At the same time, crude oil has surged on geopolitical tensions, while copper continues to navigate a complex mix of AI-led demand, tariff uncertainty and supply disruptions.
So, how should investors approach commodities in an increasingly divergent market?
In this edition of ETMarkets Smart Talk, Saish Sawant, Research Analyst–Commodities at Emkay Global Financial Services, breaks down the contrasting moves across gold, crude and copper.
He explains why gold could continue to serve as portfolio ballast, why silver offers a higher-beta growth opportunity, and why retail investors may be better off avoiding industrial commodities as part of their core portfolio.
We also discuss the outlook for gold after its sharp correction, the impact of interest rates and geopolitics on commodity prices, and the biggest mistakes investors should avoid when chasing a rally or buying the dip. Edited Excerpts –
Q) October has been a month of sharp divergence across commodities. What has been the biggest driver behind the contrasting moves in gold, crude oil and copper?
A) The common thread is the Middle East conflict, but each market is pricing the…