📊 Commodities Are Tiny
That’s The Opportunity
Look at the scale:
• US Equities: $72T
• US Treasuries: $25T
Now compare:
• Oil open interest: $549B
• #Gold: $199B
• #Copper: $190B
• #Silver: $51B
Most commodity markets are sub-$500B.
That means something important.
It doesn’t take massive capital flows to move prices.
A small reallocation from bonds or equities into #commodities can create outsized price impact.
In a world of:
• #Energy. transition
• Re-industrialization
• Geopolitical fragmentation
• Supply constraints
The asset class is structurally small relative to financial markets.
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