IG releases 2026 commodity outlook: gold rally expected to continue, gold rally expected to continue

PANews, December 23 – IG market analysts Farah Mourad and Ye Weiwen released their 2026 commodity outlook report, pointing out that the precious metals and energy markets will continue to diverge:

• Gold: Benefiting from declining real yields, high government spending, and continued central bank demand for gold, the upward trend in gold prices is expected to continue. Major investment banks forecast a gold price range of $4,500–$4,700 in 2026, and under favorable macro conditions, it may break through $5,000.

• Silver: After surging 120% in 2025, silver has entered a price discovery phase. With supply in deficit for the fifth consecutive year and accelerating industrial demand, the target price is expected to break through $65, with technical models pointing to $72 or even $88.

• Energy: The oil market is under pressure as supply growth far outpaces demand. The average price of Brent crude oil in 2026 is expected to be $62.23, and WTI crude oil is expected to average $59. JPMorgan warns that if the supply glut worsens, Brent crude prices could fall to the $30 range.

The report points out that the precious metals sector is driven by real macro demand and has long-term structural support, while the energy market faces structural downward pressure, with geopolitical risks potentially limiting the downside for oil prices.