Commodity Price:
A commodity price refers to the current value or price at which a raw material or primary product, such as oil, gas, electricity, metals, or agricultural products, is traded in the global marketplace. Commodity prices are determined by various factors including supply and demand dynamics, global economic conditions, geopolitical factors, weather patterns, and government policies. These prices can fluctuate significantly over time due to changes in these factors, impacting various industries and the economy as a whole.
References:
1. Investopedia – Commodity Prices:
https://www.investopedia.com/terms/c/commodity_prices.asp
2. World Bank – Commodity Markets:
https://www.worldbank.org/en/programs/commodity-markets
This A.I.-generated glossary is intended to provide a convenient means to understand terminology used on this website in the context of physical commodities trading. Some terms may have alternative and/or expanded definitions that may not be relevant here and thus not included. Sources provided are for reference and not intended to be an endorsement of the broader content on that website. Suggestions, questions, or corrections can be provided in the comment box on definition pages.