Wall Street Banks Predict Start of New Commodities Super-Cycle in 2021
As we transition into a new year, major financial institutions such as Goldman Sachs, Bank of America, and now JPMorgan are all singing the same tune – a bullish outlook on commodities. JPMorgan analysts have recently released a report forecasting the beginning of a new commodities super-cycle in 2021.
According to the report, a long-term boom in the commodities market is underway, with potential for significant gains across the entire sector. One key factor driving this trend is the global push towards combating climate change, which is expected to increase demand for metals essential for renewable energy infrastructure, batteries, and electric vehicles. Among these metals, silver stands out as a key component in solar power technology.
Silver’s role in renewable energy is set to grow further, with photovoltaic demand for silver forecasted to exceed 3000 tonnes in 2021. As governments worldwide adopt more aggressive environmental policies, the demand for silver is expected to remain strong for years to come.
Silver was a top performer in 2020, with a nearly 60% rally, and analysts predict it will continue to be a precious metal to watch in 2021. Additionally, other metals like platinum, palladium, and rhodium have also seen impressive price surges in recent months.
With commodities markets heating up, investors are keeping a close eye on price trends and forecasts. To stay informed on the latest developments, experts recommend following the Commodity Report and monitoring economic events through platforms like FX Empire.
