Commodity prices at all levels have had an explosive start to the month and are firmly on track for their biggest weekly gain since 1960.
Oil prices hit their highest level in a decade, hitting $120 a barrel on Thursday, while aluminum hit a new high, zinc rose above $4,000 and wheat hit its highest level since 2008 .
Elsewhere, European natural gas prices broke all records, soaring 60%.
A total of 27 commodities ranging from metals to energies to commodities have already posted record gains in the first quarter of 2022 – And this is just the beginning!
The fallout from the Russian-Ukrainian war is choking off an important global source of metals, energy and crops, causing prolonged shortages in the supply chain and higher global inflation.
Taken together, this ultimately adds further bullish tailwinds to the Supercycle – positioning commodities as one of the most lucrative and compelling asset classes in every portfolio.
In fact, a long list of major Wall Street banks, from Goldman Sachs, JPMorgan to Bank of America, have described commodities as their “preferred asset class over the next decade.” In recent weeks, Morgan Stanley and Blackrock have also joined the list with their call that commodities will be “the best performing asset class of 2022 and beyond”.
Where do the prices go next? Watch The Commodity Report now, for my latest price forecasts and predictions: