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Otavio (Tavi) Costa, portfolio manager at Crescat Capital, highlights that agricultural commodities have decisively broken above nearly 20 years of resistance.
Costa observes this development occurring as diesel prices approach all-time highs, mortgage rates remain near 7 percent and housing affordability worsens, while wealth inequality stays close to historic levels.
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Costa has previously commented on other commodity markets in recent months. He noted silver approaching $70 per ounce during a marked increase in prices in May here. Earlier, he identified a significant closing of the monetary gap, emphasizing gold’s role as true money here.