6% over the first two months of the year.
Below are trading range charts for oil, natural gas, gold and silver. In each chart, the olive green shading represents between two standard deviations above and below the commodity’s 50-day moving average.
Both gold and silver have skyrocketed to the top of their trading ranges recently. And while natural gas is at the bottom of its range, oil has actually bounced off of oversold levels back into neutral territory.