Here is what MS said about the commodities themselves yesterday:

 

"Copper: Underpinned by China restocking demand and sentiment drivers around COP26 and infrastructure stimulus, but supply growth drives surplus in 2022-23. Long-term structural demand story remains intact. 

 

Gold: Higher rates partly priced in but our economists call for further increases as asset purchase tapering starts, driving a stronger USD and weighing on the gold price."