Commodities in the Year of the Snake: Resilience Amid Realignment

WisdomTree’s Nitesh Shah analyzes how commodities are navigating trade shocks, geopolitics, and structural shifts in 2025.

• Gold resilience: Consolidating near $3,500/oz, gold remains a systemic hedge, with forecasts pointing toward $3,850 by Q2 2026 amid fiscal risks, geopolitical tensions, and a weaker dollar.

• Industrial metals: Tariffs disrupt flows, but long-term demand from energy transition, defense rearmament, and AI infrastructure sustains bullish fundamentals despite supply bottlenecks.

• Energy volatility: OPEC+ unwinds cuts, driving short-lived oil swings, yet Brent remains capped at $60–70/barrel.

Explore the full outlook to see how scarcity, security, and strategy are reshaping commodities in a fragmented global system.