Long-suffering commodity markets may have turned a corner after a pandemic-induced collapse in 2020. What happens next may depend on the fate of the U.S. dollar.
“The only way to get commodities moving in an inflationary, buying power way is a weaker dollar,” said Doug King, head of RCMA’s Merchant Commodity Fund and one of the world’s best known commodity traders, in an interview with MarketWatch.
And a glide path to a weaker dollar does indeed appear to be in place, King said.
2020 was a messy and volatile year for commodities, as it was for other assets. But commodities are coming off a long stretch of weakness after a China-fueled commodity boom — part of what some…