IG releases 2026 Commodities Outlook: Gold rally expected to continue.

PANews reported on December 23 that IG market analysts Farah Mourad and Ye Weiwen released their 2026 Commodities Outlook report, indicating that the precious metals and energy markets will continue to diverge:

• Gold: Benefiting from declining real yields, high government spending, and continued central bank gold purchases, gold's upward trend is expected to continue. Major investment banks predict that gold prices will range from $4,500 to $4,700 in 2026, and may break through $5,000 under favorable macroeconomic conditions.

• Silver: After surging 120% in 2025, silver has entered a price exploration phase. With supply shortages 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 due to supply growth far exceeding demand, with Brent crude expected to average $62.23 and WTI crude average $59 in 2026. JPMorgan Chase warns that Brent crude prices could fall to the $30 range if the supply glut worsens.

The report points out that the precious metals sector is driven by real macroeconomic demand and has long-term structural support; while the energy market faces structural downward pressure, and geopolitical risks may limit the decline in oil prices.