Commodity prices hit all-time highs – What's next? [Video]

The surge in commodity prices shows no signs of slowing down with everything from the metals, energy to agriculture markets, scaling multi-year highs.

Last week, Iron Ore broke $200 a ton for the first time ever. Palladium broke above $3,000 to hit a new record high and Copper prices soared more than 10% to surpass an all-time high.

The bullish momentum also split over into the precious metals with Gold posting its best week since November 2020, while Silver prices jumped 6% to record their biggest weekly gain in 3-months.

There are plenty of fundamental factors why commodities are on the move, but the key driver is a vaccine-led recovery fuelled by massive amounts of global stimulus into Green Energy and Infrastructure projects. This is against a backdrop of tightening supply across many high-in-demand commodities, which firmly suggests that a new supercycle is now underway.

Interestingly, this year many commodities have already exceeded the highs of the previous supercycle seen during the early 2000s – And this is just the beginning!

Looking ahead to this week, the key macro events that traders will be watching closely for clues on the markets next big move include; CPI and PPI data. Jobless claims, U.S. Retail Sales as well as comments from a host of Fed speakers.

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