In traditional finance, there is a well-known pattern of capital rotation in liquidity cycles:

Precious metals (gold and silver) Industrial ➡️ metals ➡️ Energy ➡️ agriculture
This is basically a relay of asset bubbles
(1) Gold and silver
When uncertainty rises and expectations of interest rate cuts increase, funds flow to safe assets first. This is why precious metals are often the earliest signals.
(2) Copper and aluminum
Often referred to as "Dr. Copper". When these two metals start to rise, it means that the market is pricing in actual commercial use and infrastructure needs. At this point, market sentiment shifts from risk-off to risk-taking.
(3) Oil and gas
As economic growth accelerates, so does energy demand. Supply constraints will further exacerbate this trend. This usually occurs in the middle of an economic cycle.
(4) Agriculture
Rising energy and logistics costs will eventually be reflected in retail prices. Agriculture is often an industry that keeps up with the situation later in the economic cycle.