Commodity markets allow for the trading of raw materials and agricultural products. Commodities can be classified into categories like precious metals, agricultural products, energy, and petrochemicals. While some commodities like gold and oil are traded on exchanges, others like fresh flowers and eggs currently have no formal markets. Commodity markets provide an alternative asset class that is not correlated to stocks and bonds. Trading occurs through physical spot markets, forward contracts between private parties, and standardized futures contracts on regulated exchanges. Key participants include hedgers who manage risk and speculators who seek profits. Regulators oversee commodity markets to ensure transparency, fairness, and financial stability.