Tracking the Commodity Market Live: A Comprehensive Guide

Commodity markets, where raw or primary products are exchanged, are critical for traders and investors who are interested in diversifying their portfolios beyond traditional shares, bonds, and ETFs. In today’s digital age, following commodity markets has become increasingly accessible, with up-to-the-minute live updates available online, on mobile application platforms, as well as on television channels. But how exactly do you track the commodity market live?

Why Track Commodity Markets?

Before delving into the ‘how’, let’s discuss the ‘why’. Specifically, why should you keep an eye on the live commodity markets?

Traders and investors track the live commodity market to make informed decisions about their investments. It helps investors analyze trends, understand market movements, anticipate risks, and identify potential opportunities. For instance, changes in weather patterns can significantly impact agricultural commodities, while political unrest can influence energy prices. Being aware of such live changes can aid in making real-time investment decisions.

Where do I track Commodity Markets?

Online Trading Platforms and Websites

One of the most convenient ways of tracking commodity prices is through online trading platforms and websites. There are numerous online trading platforms, like TD Ameritrade, ZuluTrade, eToro among others, that not only allow trading but also provide real-time tracking of global commodity markets.

The Bloomberg Markets website, for instance, provides live updates of various commodities like metals, agriculture, energy, etc. Similarly, leading financial websites like Moneycontrol, Investing.com, Marketwatch, CNBC, and many others offer live tracking services of various commodities in the market.

Mobile Applications

Beyond websites and trading platforms, many individual traders and investors prefer using mobile applications to track live commodity prices. Apps like Investing.com, Bloomberg, MetaTrader4, and others provide up-to-date, real-time data related to the commodity market. The advantage of using these applications is that they offer flexibility and convenience as you can track the market at any time and from anywhere.

Television Channels

Television channels like Bloomberg TV, CNBC, CNN Money, and others often have dedicated segments showing real-time commodity prices. These channels also bring financial experts on-air to analyze and provide insights on the market movements, which can aid in understanding the potential future trajectory of commodities.

Key Points to Keep in Mind

1. Market Hours

Each commodity market has its own operating hours. For instance, the NYMEX is open from Sunday to Friday 6:00 p.m. to 5:15 p.m. (Next day) ET with a 45-minute break each day beginning at 5:15 p.m. While the London Metal Exchange operates from Monday to Friday at 1:00 a.m. to 8:00 p.m. ET. Ensure you understand these timings when tracking commodities real time.

2. Consideration of Fundamental Factors

While tracking, it’s crucial to remember that commodities are often impacted by fundamental factors. These can range from geopolitical events, weather conditions, supply-demand dynamics, and so forth.

3. Technical Analysis

Alongside fundamental analysis, live tracking should also be supplemented with technical analysis, which focuses on patterns within price data to forecast future price movements.

Key Takeaways

Tracking live commodity markets involves utilizing available technology platforms like online trading sites, mobile applications, and television channels. Stay mindful of the operating hours of these markets, and the multiple fundamental and technical factors that influence commodity prices. As with any form of trading or investing, staying informed is key. Practice due diligence and if necessary, seek guidance from financial advisors to navigate the fascinating, yet complex, world of commodity trading.