Since the start of 2022, commodities have become the hottest topic in finance. The trend, primarily driven by the energy sector, agriculture, and in industrial metals, has begun to cause a stir elsewhere across global markets. Changes in the situation with significant geopolitical commodities like oil and gold have put pressure on fiat currencies. Rising inflation impacted by these commodities is even causing the stock market to suffer. Their importance within the global economy has never been more apparent.
Read on to find out why PrimeXBT is the best platform to get exposure to each of the most critical hot and trending commodities on the market today.
Pandemic Creates Conditions For Unprecedented Supply Shock
The supply shock that is causing widespread inflation and runaway prices in commodities has been in the process for more than two years. It began at first when the COVID pandemic introduced lockdown measures and shut down productivity across the globe.
The butterfly effect first kept people home from their jobs, but later the Great Resignation, the side gig economy, and more have further disrupted typical economic turnaround. Bottlenecks in container ships globally have further prevented goods from reaching store shelves, while consumers buy up even high-priced luxury goods at an unprecedented rate.
The result is less raw materials, and due to the laws of supply and demand, because the demand has only increased while supply has diminished, the cost must increase to accommodate this discrepancy until equilibrium returns.
In the meantime, consumers are forced to pay the highest increase in prices in more than 41 years. There is also no end in sight with lockdowns continuing in major economic cities like Shanghai.
Consumer Price Index And Skyrocketing Commodities In All Sectors
The Consumer Price Index reached the highest rate since the early 1980s. During the climb, crude oil prices revisited a high not seen since the Great Recession of 2008. Oil prices have become an essential topic of conversation with consumers, in the media, and in politics.
An ongoing war between Russia and Ukraine and related sanctions have shaken up the oil industry and the hegemony of the petrodollar. Russia is seeking to exchange its oil supplies for rubles, gold, or Bitcoin. Meanwhile, Saudi Arabia is considering selling its oil for the Chinese yuan rather than the dollar.
All across the globe, gas prices are reaching extremes and becoming unaffordable for many. Due to related transportation costs and the price of fertilizer and agricultural supplies also skyrocketing, food prices are also soaring.
Industrial base metals have followed a similar trend, with precious metals also suddenly shining again in recent months. These scarce assets and their related mining industries could continue to grow into the future as supply chains stay disrupted and the economic situation turns more dire.
PrimeXBT Prepares Investors And Traders For New Economic Environment
Considering all of these factors, it is clear that commodities and metals, in particular, are where the profits are in the future. The days of the stock market making steady gains are now on shaky ground. Safe haven assets like gold and silver also have a bright future in the new economic conditions. Cryptocurrencies like Bitcoin also may prove successful as a hedge against inflation if the asset class can break its correlation with stocks.
All of these most important global markets today are available under just one roof and from a single, secure account with the award-winning margin trading platform PrimeXBT. In addition to Brent and crude oil, natural gas, gold, and silver, PrimeXBT also offers a massive list of cryptocurrencies, stock indices, and major, minor, and exotic forex currency pairs. The list of crypto assets includes Bitcoin, Ethereum, plus altcoins from the GameFi, Metaverse, or memecoin segments. More than 100 trading instruments are available to trade with long and short positions using leverage.
PrimeXBT also provides users with a wide range of cryptocurrency-based products and services. For example, the Covesting copy trading module lets users follow strategy managers and copy their trades. Strategy managers are ranked by performance, so followers know exactly who to put their capital behind. This peer-to-peer trading community cannot be found anywhere else.
There are also APY-generating yield accounts, 24/7 live customer support chat, a free mobile app for Android and iOS smartphones, and so much more. Using the powerful tools provided by PrimeXBT, anyone can take advantage of the currently trending commodities and make money from this unprecedented market volatility.
Don’t Miss The Hottest Trends Today, Trade At PrimeXBT
It is clear to see that PrimeXBT is a hot commodity itself – a rare platform that is able to pack in so much value under just one roof. Before it is too late to take advantage of the blazing trend in energy, food, metals, and more, register for a free PrimeXBT margin trading account and gain exposure to it all from a single, award-winning account.
Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice
Source: https://cryptodaily.co.uk/2022/04/hot-commodity-primexbt-provides-exposure-to-the-most-popular-assets-today