Are we on the verge of a new commodities super-cycle? [Video]
Commodities have made an explosive start to 2021 – notching up spectacular gains on the first trading day of the New Year.
On Monday, Gold hit its highest level in two months. Silver surged over 4% to hit its highest since mid-December, whilst Platinum skyrocketed to its highest price in four years. And this could just be the beginning.
According to Goldman Sachs, we're currently seeing all the tell-tale signs of a commodities super-cycle: “Metal prices hitting multi-year highs, a rapidly declining U.S Dollar, Crude Oil prices reaching $50 a barrel and of course, a return to inflation”.
The major high-stake events that traders will be closely monitoring this week for clues on the markets next big move include the Georgia runoff elections, which will determine who controls the U.S. Senate and how much further stimulus to expect this year. FOMC Minutes from the December meeting and U.S Non-Farm Payrolls data.
Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions:
Reprinted from FXStreet，the copyright all reserved by the original author.
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