Commodity Supercycle 2.0? Why the Nov 2025 Rally Is Different From 2007-2008

The commodity complex is stirring. Gold hit $4,218 this month. Silver just hit all-time highs. Copper is rallying on AI infrastructure demand. Oil is flat-lining. Agricultural commodities are barely moving.

This looks superficially like the early stages of another supercycle boom. It isn’t. Here’s the technical and fundamental case for why commodities wi…