Missed Gold? Missed Copper? Oil’s Breakout Could Be Even Bigger

Commodities are once again dominating front-page headlines as institutional capital surges back into hard assets. Gold was first to erupt, blasting to fresh all-time highs. Copper followed with a vertical, deficit-driven rally powered by AI electrification demand.

Now a new rotation chart circulating across Wall Street has triggered a powerful question: Is Energy the next major leg of the Commodities Supercycle?

According to analysts at The Gold & Silver Club, the evidence is becoming impossible to ignore.

Gold Led the Charge – And Copper Confirmed the Structural Breakout

Gold’s bull market began quietly. But once prices smashed through the long-standing ceiling near $2,600 early this year, the breakout was explosive. Gold surged to new all-time record highs of $4,382 an ounce, fuelled by record central bank accumulation, deteriorating fiscal balances and escalating geopolitical tensions.

Copper then repeated the playbook. After years of compression, the red metal tore through multi-year resistance with such force that several major hedge funds have now labelled it “the single most mispriced asset of the decade.”

“These moves are not random. They’re sequential markers of a multi-year Commodities Supercycle unfolding in clear stages,” says Lars Hansen, Head of Research at The Gold & Silver Club.

“Gold moved first, signalling monetary debasement. Copper moved next, signalling structural supply deficits. The logical next rotation is Energy – and we are approaching the trigger moment.”

Copper’s Surge Confirmed the Structural Deficit

Long known as the market’s economic barometer, Copper’s behaviour has been extraordinary. Structural shortages, surging electrification demand and aggressive industrial restocking have created the perfect storm.

Once Copper decisively cleared its multi-year resistance band, momentum snowballed – mirroring Gold’s earlier breakout and confirming the macro trend Gold had already priced in.

As Hansen puts it:

“Copper’s breakout confirmed the Supercycle is structural, not speculative. We’re dealing with chronic shortages and demand curves that cannot be satisfied at current production levels.”

Now Oil Is Coiling for What Could Be the Most Explosive Move Yet

With Gold and Copper already in full bull-mode, attention is now shifting to Oil – the Commodity that traditionally moves last, yet often moves strongest.

Oil prices have been tightening inside a multi-year compression zone for nearly three years.

As Hansen notes:

“Gold broke out first. Copper broke out second. Oil is still building pressure. These long, high-level consolidations rarely resolve sideways – and almost never at the end of a macro cycle.”

Energy remains the most geopolitically sensitive and the most supply-constrained segment of the entire Commodities complex. When Oil breaks out, Hansen warns, “it won’t be a gradual rally – it will be a repricing event.”

The structural backdrop reinforces this view: years of underinvestment, accelerating AI-driven energy demand, rising geopolitical risk premiums and supply chains stretched from North America to OPEC+ countries.

Many traders now describe Oil as the most asymmetric opportunity in global Commodities.

A Narrow Window Before the Oil Breakout?

With Gold and Copper trading at or near record highs, many latecomers fear they’ve missed the largest moves. Oil, however, is offering something far rarer: a giant, coiled, multi-year structure with every macro catalyst aligned to the upside.

The sequence is unmistakable, says Hansen: “Gold moved. Copper moved. Oil is next.”

If you missed the Gold breakout… If you hesitated on the Copper surge… Oil is your second chance – and it may be the biggest of them all.

According to The Gold & Silver Club’s latest research, the Energy phase of the Supercycle is shaping up to be fast, aggressive and highly asymmetric – the type of move that can redefine a portfolio in weeks, not months.

High-conviction opportunities like this do not come often. When they do, the window is narrow.

This is the moment to position before the next major leg of the Commodities Supercycle begins.