The great commodities supercycle of 2022 continues to break new records – What’s next? [Video]
![The great commodities supercycle of 2022 continues to break new records – What’s next? [Video]](https://editorial.fxstreet.com/images/Markets/Commodities/Metals/Gold/gold-nuggets-14424039_XtraLarge.jpg)
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:
Author
Phil Carr
The Gold & Silver Club
Phil is the co-founder and Head of Trading at The Gold & Silver Club, an international Commodities Trading Firm specializing in Metals, Energies and Soft Commodities.
