With all of the craziness that has been happening around the world lately, look at what else is getting ready for a major breakout.
By Peter Boockvar, author of the Boock Report
April 16 (King World News) – Here is what Peter Boockvar wrote as the world awaits the next round of monetary madness: The price of aluminum is hitting a fresh 6 year high and is now up 19% from the low hit two weeks ago as the impact of sanctions on Russia continue to ripple through the global market and every used of aluminum scrambles for other supply….
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Boockvar continues: The CRB index on Friday closed just a hair below 200 and is less than 1 pt from its highest level since October 2015. I still find the commodity space an attractive area. Rising wages, higher commodity prices and upward pressure with trucking costs along with sticky services inflation I expect will all combine for a continued rise in inflation.
CRB (Commodities) Ready For Major Breakout!
Fresh 9 1/2 Year High!
Boockvar also noted that interest rates have been continuing to surge: The 2 yr yield is now at 2.38-.39%, a fresh 9 1/2 year high.
The Bottom Line
King World News note: The bottom line is that the Fed remains trapped. That’s why they are raising rates quickly so they will be able to lower them as the economy and stock markets both roll over. The gold market is anticipating this and that is why we have started the next leg higher after the mid-cycle correction bottomed at $1,050 at the end of 2015. As the price of gold surges above $1,400, that is when the real fireworks will begin.
***Also Just Released The Gold Market Is Now Approaching The Mother Of All Upside Breakouts! CLICK HERE.
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