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<\/p>\nThe green metals complex has had a stellar 2021.\u00a0 Lithium has led the way, rising 61% YTD, followed by vanadium +37%, cobalt +41% and copper +34%.<\/p>\n
Copper soared to an all time highs on Friday, reaching as high as $10,440 a ton. The metal is surging on the back of surging manufacturing output in the US, Germany and Japan. Investors are also piling into the metal as a bet on the growth of electric vehicle penetration.<\/p>\n
Soft commodities continue to be well bid, with Lumber leading the way up 93% year-to-date. New homes now cost approximately $36,000 more because of the epic shortage of lumber.<\/p>\n
Gold and Silver have struggled relative to Bitcoin since the COVID pandemic, on a year-to-date basis Bitcoin is up 100% while gold and silver are effectively flat (-3% and +4% respectively).<\/p>\n
However in the last month we’re seeing signs of relative strength in precious metals; gold is up +6%, silver is up +11% and Bitcoin ins down -4%.<\/p>\n
While Ethereum isn’t included in the store of wealth category because of the lack of a supply limit (Bitcoin has a cap); the cryptocurrency has been a rocket ship. Ethereum is up 466% YTD and an astounding 2,100% over the last year.<\/p>\n
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While Copper has had a stellar 1 year return of 100%, the Global X Copper Miners ETF (NYSE:COPX) is up 210%. While certain copper miners have done significantly better over the last year: Freeport McMoran (NYSE:FCX) is up 390% and Sierra Metals (NYSE:SMTS, TSX:SMT) is up 356%.<\/p>\n
Gold miners have performed inline with the metal on a 1 year and 5 year basis.\u00a0 Among the large cap gold miners Barrick Gold has been a laggard over the last year; down -12% vs. the peer group up 7% (Vaneck Gold Miners – NYSE:GDX).<\/p>\n
Silver miners have been structural underperformers, the Global X Silver Miners ETF (NYSE:SIL) is underperforming silver across all time frames – 1, 3 and 5 years. This is a sector that Capital 10X will be doing a deep dive on to understand what stocks are poised for a sizable valuation re-rating.<\/p>\n
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<\/p>\n","protected":false},"excerpt":{"rendered":"
The Capital 10X Commodity & ETF Navigator analyzes performance of major commodity groups: Green Metals, Precious Metals, Energy and Soft Commodities.<\/p>\n","protected":false},"author":7,"featured_media":23195,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1755,59],"tags":[76,212,211,1600,1521,1815,1816,104,891,1688,168,1725,190,846,848,847,1267,893,1817],"class_list":{"0":"post-23194","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-growth_navigator","8":"category-metals","9":"tag-copper","10":"tag-fcx","11":"tag-freeport-mcmoran","12":"tag-gdx","13":"tag-gdxj","14":"tag-global-x-copper","15":"tag-global-x-silver","16":"tag-gold","17":"tag-lithium","18":"tag-lumber","19":"tag-natural-gas","20":"tag-nysesmts","21":"tag-oil","22":"tag-sierra-metals","23":"tag-silver","24":"tag-smt","25":"tag-smts","26":"tag-vanadium","27":"tag-vaneck-gold-miners"},"acf":[],"yoast_head":"\n