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There’s no question, 2022 will go down in history as one of the most profitable years ever for commodity traders, however 2023 is projected to be even bigger!
This is now the second consecutive year that has seen a total of 27 commodities ranging from the metals, energies to agriculture tallying up astronomical double to triple digit gains – outperforming every other asset class out there!
According Goldman Sachs, the macroeconomic backdrop for Commodities in 2023 is looking more bullish than ever before in history – ultimately indicating that we could be on the verge of another record-setting year ahead.
In a note to clients, the bank’s analysts wrote that “underinvestment in new capacity, economic stagflation, China’s reopening, coupled with a slowing of global central bank rate hikes, leading to the eventual end of rate hikes next year and signs of a dollar peak will power monumental gains across the entire Commodities complex”.
The bank’s analysts went on to say that “the setup for Commodities in 2023 is more bullish than it has ever been since they first highlighted the Supercycle in late 2020”. The Wall Street bank concluded by reconfirming their view that “we’re still only at the first inning of a multi-year, potentially decade-long Commodities Supercycle”.
The last time Commodities significantly outperformed every other class – over a series of consecutive back-to-back years – was during the previous two Supercycles in the 1970s and the 2000s.
History suggests we are now at the forefront of a third Commodities Supercycle – which also brings with it one of the biggest wealth creation opportunities the world has seen.
And they are certainly not alone with their bullish outlook.
We are beginning to see more and more of the world’s most powerful financial institutions releasing their 2023 forecasts – with “extremely bullish” calls for Commodity prices to hit fresh record highs in the year ahead as the Supercycle continues to gather massive momentum.
Last week JP Morgan, Citigroup and Morgan Stanley – also joined the list with their outlook that 2023 is set to be another blockbuster year for Commodities due to all the macroeconomic events that are currently unfolding.
Extraordinary times create extraordinary opportunities and right now, as traders we are amidst one of the greatest eras of wealth creation the world has seen. Whichever way you look at it, the case for Commodities in a well-diversified portfolio has never been more obvious than it is right now!
Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions:
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