UBS Predicts Continued Commodity Price Gains Amid Iran Conflict
UBS commodity analyst Giovanni Staunovo has reported that the ongoing U.S.-Iran negotiations are a major driver of commodity markets, with volatility expected to remain high. Despite geopolitical risks, the fundamentals for commodities such as oil, gold, and base metals remain strong. Staunovo noted that oil product inventories are running low, which could necessitate higher prices to ration demand. Additionally, gold prices are expected to rise amid global debt burdens and fiscal deficits in the U.S. UBS continues to favor commodities in 2026, emphasizing active management to navigate market fluctuations.