Market analysts are evaluating whether a surge in gold, silver, and copper prices signals the start of a new commodities supercycle.
This shift toward tangible assets comes as investors react to geopolitical instability, inflation, and the impact of artificial intelligence on the labor market. The movement suggests a broader hedge against traditional financial volatility.
Gnanasekar Thiagarajan, co-founder and CEO of Commtrendz, said these trends during an interview with Manisha Gupta at the CNBC TV18 Prime studio. Thiagarajan said that expectations of interest rate cuts, weak jobs data, and inflation are driving investors toward commodities. He also said AI-related job losses are a factor shifting capital into hard assets.
Recent historical data shows significant volatility in precious metals. In 2026, gold rose 70% [3], while silver more than doubled in value [4]. Other reports indicate gold grew by more than 60% [1] and silver surged over 150% [2] during that same year.
However, the trend has faced recent headwinds. Gold has dropped 11% since the start of the war in Iran in 2026 [5]. This decline occurs despite the traditional role of gold as a safe-haven asset during wartime.
Beyond precious metals, copper has also seen a major rally. Analysts said the intersection of energy transitions and industrial demand is a primary driver for base metals. Geopolitics continue to exert a heavy influence on crude oil prices, adding to the complexity of the current commodities landscape.
Thiagarajan said the combination of these factors creates a unique environment for commodities. The transition toward a supercycle would imply a long-term period of rising prices driven by structural demand rather than temporary speculation.
“Gold rose 70% in 2026”
The tension between massive 2026 gains and the 2026 dip in gold prices highlights a volatile transition period for investors. While macroeconomic factors like AI-driven unemployment and inflation push capital toward commodities, immediate geopolitical shocks—such as the conflict in Iran—can create short-term price corrections even for safe-haven assets.
