Commodities continues to gather steam with the Bloomberg Commodity Spot index rising for the fifth straight week to reach its highest level since 2011. Spurred on by multiple factors from a vaccine-led rebound in global growth, transportation bottlenecks crimping supplies, weather concerns in key growing regions along with rising inflation concerns and a speculative frenzy triggering increased investment demand.

All the major commodities traded higher this past week led by iron ore, Arabica, coffee, Corn, and Lumbar. Metals of all colours rallied as well with copper reaching a record high while gold, supported by silver, managed to break above $1800. The energy sector came bottom with Crude Oil, rightfully so, struggling to break higher with virus outbreaks in Asia creating a very uneven demand recovery.