The Commodity Exchange

Precious metals after the rally: what happens next? | The Commodity Exchange May 27, 2026 00:49:03 After another period of sharp rallies and sudden pullbacks, precious metals are once again commanding investor attention. But while gold and silver may be seen as safe havens, recent market moves have shown they are not immune to volatility.In this episode of The Commodity Exchange, we speak with James Steel, Chief Precious Metals Analyst at HSBC, about what is driving gold, silver, platinum and p

Oil, gold and commodities after the Strait of Hormuz shock | The Commodity Exchange May 11, 2026 00:57:08 A few weeks ago, hardly anyone was talking about the Strait of Hormuz. Now, it's at the centre of global markets.In this episode of The Commodity Exchange, we break down what the Middle East conflict means for commodities and the global economy. From oil and gold to industrial metals and agriculture, the ripple effects are now spreading across markets worldwide.

Oil, geopolitics, and the next commodity supercycle | The Commodity Exchange Mar 31, 2026 00:43:09 In this episode of The Commodity Exchange, Nitesh Shah is joined by Josef Schachter of the Schachter Energy Report to unpack the recent volatility in oil prices and what it means for investors. They discuss supply dynamics, strategic reserves, and how geopolitical tensions are shaping short-term price movements.Beyond the headlines, the conversation expands into a broader view of commodities, from

Strategic or tactical? The structural case for commodities | The Commodity Exchange Mar 2, 2026 00:52:22 In this episode of The Commodity Exchange, Nitesh Shah is joined by Tobias Lazar to explore the strategic role of commodities. They discuss diversification, inflation protection, the US dollar effect, and where we are in the economic cycle. They also explain how commodity indices are constructed, why futures curve positioning matters, and how next-generation strategies aim to reduce roll drag and

When safe havens test conviction: gold rising, silver swinging | The Commodity Exchange Feb 9, 2026 00:31:55 Gold is climbing steadily. Silver is spiking and sliding. In this episode of The Commodity Exchange, host Nitesh Shah speaks with Philip Newman, Managing Director at Metals Focus, to unpack the forces driving recent moves in the precious metals market. They discuss silver’s wild volatility, tariff-driven flows, ETF positioning, and why central banks and retail investors are still backing gold. Thi

What if the true driver of global prosperity is buried underground? | The Commodity Exchange Nov 28, 2025 00:31:42 We often credit innovation, finance or technology for powering the modern world. But what if the real story starts deeper underground? In this episode of The Commodity Exchange, host Nitesh Shah speaks with Scott Crooks, Principal Analyst at Codelco, to explore how metals like copper, steel and nickel have shaped the rise of nations and continue to drive global power dynamics. From the industrial

Gold’s hot. Silver’s rallying. What next for precious metals? | The Commodity Exchange Oct 17, 2025 00:40:51 Gold is above $4,000. Silver is up over 75% year-to-date. Even platinum and palladium are surging. In this episode of The Commodity Exchange, hosts Mobeen Tahir and Nitesh Shah break down the precious metals rally and WisdomTree’s latest gold outlook. They explore what’s driving prices higher—from dollar depreciation and rate cuts, to policy risk, tariffs, and Fed credibility. Nitesh also shares u

Commodities in a realigning world: tariffs, tensions, and tailwinds | The Commodity Exchange Sep 19, 2025 00:45:05 Commodities are no longer a sideshow—they’re the story. In this episode of The Commodity Exchange, hosts Mobeen Tahir and Nitesh Shah discuss WisdomTree’s latest outlook and break down what’s driving markets in 2025. From record gold prices, copper volatility, and oil’s OPEC dynamics, to the impact of tariffs, central banks, and a softening dollar, they unpack the macro and geopolitical forces res

Inside platinum’s rally: supply deficits, tariffs, and Chinese demand | The Commodity Exchange Aug 22, 2025 00:32:16 Platinum has been one of the strongest-performing precious metals of 2025, with prices rising nearly 50% year-to-date. But what’s driving the rally? In this episode of The Commodity Exchange, host Nitesh Shah speaks with Wilma Swarts, Director of Platinum Group Metals at Metals Focus, to unpack the key forces behind platinum’s breakout. They explore the impact of supply constraints, the role of Ch

Risk on the rise: how conflict, tariffs and deficits are moving commodities | The Commodity Exchange Jul 10, 2025 00:47:06 From Middle East tensions to the looming return of trade wars, commodities are once again in the spotlight. In this episode of The Commodity Exchange, hosts Mobeen Tahir and Nitesh Shah break down the complex drivers shaping global markets—from oil’s reaction to geopolitical flare-ups, to gold’s resilience in the face of uncertainty, and the surprising strength in platinum, silver, and copper. The

