Global Commodity Price Trends: September Sees Sharp Rise in Precious Metals Amid Decline in Fertilizers and Energy
According to the latest World Bank data, global commodity prices witnessed mixed movements in September compared to August. While precious metals and industrial materials surged sharply, fertilizers and energy prices experienced notable declines, signaling shifting global demand and supply dynamics.
The most striking change came from the precious metals category, which recorded a 9.33% increase, the highest among all commodity groups. This rise reflects a strong investor preference for safe-haven assets amid global economic uncertainties and persistent inflationary pressures. With central banks maintaining cautious monetary stances, gold and silver prices have continued to attract investors seeking stability.
In contrast, fertilizer prices fell steeply by 4.37%, marking the largest decline in any category. The fall can be attributed to easing global supply chain disruptions, stabilizing natural gas prices (a key input in fertilizer production), and moderated agricultural demand following seasonal planting cycles. This decline offers some relief to farmers facing input cost pressures.
Energy prices also slipped slightly, down by 0.55%, after several months of volatility driven by oil market fluctuations and production adjustments among major producers. Despite the small drop, energy costs remain relatively elevated compared to earlier in the year, highlighting the continued fragility of the global energy market.
On the positive side, metals and minerals saw a 2.86% increase, reflecting stronger industrial activity and demand from emerging economies. The rise in this sector suggests growing optimism in construction and manufacturing sectors, particularly in Asia.
Among non-energy commodities, moderate gains were recorded across categories:
- Non-energy prices rose 0.89%
- Agriculture increased 0.36%
- Food climbed 0.38%
- Raw materials went up 0.51%
- Beverages saw a marginal gain of 0.19%
These steady increases point toward a stable demand pattern in consumer goods and industrial inputs.
Overall, the September data reveals a divergent commodity landscape — with precious metals soaring due to financial market uncertainty, while fertilizers and energy show softening trends driven by improving supply conditions. Analysts suggest that if global inflation and geopolitical risks persist, the upward trend in precious metals could continue into the coming months, while agricultural and fertilizer markets may remain subdued.
Source: World Bank, September 2025 Commodity Price Update (Data visualized with Datawrapper)
