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The new commodity super cycle bull


Wells Fargo/John LaForge/7-22-2021

graphic image of a gold bull against blue background with arrows pointing higher

“This publication could be one of the more important ones we write this year – maybe for this decade. The reason is that since 2012, we spent a great deal of time advising investors to steer clear of commodities. Our tune finally began to change last year, and on March 12, 2020, we upgraded Commodities to Favorable on a tactical basis (6-18 months). Today, we are officially calling the end of the commodity bear super-cycle that started around 2011.”

USAGOLD note: I can remember when LaForge was bearish on commodities and took a lot of flack for it. On gold, he includes a chart showing fundamental pattern similarities to what occurred in 1999 just before it entered its secular bull market.

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