Precious metals in 2025: gold steady, silver lags, platinum breaks out | The Commodity Exchange Jun 11, 2025 00:56:47 Precious metals are taking centre stage in 2025—but not all are moving in sync. In this episode of The Commodity Exchange, hosts Mobeen Tahir and Nitesh Shah explore what’s driving gold’s continued strength, silver’s surprising lag, and platinum’s recent breakout. They also discuss broader market dynamics including OPEC’s shifting oil strategy, the impact of tariffs on copper and industrial metals

Gold’s surge, silver’s potential, and copper’s comeback | The Commodity Exchange May 19, 2025 00:55:10 Gold has broken records and it may not be done yet. In this episode of The Commodity Exchange, hosts Mobeen Tahir and Nitesh Shah unpack what’s driving the gold rally and explore the potential for it to hit $4,000 or even beyond, depending on how macroeconomic and geopolitical scenarios evolve. But it’s not just about gold. Silver may be poised for a catch-up rally, copper is proving more resilien

More than metals: Mining’s new role in community impact | The Commodity Exchange Apr 30, 2025 00:44:47 Mining is no longer just about extraction—it’s about creating lasting value for local communities. In this episode of The Commodity Exchange, host Nitesh Shah is joined by Dr. Ingrid Putkonen, Founder and Managing Director of Metals for Humanity, to explore how mining companies are rethinking their role in society. From using silver to improve access to clean water to building traceable supply cha

Powering the future: why rising electricity demand could drive a new commodities boom | The Commodity Exchange Mar 21, 2025 00:36:49 As data centers, electrification, and AI drive electricity demand to new highs, what does this mean for commodities? In this episode of The Commodity Exchange, host Nitesh Shah is joined by James Whiteside of Wood Mackenzie to explore how the energy transition, data centre expansion, and growing EV adoption are reshaping the demand for key resources. From copper and lithium to rare earths and alum

Biting back: The commodities set to thrive in the Year of the Snake | The Commodity Exchange Mar 6, 2025 00:44:47 Commodity markets are facing headwinds from rising bond yields, a strong dollar, trade wars, and China’s economic slowdown—but not all assets will struggle. In this episode of The Commodity Exchange, Mobeen Tahir and Nitesh Shah explore which commodities are set to thrive despite the risks. From gold’s surprising resilience to silver’s breakout potential and the energy transition fuelling demand f

Gold at all-time highs: what’s driving the surge? | The Commodity Exchange Feb 21, 2025 00:55:30 Gold has reached record highs in 2025, but what’s fuelling the rally? In this episode of The Commodity Exchange, host Nitesh Shah speaks with James Steel, Chief Precious Metals Analyst at HSBC, to break down the key drivers behind gold’s latest surge. From central bank demand to shifting geopolitical risks, they explore why investors are turning to gold despite rising bond yields and a strong U.S.

From fire to foresight: Energy market predictions for the Year of the Snake | The Commodity Exchange Jan 31, 2025 00:48:16 In this episode of The Commodity Exchange, Nitesh hosts Aldo Spanjer, Senior Commodity Strategist at BNP Paribas, to explore the intricate dynamics of the oil and gas markets as we transition from the Year of the Dragon to the Year of the Snake. Reflecting on a year that ended with a surprising rally in energy prices, Aldo discusses the impact of geopolitical tensions, including the Middle East co

Platinum: Supply, demand, and market dynamics | The Commodity Exchange Dec 10, 2024 00:47:30 In this episode of The Commodity Exchange, Nitesh and Mobeen discuss the current state and future outlook of platinum with Edward Sterck from the World Platinum Investment Council. They explore the fascinating dynamics of platinum as a commodity, including supply constraints, demand from the automotive sector, the role of hydrogen, and the impact of geopolitical factors such as the Russia-Ukraine

President Trump's victory and its ripple effects on commodities | The Commodity Exchange Nov 19, 2024 00:41:42 In this episode of The Commodity Exchange, Nitesh and Mobeen are joined by Judith Henke, Editor, Investment and Markets team, Handelsblatt. Together they discuss the outcome of the US elections and the effect President Trump's victory has had across commodity markets. You can follow our panellists on Twitter at: Nitesh: https://twitter.com/NiteshShahWT Mobeen: https://twitter.com/MobeenTahirWT

