As the second quarter comes to an end and the second half of 2021 begins – ‘Infrastructure Spending and Inflation’ are now the major themes dominating and driving the financial markets.
Last week, President Biden announced his ambitious $1 trillion Green Energy and Infrastructure spending plan, to transform the U.S. economy.
The $1.2 trillion Infrastructure package will involve pumping hundreds of billions of dollars into improving the nation’s aging roads, bridges, railways, airports, power grid, internet services and cellular network.
Biden’s massive Green Energy and Infrastructure spending boom, ultimately means that the U.S is going to need more commodities – And lots of them.
Specifically industrial metals including: Copper, Palladium, Platinum, Silver, Lithium, Nickel and rare earth metals for batteries and 5G technology.
Looking ahead to this week, the biggest market-moving events that traders will be closely for clues on the markets next big move include; June’s Non-Farm Payrolls Data, ISM manufacturing PMI, CB Consumer Confidence Data and the impact of the Basel III agreement on precious metal prices – as Gold becomes reclassified from a Tier 3 asset to a Tier 1 asset.
Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions:
Phil Carr is co-founder and the Head of Trading at The Gold & Silver Club, an international Commodities Trading, Research and Data-Intelligence firm.