What are investors concerned about in commodity markets?

Investors are demonstrating caution regarding the potential intensification of trade wars and their impact on commodity markets. The financial community appears to be monitoring signs of escalating trade tensions that could disrupt global commodity flows and pricing. This wariness comes amid a mixed market landscape where Asian shares show muted performance while European markets, particularly defense and banking sectors, reach new highs. Meanwhile, key commodities like Brent oil and gold are experiencing notable price fluctuations, reflecting the underlying uncertainty in global trade relations.