Commodity prices across the board have been on an absolute tear – racking up double to triple-digit gains on a week to week basis as the sector-wide Supercycle continues to break new records.
Last week, Oil prices soared above $130 a barrel to hit their highest level in a decade. While Gold extended its parabolic rally from just under $1,800 an ounce to a high of $2,070 an ounce – just $5 short of an all-time high reached in August 2020.
The bullish momentum also split over into other commodities with Aluminium, Platinum, Palladium, Copper, Zinc, Wheat, Coffee and Lumber prices blasting through all-time highs.
Elsewhere, European Natural Gas prices skyrocketing a whopping 90% to post their biggest weekly rise ever.
But the best performing commodity was Nickel.
Nickel prices snatched the headlines with a blistering gain of over 250% in a single day to register the biggest one-day move ever seen in the history of the commodities markets.
In total 27 Commodities ranging from metals, energies to soft commodities have tallied up astronomical gains already within the first quarter of 2022.
And this is just the beginning!
As major macro-events continue to unfold from rapidly surging global inflation, prolonged supply-chain shortages to geopolitical risks – many of the world's most powerful financial institutions have raised their targets with “extremely bullish” calls for Commodity prices to hit fresh record highs in the months ahead.
Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions:
Trading has large potential rewards, but also large potential risk and may not be suitable for all investors. The value of your investments and income may go down as well as up. You should not speculate with capital that you cannot afford to lose. Ensure you fully understand the risks and seek independent advice if necessary.
Recommended Content
Editors’ Picks
EUR/USD recovers from two-year lows, stays below 1.0450
EUR/USD recovers modestly and trades above 1.0400 after setting a two-year low below 1.0350 following the disappointing PMI data from Germany and the Eurozone on Friday. Market focus shifts to November PMI data releases from the US.
GBP/USD falls to six-month lows below 1.2550, eyes on US PMI
GBP/USD extends its losses for the third successive session and trades at a fresh fix-month low below 1.2550 on Friday. Disappointing PMI data from the UK weigh on Pound Sterling as investors await US PMI data releases.
Gold price refreshes two-week high, looks to build on momentum beyond $2,700 mark
Gold price hits a fresh two-week top during the first half of the European session on Friday, with bulls now looking to build on the momentum further beyond the $2,700 mark. This marks the fifth successive day of a positive move and is fueled by the global flight to safety amid persistent geopolitical tensions stemming from the intensifying Russia-Ukraine war.
S&P Global PMIs set to signal US economy continued to expand in November
The S&P Global preliminary PMIs for November are likely to show little variation from the October final readings. Markets are undecided on whether the Federal Reserve will lower the policy rate again in December.
A new horizon: The economic outlook in a new leadership and policy era
The economic aftershocks of the COVID pandemic, which have dominated the economic landscape over the past few years, are steadily dissipating. These pandemic-induced economic effects are set to be largely supplanted by economic policy changes that are on the horizon in the United States.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.