Here’s 3 commodities primed for triple digit gains in 2024 [Video]

So far this year, no market trend has captivated trader’s attention quite like the Supercycle in Commodities and there's a good reason why. 

This is now the fourth consecutive year that has seen a total of 47 Commodities ranging from the Metals, Energies to Agriculture notching up new multi-year and all-time record highs. 

While Gold has been making headlines recently with its meteoric rise to glistening new heights –analysts at GSC Commodity Intelligence believe there are 3 other Commodities to watch right now with even greater “upside potential”. 

Firstly, and in no particular order, you certainly cannot talk about the Commodity Supercycle without mentioning Copper – And that’s because the red metal has firmly positioned itself as one of the best performing asset classes of 2024. 

Copper's second secular “bull market this century” is off to a red-hot start in 2024 with prices rocketing above $10,000 a ton for the first time in two years. 

One of the major bullish tailwinds behinds Coppers rally is as a historic global squeeze on supply, combined with booming demand for the red metal to power Energy Transition and Artificial Intelligence technologies.

Elsewhere, a new global push for Nuclear power is fuelling demand for another highly sought-after Energy Transition metal.

And that’s Uranium. 

A resurgence in demand for Uranium is linked, in large part, to global efforts to tackle climate change. In December, almost 200 countries vowed at the COP28 U.N. Climate Conference in Dubai to triple their use of Nuclear Energy in a coordinated effort to achieve global net-zero greenhouse gas emissions by 2030.

As demand surges and the world needs more Copper and Uranium fast – there’s one big problem. 

Global supply is shrinking at a record pace off the back of a "triple deficit" – low inventories, low spare capacity and low investment.

Meanwhile, over in the Agricultural market – Cocoa has been hailed as a “hidden gem” by analysts at GSC Commodity Intelligence. 

This week, Cocoa prices soared to a new all-time record high of $12,000 per tonne. Just to put things into perspective – Cocoa prices are now more expensive than Copper for the first time in two decades. 

Cocoa prices are up over 200% from their opening price of sub $4,000 per tonne at start of this year and have more than quadrupled in the short space of four months. 

But more impressively, Cocoa prices have now chalked up a staggering gain of over 381%, from this time last year, when prices were trading at $2,495 per tonne. 

And the rally might not stop there! 

Whichever way you look at it, one thing is clear. The macro backdrop for Commodities in 2024 is looking more bullish than ever before – and it certainly won't take much for prices to breach new record highs in the coming weeks and months ahead. 

Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions: