Oil prices are surging, with gold, silver, copper, platinum, palladium, and other metals also climbing. Natural gas has reached a two-year high, and agricultural commodities are steadily gaining ground. Breakeven rates continue to rise as well.

It’s clear that inflation is picking up speed, even as the Fed searches for reasons to proceed with further rate cuts.

The combination of rising consumer prices and a financially repressed environment creates an ideal scenario for hard assets to thrive in my view.