Digging the Dirt – Bloomberg Intelligence’s Monthly Metals Call: BI Replay

BI's Jan. 29 Metals & Mining Exchange featured analysts Grant Sporre, Alon Olsha and Mike McGlone. With many commodities still in a bear market, metals stand out. The team examined whether gold, silver and copper were entering a late-cycle momentum extension, and whether momentum could keep gold above $5,000 an ounce and silver over $100. They also discussed how parabolic rallies can reset supply-demand deficits. On copper, the team assessed whether supply-demand fundamentals warranted prevailing prices. Also under discussion were the outlook for the diversified miners and whether record copper prices could turbo-charge M&A. The team’s top metal predictions for 2026 were also spotlighted.