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China's economic recovery from COVID restrictions and U.S. interest rate policy and the desire of some countries to control key resources are likely to set the tone in commodity markets this year. (Source photos by Getty Images, Kyodo and Reuters) 
Market Spotlight

China's opening and U.S. rates to stir commodity markets in 2023

From oil to gold, prices likely to ease from historic highs seen in 2022

RURIKA IMAHASHI, Nikkei staff writer | East Asia

TOKYO -- Monetary policy and China's reopening will be key variables in global commodity markets this year, after multiple commodities set historical highs in 2022, driven by the Ukraine war and sharp inflation, more broadly. 

While analysts' predictions range from bullish to bearish, one thing that they agree on is that most commodities are unlikely to soar above the level they reached last year.

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