Now where it gets really funny is if China overstimulates and commodities go through the roof just a the time the Fed is starting to cut rates...
Source: zerohedge
Gold is up 49% since WSJ published this little gem:
Source: @spomboy, WSJ, E.J Antoini
China reported record levels of silver imports.
Source; Tavi Costa, Crescat Capital, Bloomberg
Cobalt is a critical mineral used in numerous commercial, industrial, and military applications.
In recent years, it has gained attention as it is also necessary for batteries used in cell phones, laptops, and electric vehicles (EVs). This graphic by Elements / Visual Capitalist illustrates estimated cobalt production by country in 2023 in metric tons. The data is from the most recent U.S. Geological Survey (USGS) Mineral Commodity Summaries, published in January 2024.
BREAKING: US crude oil production has officially hit a record 13.4 million barrels per day.
Daily oil production has increased by 22% over the last 4 years. Since 2008, production has skyrocketed 350% from ~3.8 million barrels per day. The US is now the world’s largest oil producer exceeding Russia's output by ~35% and Saudi Arabia by ~38%. The US is dominating global oil production. Source: The Kobeissi Letter, The Daily Shot
Copper Inventories have jumped to the highest level in more than 4 years signaling weak demand in Asia!
Source: Bloomberg, Barchart
US crudeoil production hit a record high.
Source: The Daily Shot
'It is a misconception that commodities fall in a recession - on average they rally through one.'
Source: Bloomberg
