Gold prices moved 1.86% higher than previous week, with prices moved to $1900 sector in the first time since last June. The main sentiment came from heightened tension between Russia and Ukraine, especially after Biden warned that there are indication that Russia was planning to invade Ukraine.

Until the close of the second week of February, the price of tin was observed to be continuing its bullish trend, supported by tight supply and increasing demand from the global market after the recovery in global economic activity indicated by the lifting of lockdowns in various countries. The average price of ICDX tin in February reached a level above $43,000 per metric ton, an increase of almost 4% compared to the average price throughout January.

Crude oil still showed a positive performance at the close of the first week of February, where prices jumped more than 5 percent, breaking through levels above $90 per barrel. The positive trend of crude oil price movements is supported by a number of catalysts that affect the demand and supply sides.

The ICDX’s CPOTR moved higher 0.44% on the past week, amidst Indonesia domestically set rules for local markets. With the Domestic Market Obligation (DMO) applied to supply the local market and also Domestic Price Obligation (DPO) which applied so the CPO sold locally must not exceed Rp 9,300.00.

The ICDX’s gold moved higher 0.78% on the past week, as higher risk sentiment pushed the gold prices. The risk aversion became the main issue and people around the world turn into gold asset to secure their portfolio.

The ICDX tin price at the beginning of this year was observed to be still in a bullish trend with the average price movement remaining above $40,000 per MT. The tight supply in the global market is the main catalyst that drives the price of this basic metal commodity.

The COFR rupiah- denominated crude oil contract ended the first week of 2022 with a substantial appreciation of 5.42% to the level of Rp 1,129,400,- per barrel. Although sentiment is mixed around the oil market, especially regarding the balance of supply and demand levels, price action tends to respond more aggressively to positively correlated issues. Among these are the development of conflicts in one of the major producing countries, namely Kazakhstan, and the potential for further reductions in oil supply in Libya, the US and Canada.

During the week, crude palm oil (CPOTR) contracts were observed to be moving in a bullish trend and closed the week with a significant appreciation of 5.26% - closing at Rp 17,600 per kg. Taking advantage of the fundamentals again, CPO prices have rebounded after previously falling to a pessimistic level at the end of November. There is an imbalance of supply and demand levels, so the strong reason behind the price rally.