In 2026, geopolitical tensions and resource nationalism are pushing critical minerals and precious metals, such as gold and silver, to the forefront of global economic discussions, following record high prices in 2025. Analysts at Sprott indicate that deglobalization will heighten as nations prioritize sovereignty, leading to structural inflationary pressures and heightened focus on energy security.
Public debt in the US surpassed $38 trillion in 2025, doubling over the past decade, raising concerns over fiscal spending and leading to a shift towards hard assets away from fiat currencies. Additionally, supply chain disruptions are driving countries to stockpile essential minerals like rare earths and copper, which has resulted in localized shortages and price disparities, such as copper trading 30% higher in the US than in London.
Gold and silver’s bull markets are anticipated to continue as central banks, especially in China, increase their bullion purchases to diversify away from the dollar amid ongoing geopolitical risks. Other minerals like uranium, copper, and rare earth elements are also gaining momentum, driven by strong demand and supply concerns, particularly with new mines taking an average of 17 years to reach production.
