Potential 2026 Ceilings: $5 Copper, $4 Corn - The world facing unprecedented tariffs from the largest goods importer is a good reason for copper to trail the S&P 500. It's a question of duration and dependency. A key takeaway from my graphic is the need for the US stock market

Come on Bitcoin -- prove you're not the last big trade (LBT). Stay above your high vs. gold from 2021. If the first-born crypto in 2009 -- now with about 19-million minions -- backs down from roughly 35 ounces of the rock on Aug. 15, it may signal T-bonds as the NBT, following

Gold ETFs Breach 92 Million-Ounce Threshold - Bloomberg's measure of total gold ETF holdings jumped to a two-year high. At 92.7 million ounces on Aug. 15, my graphic shows this metric surpassing the 92 million threshold first reached in 2020, but with a big difference -- stock

Gold vs. Bitcoin, Beta in 2025: The VIX May Be Your Tour Guide - Burgeoning prerequisites for the top crypto asset to outperform gold: - More buyers - A rising stock market accompanied by a declining VIX - US strategic reserve - Rules of unchecked similar risk-asset supply and

Gold Haven vs. Falling Crude, Copper on the Edge - At 530 on Aug. 15, the Bloomberg Commodity Spot Index (BCOM) is on the verge of its highest-ever year-end mark, but gold leading gainers isn't a good sign for broad commodity underpinnings. Full report on the Bloomberg here:

What of Copper If US Stocks Turn Red in 2025? At about $4.46 a pound on Aug. 15, copper is on the verge of its highest-ever year-end close. My graphic shows a primary prerequisite to push the economically sensitive metal past this threshold: a resilient US stock market. Full

Finish-Line High in 2025? US Stocks Undue Burden vs. Oil, Copper - Despite some estimates of government debt-to-GDP around 300%, and money supply roughly double that of the US, China's minus 3.6% Producer Price Index may suggest global deflationary leanings. My analysis of yearly

Does the resilience of the global economy really depend on Dogecoin? Something future generations may find humorous: millions of numbers on screens, tracking nothing tangible, yet valued at billions of dollars. In 2025, I’m sticking with the rock (gold), especially if the US

Inklings if 1999, 2007 in cryptos, markets. Does gold get it?

A five-month bull flag in gold. What stops a next step toward $4,000 an ounce? bloomberg.com/news/videos/20… #gold Bloomberg Intelligence

Speculators May Have Fueled Corn's $5 Ceiling and Tilt Toward $3 - The seeds for corn to get too cheap into year-end might have been sown when managed money (hedge funds) stretched too long at the start of 2025. Full report on the Bloomberg here: blinks.bloomberg.com/news/stories/t… {BI COMD}

Can Copper Counter Deflating Dominoes? Hedge fund positions in CME copper are poised for the metal to rebound from its recent pullback, bucking downtrends in crude oil, corn, iron ore and Chinese government-bond yields. Full report on the Bloomberg here: blinks.bloomberg.com/news/stories/t…

What's Normal for Natural Gas? Back to $2 - Whether the front US natural gas future can stay above $4 per million BTUs could be one of the key energy-sector questions approaching the 2025-26 winter. Full report on the Bloomberg here: blinks.bloomberg.com/news/stories/t… {BI COMD}

Brent Crude's Next Battle Could Be $60 Support - The last time Brent crude oil futures closed below $60 a barrel was on the way up in 2021. Reversing that rally is the prevailing trajectory. Full report on the Bloomberg here: blinks.bloomberg.com/news/stories/t… {BI COMD} #crudeoil #energy

Different This Time? Spiking Gold vs. Crude - A top question for commodities may be what stops the price of gold from advancing vs. crude oil. My chart shows one possible cap: The gold/crude ratio at 53 on Aug. 18 -- has never been higher on a year-end basis. Full report on the

Rising Crude Surpluses and Budget Deficits - Climbing US crude oil supply excesses and persistent government deficit spending are top forces underpinning gold vs. the fossil fuel. Comparing today's ratio to 2020 -- the last time 53 barrels equaled an ounce of gold -- suggests a

100x May Be the Threshold for Gold Bull vs. Crude Bear Markets - The barrels of WTI crude oil equal to an once of gold may be headed toward 100x, from 53x on Aug. 18. Five months of building a base around $3,300 an ounce, the shift to substantial ETF inflows after four years of

$100,000 Bitcoin, VIX at 20 -- meh, just some reversion that may favor gold. Full report on the Bloomberg terminal here: blinks.bloomberg.com/news/stories/t… {BI COMD} #bitcoin #stockmarket #gold Bloomberg Intelligence