What is the story about?
Gold, Silver, and Copper 2026 Outlook: As 2026 begins amid persistent inflation, rising expectations of global rate cuts, and ongoing geopolitical uncertainty,
the focus of investors has decisively shifted toward commodities, especially precious and base metals. Market experts believe the world may be entering the next major phase of a metal supercycle, with gold, silver, and copper all competing for investor attention. However, the debate is no longer limited to how high gold can rise. The key questions now are whether silver can once again outperform gold and whether copper can reclaim its role as the global growth barometer, powered by demand from electric vehicles (EVs), artificial intelligence (AI), and green energy.
Gold: From safe haven to central bank favourite
Market participants highlight that gold has evolved beyond its traditional role as a safe-haven asset. It has now become a core strategic holding for central banks, providing long-term structural support.Nitin Kedia, Founder of Kedia Fincap, said, “For the first quarter of 2026, gold remains my preferred investment,” citing aggressive central bank buying, particularly by China, and the strategic silence of the US despite rising gold prices. According to experts, gold could benefit further if global rate cuts accelerate and geopolitical risks persist.
Silver: The star performer with dual demand
Silver emerged as the consensus outperformer among experts, driven by a powerful combination of investment demand and industrial consumption.Tarun Satsangi, Director at Armany, highlighted that silver has delivered its strongest rally since 1979, and the momentum may continue. He pointed to a deepening supply deficit, estimated at 200 million ounces in 2025 and potentially rising to 280–300 million ounces in 2026, marking the sixth consecutive year of shortage.
“Silver’s structural story remains extremely strong,” Satsangi said, citing growing demand from solar panels, EVs, and power infrastructure.
Ankit Kapoor, Founder of Commodities Samachar Securities, added that silver’s breakout above long-term resistance levels marks a multi-decade technical breakout. He believes silver could reach USD 90– USD 100 in the medium term, with long-term targets extending to USD 150 – USD 180 by 2030 – 2032.
Copper: Green energy growth proxy
Copper continues to attract attention as a critical input for the global energy transition. EVs, AI data centres, renewable power grids, and electrification are driving structural demand, while supply constraints remain a concern.Biren Vakil of Paradigm Commodities said copper has a strong structural bullish setup, projecting prices toward USD 13,500 to USD 14,050 on the LME over the coming quarters. Supply disruptions and declining mine grades could further tighten the market in 2026.
That said, some experts advised patience at current levels, suggesting staggered investments rather than aggressive buying after a sharp run-up.
Corrections unlikely to derail the bigger trend
While near-term volatility and profit booking are expected, most experts ruled out a major crash in metals for 2026. The outlook remains supported by:Expected global rate cuts
- Persistent supply deficits in silver
- Strategic central bank accumulation of gold
- Structural demand for copper from green technologies
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
