With silver, copper and gold prices all hitting new highs in recent months, the commodity supercycle seems to be in full effect. Amid rising demand from electric vehicles (EVs), the military, and artificial intelligence (AI) sources, more and more analysts are weighing in with bullish forecasts for industrial metals like silver (SIN24) and copper (HGN24), while gold (GCM24) is expected to draw investors as an inflation hedge.
Against this backdrop, Manish Kabra, SocGen's head of U.S. equity and multi-asset strategy, warns that while underlying commodity prices could pull back, there's still upside potential in related mining stocks. To that end, Kabra has created a basket of commodity stocks that look set to benefit from “greenflation” as the clean energy transition rolls on.