Commodity outlook: Navigating the precious metals surge | The Commodity Exchange Oct 15, 2024 00:55:50 In this episode of The Commodity Exchange, join Nitesh and Mobeen as they delve into the latest trends and insights in the commodity markets. In this episode, they explore the surge in precious metals, driven by geopolitical tensions, central bank policies, and investor sentiment. Discover why gold and silver are shining bright and what the future holds for these valuable assets. The discussion al

The complex path to clean energy with Gerard Reid from Alexa Capital Sep 12, 2024 00:39:36 Gerard Reid, co-founder and partner at Alexa Capital, discusses the energy transition and its investment opportunities. He highlights the importance of identifying and financing promising technologies in order to drive the transition. Reed emphasizes the complexity of the energy transition and the need for education and independent views. He believes that the energy transition is a revolution rath

The Commodity Exchange: The material limits of our energy future Jul 24, 2024 00:42:36 Is the energy transition sustainable? On this episode of The Commodity Exchange, Nitesh and Mobeen are joined by Marcel Gauch from EMPA as he delves into the sustainability of our energy transition. Discover the challenges of using finite resources, the potential of abundant materials like silicon, and the future of renewable technologies. Explore the role of batteries, hydrogen fuel, and biofuels

The Commodity Exchange: Golden sentiments - Navigating the shifting currents of oil and commodity markets Jun 28, 2024 00:42:33 Join Nitesh and Mobeen as they explore the impact of investor sentiment on commodities with special guest Warren Pies, founder of 3Fourteen Research. Discover a data-driven perspective on oil and gold, the influence of the Federal Reserve’s policies, and the strategic moves of central banks and OPEC+. This episode offers a succinct analysis of market regimes, climate change effects on energy commo

The Commodity Exchange: The everything rally begins May 30, 2024 00:42:18 Commodities have been experiencing a rally across all sectors, driven by positive action and big picture forces. In this episode of The Commodity Exchange, Nitesh and Mobeen discuss the recent rally in commodities, covering precious metals, energy, industrial metals, and agriculture. They discuss the rally in gold and silver, the role of central banks and China in driving demand, and the potential

The Commodity Exchange: Geopolitics, market trends and platinum perspectives Apr 25, 2024 00:47:55 In this episode of The Commodity Exchange, Nitesh and Mobeen are joined by Edward Sterck, Director of Research, World Platinum Investment Council. Together they delve into the fascinating world of platinum. From exploring its cyclical and structural narratives to dissecting recent Middle East tensions’ impact on commodities, this podcast covers it all. Join the conversation as they discuss record

The Commodity Exchange: The macro backdrop for commodities Mar 26, 2024 00:50:47 In the first half of this Episode of The Commodity Exchange, Nitesh and Mobeen are joined by Nick Stadmiller, head of product at Medley Advisors. Together they discuss key macroeconomic topics related to commodity markets. The conversation covers central bank activity, the polarization of central banks, expectations from the Fed, risks of surprises, the ECB's timing and actions, China's ec

The Commodity Exchange: Exploring the Energy Transition with Steven Knell and Aneeka Gupta Feb 27, 2024 00:52:13 In this episode of The Commodity Exchange, Nitesh is joined by Steven Knell, Head of Power and Renewables, Wood Mackenzie and Aneeka Gupta, Director, Macroeconomic Research, WisdomTree. Their conversation explores the ongoing energy transition and its implications. They discuss the challenges and opportunities in the transition from fossil fuels to low-carbon energies, the role of strategic metals

The Commodity Exchange: Will gold move to new highs this year? Jan 30, 2024 00:41:41 In this episode of the Commodity Exchange podcast, Nitesh Shah interviews Philip Newman, Managing Director and Founder at Metals Focus, about the factors influencing gold and silver prices. They discuss the record highs in gold prices in December 2023, driven by geopolitical issues and rate cut expectations. They also explore the trends in central bank gold demand, the retail market, and the behav

The Commodity Exchange: Outlook for 2024 Nov 29, 2023 00:30:46 In this episode of The Commodity Exchange, Nitesh and Mobeen get together to discuss the outlook for 2024 after an eventful 2023 for commodity markets. (00:00) Intro and disclaimer (01:46) Are commodities a late cycle performer? (04:32) Will 2024 also be a good year for defensive commodities? (09:47) China's economic outlook for next year (16:38) Evolving production challenges the world faces

