Want To Know Where Gold Prices Are Heading Next? Then Keep An Eye On Sugar
Gold’s Unstoppable Run: A New Era for Precious Metals
You certainly cannot talk about Commodities without mentioning Gold – and that’s because the precious metal is officially everyone’s favourite trade once again.
Last week, Gold prices came in striking distance of hitting all-time record highs reached in August 2020, while Silver prices racing above $25 an ounce.
Gold has been on an unstoppable run, skyrocketing from the $1,800 level at the beginning of March to above $2,000 an ounce – notching up an impressive gain of over 12%, in the past month alone.
Gold prices have now risen for a second straight quarter in a row – up over 28% from the November lows of $1,600 an ounce – scoring their biggest back-to-back quarterly gain ever in history – and the rally might not stop there!
We’re just over a quarter way into 2023 and it has already been a massive year Gold – but this could just be the beginning of the precious metals best year since 2008.
Right now, Gold prices are spending very little time below the key psychological level of $2000 an ounce, which ultimately suggests this could be the start of a much bigger bullish move.
The Sugar Connection: What It Reveals About Inflation and Gold Prices
If you want to know where Gold prices are heading next, then you should pay closer attention to Sugar prices.
This sweet Commodity hardly gets any mainstream attention – and that’s intentional because the world’s most powerful Wall Street institutions do not want retail traders to know about this well-kept insider’s secret.
Sugar prices have quadrupled this year and are setting new record highs almost every month. Sugar prices are currently trading at the highest since 2011 – up over 150% from their 2020 lows.
Unlike other agricultural commodities, Sugar is in everything, which means food prices will remain higher for longer and there is not much the Federal Reserve and its global central-banking peers can do about that.
Wall Street institutions view the Sugar market as a very reliable underlying indicator that we haven’t seen the peak in inflation yet – and more especially now, with an OPEC-induced “second wave” of inflation on the way. This also means we haven’t seen the peak in Gold prices yet!
Whichever way you look at it, one thing is clear – it’s only a matter of time before Gold prices break all-time record highs. The big question now is how high will prices go?
Gold Price Forecast for April 12, 2023
Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions: