# Commodity weekly Gold shines as the clouds darken | Saxo

> Saxo's weekly commodity commentary says the coronavirus slowdown spread from pro-cyclical commodities to the wider market, with crude oil hit hardest. Gold rallied to its biggest weekly gain since 2009 as a safe haven after an emergency 50bp Fed cut.

- Date: 2020-02-28 · published 2020-02-28T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/54506-commodity-weekly-gold-shines-as-the-clouds-darken-saxo
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Weaker crude and pro-cyclical demand lower energy-linked input costs and bias feed markets lower, while the broad risk-off move pressures grain and oilseed prices.

## Read by commodity

- SOY: bearish ▼
- WTI: bearish ▼
- CORN: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-03-20 | [Commodity weekly \| Saxo](https://feedsoft.ai/events/7426-commodity-weekly-saxo.md) | -26.8% | -27.2% |
| WTI | 2023-04-21 | [Commodity Weekly: April losses led by grains and industrial metals \| Saxo](https://feedsoft.ai/events/10364-commodity-weekly-april-losses-led-by-grains-and-industrial-metals-saxo.md) | -3.2% | -7.0% |
| WTI | 2022-07-07 | [The recent commodity sell-off](https://feedsoft.ai/events/5055-the-recent-commodity-sell-off.md) | -2.0% | -7.4% |
| WTI | 2025-02-19 | [Weekly Commodity Market Update \| Knox County Agricultural News](https://feedsoft.ai/events/26112-weekly-commodity-market-update-knox-county-agricultural-news.md) | -4.2% | -6.7% |
| WTI | 2021-08-27 | [The Commodities Feed: USD holds the market back \| snaps \| ING THINK](https://feedsoft.ai/events/45481-the-commodities-feed-usd-holds-the-market-back-snaps-ing-think.md) | +3.9% | +9.9% |
| BRENT | 2020-03-20 | [Commodity weekly \| Saxo](https://feedsoft.ai/events/7426-commodity-weekly-saxo.md) | -4.7% | -9.9% |
| BRENT | 2021-08-27 | [The Commodities Feed: USD holds the market back \| snaps \| ING THINK](https://feedsoft.ai/events/45481-the-commodities-feed-usd-holds-the-market-back-snaps-ing-think.md) | +3.6% | +8.6% |
| BRENT | 2021-06-21 | [Commodity Prices Dip As Dollar Surges \| OilPrice.com](https://feedsoft.ai/events/46491-commodity-prices-dip-as-dollar-surges-oilprice-com.md) | +4.1% | +1.0% |

## Sources

- home.saxo: https://www.home.saxo/content/articles/commodities/commodity-weekly-gold-shines-as-the-clouds-darken-06032020

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.