Analysts Highlight Top Commodities to Watch for Investment in 2026

Analysts Point to Key Commodities for Investment in 2026

Financial analysts expect shifting demand in global markets to drive investment opportunities in commodities such as precious metals, energy metals, and agricultural products in 2026. Industry experts cite factors including the ongoing energy transition, supply constraints, and economic recovery as contributing to price volatility and growth potential across various sectors.

Precious Metals Remain Strong Amid Uncertainty

Gold continues to attract investor interest, with analysts from UBS and Goldman Sachs projecting resilient prices through 2026. UBS’s June 2024 outlook forecasts gold averaging above $2,200 per ounce in 2026, citing persistent central bank demand and geopolitical uncertainties. Silver is also expected to benefit from its dual role as a monetary and industrial metal, particularly as clean energy applications expand.

Energy Metals Gain Spotlight from Green Transition

Demand for energy transition metals is projected to rise as global economies pursue decarbonization targets. Benchmark Mineral Intelligence highlights lithium, nickel, and cobalt as critical to electric vehicle (EV) battery production. According to Wood Mackenzie, global lithium demand could exceed 1.5 million tonnes by 2026, driven by surging EV sales and ongoing battery innovation. Copper, a key conductor in power infrastructure, is forecast to see “structural deficits” by 2026, according to S&P Global.

Agricultural Commodities Face Supply Challenges

Weather volatility and ongoing geopolitical tensions are expected to impact agricultural markets. The Food and Agriculture Organization forecasts persistent tightness in wheat and corn supplies, as extreme weather events and trade disruptions continue to affect key exporting regions. Analysts at Rabobank note that soybean and coffee prices may see higher volatility, with shifting weather cycles and changing demand from emerging markets playing major roles.

Oil and Gas Outlook Mixed as Transition Continues

Fossil fuel markets face uncertainty as investment shifts toward renewables. OPEC’s World Oil Outlook anticipates global oil demand will remain robust through mid-decade before plateauing. However, the International Energy Agency notes that investment shortfalls could trigger price swings, particularly if supply disruptions occur. Natural gas is expected to play a transitional role, with Asian demand underpinning near-term price support.

Investment Strategies and Risks

Industry strategists caution that commodities remain subject to geopolitical risk, policy shifts, and supply chain disruptions. Diversification and exposure to physical assets and related equities are common approaches cited by BlackRock and JPMorgan Asset Management. “Commodities are likely to provide both opportunity and volatility in the coming years,” said a JPMorgan commodities analyst.

• Metals: Gold, lithium, copper, nickel
• Agriculture: Wheat, soybeans, coffee
• Energy: Oil, natural gas, battery metals

Analysts emphasize careful monitoring of global economic indicators, supply trends, and government policies as crucial for navigating commodity investment in 2026.