Commodity Markets Fundamental Analysis and Price Action
As we head into a fresh month and fresh quarter of 2022 – Rapidly surging global inflation, Rate Hikes and Geopolitical Risk are now emerging as the three major themes dominating and driving the financial markets.
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, Copper, Lithium, Platinum, Palladium, Uranium, Zinc, Coffee, Wheat and Lumber prices blasting through all-time highs.
Elsewhere, U.S Natural Gas prices have almost doubled this quarter and are on course for their strongest rally since 2009. Meanwhile, European Natural Gas prices have skyrocketed a whopping 90% to post their biggest monthly rise ever.
But the best performing commodity was Nickel.
Nickel prices snatched the headlines this month 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 the metals, energies to soft commodities have tallied up astronomical double to triple digit gains within the first quarter of 2022 – And this is just the beginning!
According to Goldman Sachs “we’re still only at the first inning of a multi-year, potentially decade-long Commodities Supercycle”.
Commodity Prices Forecast Video for the Week 04.04.22
Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions:
For a look at all of today’s economic events, check out our economic calendar.
This article was originally posted on FX Empire