A massive commodity supply shock is unfolding, and for those wondering what to do regarding gold, silver, and the mining shares, here are some charts that might help you step back and look at the big picture.
But first, a quick note regarding the commodity supply shock.
Commodity Supply Shock
March 3 (King World News) – Peter Boockvar: The invasion driven commodity supply shock continues with its price shock. After the CRB food index closed at a record high for the 8th trading day in the past 9, the price of wheat is up another 6% and higher by 40% over the past 2 weeks to above $11, the highest since the parabolic spike in 2008. Soybeans are near $17 and corn is at $7.5 per bushel. For perspective, in the summer drought in 2012, corn got to $8.3 and soybeans to $17.70. The CRB raw industrials index closed at a fresh record high yesterday. Aluminum is up another 5% to a fresh record high. Zinc is at a 15 yr high. Oil continues higher but luckily Dutch TTF natural gas is giving back some of the recent spike. As of yesterday’s close, the 2 yr US inflation breakeven closed at 4.28% vs 3.65% 2 weeks ago. The 5 yr hit 3.31% yesterday, up 37 bps over the past 2 weeks…
To find out which silver company just made a major acquisition that will
quadruple their production click here or on the image below
Now for some remarkable charts from Ronald Stoferle at Incrementum:
To listen to the top trends forecaster in the world discuss the Ukraine War as well as what to expect next for gold and more CLICK HERE OR ON THE IMAGE BELOW.
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