The Commodity Exchange: Metals - Recent Challenges and Potential Investment Opportunities Nov 13, 2023 00:40:09 In this episode of The Commodity Exchange, Nitesh and Mobeen are joined by Max Layton, Global Head of Commodities Strategy at Citi. Together they discuss the challenges the metals sector has faced so far in 2023 and they explore when and how we might see the fortunes of this commodity sector becoming brighter again. (00:00) Intro and Disclaimer (01:44) The precious metals sector (12:17) Base meta

The Commodity Exchange: "Are we in a late economic cycle?" with Warren Pies Sep 29, 2023 00:44:03 In this episode, Nitesh is joined by Warren Pies, Co-Founder & Strategist, 3Fourteen Research. Together they discuss what a late economic cycle entails and what it means for asset allocation. (00:00) Intro and Disclaimer (01:13) Meet Warren (02:22) What is a late economic cycle? What is the evidence for one at this point in time? (14:39) Are we are in restrictive Fed policy territory yet? (1

The Commodity Exchange: Agricultural Commodities with Aneeka Gupta Aug 29, 2023 00:36:13 In this episode of The Commodity Exchange, Mobeen is joined by Aneeka Gupta, Director, Macroeconomic Research, WisdomTree. Together they discuss how the realm of modern finance intersects with the sphere of agriculture. Learn about agricultural commodities and gain insights into how investors navigate this asset class in this episode. (00:00) Intro and Disclaimer (01:54) Meet Aneeka (04:02) Why d

The Commodity Exchange: "A Turning Point in Commodities?" with Ole Hansen Aug 1, 2023 00:38:53 In this episode of The Commodity Exchange, Nitesh and Mobeen are joined by Ole Hanse, Head of Commodity Strategy at Saxo Bank. Together they debate whether we are at a turning point in commodities after central bank hawkishness created headwinds for the asset class this year. (00:00) Intro (00:55) Disclaimer (01:31) Meet Ole (04:05) What big trends are we currently seeing? (07:43) Are we reaching

The Commodity Exchange: Energy and Industrial Metals Jul 4, 2023 00:30:45 This week, Nitesh and Mobeen are joined by Francisco Blanch, Managing Director, Head of Global Economics and Derivatives research at Bank of America Securities. Together they discuss what common threads weave together the fate of energy and industrial metals and what forces might drive them apart in the future. (00:00) Intro and Disclaimer (01:51) Market recap (04:40) Current positioning in oil

The Commodity Exchange: Discussing Gold and Precious Metals with James Steel Jun 9, 2023 00:42:58 This week, Nitesh is joined by James Steel, Chief Precious Metals Analyst at HSBC. Together they discuss all things gold and precious metals. (00:00) Introduction and disclaimer (02:00) Market recap (04:35) Who are gold investors? (08:53) The relationship between Gold and real rates (12:40) The US Debt Deal - How will it affect gold? (18:45) Background on James Steel and analysing the market

The Commodity Exchange: Investing in Gold May 10, 2023 00:50:53 People have been investing in gold for thousands of years. Other asset classes have emerged, ownership structures have evolved, but the notion of holding physical gold as a store of wealth has endured the test of time. What is it about this commodity that still appeals to investors today? And how can we model its price behaviour? All of this and more in this episode of the commodity exchange. You

The Next Big Thing: A Megatrends Podcast Apr 18, 2023 01:03:01 WisdomTree have launched another podcast series, The Next Big Thing. Megatrends are changing our world. We’ve seen the internet and smartphones transform our lives and, more recently, have seen artificial intelligence touted as ‘the next big thing’, with the emergence of software like ChatGPT. So, what’s next? Listen now: https://open.spotify.com/show/71J5oczUPwL4AO7Gvml5Vk https://podcasts.apple

The Commodity Exchange: Cyclical Pressures vs Structural Strengths Apr 11, 2023 00:36:41 Welcome to the first episode of our new podcast The Commodity Exchange, a podcast for those looking to make sense of the landscape, and understand the key drivers behind prices. Since the Covid-induced market crash at the start of 2020, commodities have had a strong run. This has encouraged many people to wonder if we are in a commodity supercycle. Are we in a supercycle? What cyclical and struct

Introducing The Commodity Exchange Apr 1, 2023 00:01:07 Commodities can be impacted by a whole host of factors, from geopolitical risk to climate change. For those looking to make sense of the landscape, and understand the key drivers behind prices, our podcast offers insights and academic discussion from Europe’s leading commodity exchange-traded fund provider.

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