Last week, President Biden announced his ambitious $1 trillion Green Energy and Infrastructure spending plan, to transform the U.S. economy.
The $1.2 trillion Infrastructure package will involve pumping hundreds of billions of dollars into improving the nation’s aging roads, bridges, railways, airports, power grid, internet services and cellular network.
Biden’s massive Green Energy and Infrastructure spending boom, ultimately means that the U.S is going to need more commodities – And lots of them.
Looking ahead to this week, the biggest market-moving events that traders will be closely for clues on the markets next big move include; June’s Non-Farm Payrolls Data, ISM manufacturing PMI, CB Consumer Confidence Data and the impact of the Basel III agreement on precious metal prices – as Gold becomes reclassified from a Tier 3 asset to a Tier 1 asset.
Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions: