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Macro Voices
MacroVoices #442 Ole Hansen: Year of The Metals
Aug 22, 2024
Ole Hansen, a commodities expert, offers insights into the current landscape of precious metals, uranium, energy, and agriculture. He explains the ongoing correction in the commodity supercycle and discusses the implications of market dynamics, including supply-demand shifts and the impact of electric vehicles. Hansen also dives into the speculative aspects affecting copper and uranium prices, and analyzes recent trends in crude oil inventory. He concludes with an outlook on potential bottom formations in key commodities, enriching the understanding of market signals.
01:02:04
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Quick takeaways
- The podcast discusses the resilient performance of gold amidst inflation and political uncertainty, indicating a sustained bullish sentiment for its prices.
- Ole Hansen emphasizes the crucial role of advanced nuclear technologies in the global transition to clean energy, advocating for public understanding and government support.
Deep dives
Outlook on Commodities
The current outlook for commodities indicates a slowdown in the market following a significant correction in the commodity supercycle. The Bloomberg Commodity Index remains unchanged for the year, highlighting a stark contrast with earlier momentum witnessed during the first quarter. Precious metals such as gold continue to show resilience with record highs, while agricultural commodities reveal substantial price disparities due to differing weather conditions across the northern and southern hemispheres. Overall, while some sectors appear stable, the commodity market is navigating through uncertainty driven by responses to demand and geopolitical factors.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode