When this cycle first got underway back in March 2024, as Gold kicked off a brand-new secular uptrend, leadership was incredibly narrow.
The metals complex dominated everything.
Precious metals, base metals, industrials… if it came out of the ground, it was working.
But that’s not how sustainable bull markets behave.
Instead, they expand, rotate, and pull more and more participants into the party.
And coming into 2026, that was our bet: leadership would rotate away from metals and into other areas of the commodity complex, namely energy and agriculture.
So far? That’s exactly what’s happening.
The cleanest way to see it is through one of our favorite intermarket ratios: agriculture versus base metals.
The agriculture $DBA versus base metals $DBB ratio has completed a textbook scoop-and-score reversal pattern, reclaiming a key shelf of former lows and pushing to fresh highs for the year.
This is what a decisive shift in leadership looks like.
Sure, in the very short term, this move might be a bit extended.
But zoom out, and it looks like the early innings of a brand new primary uptrend.
In other words, this isn’t the end of the move… It’s the beginning.
And if agriculture is going to continue outperforming base metals, then we want to be long the strongest trends within that group.
Gold Rush Report highlights the breakout setups, rotations, and technical signals shaping metals markets — giving traders an edge in gold, silver, and commodities.
