Commodity prices climbed on Tuesday, with oil, silver, and copper among the standouts, buoyed by China’s stimulus measures, but traders should be wary about the outlook for the sector until they see evidence that the global economy will avoid a hard landing.

The rally sparked by announcement from China's central bank of a wide-ranging stimulus package faded as investors began to doubt that the measures would be sufficient to revive the world's second-largest economy.

China-exposed assets jumped on Tuesday after Beijing announced its biggest stimulus since the pandemic in a bid to pull the world's second-largest economy out of the deflationary funk that has shaken global currency and equity markets this year.