Gold’s resilience despite rising US interest rates and a looming shortage of available copper could set the stage for higher metals prices in 2027, according to Daniel Ghali, head of metals research at Deutsche Bank.
Ghali said physical gold demand remains exceptionally strong, potentially matching previous records by volume. He also warned that continued stockpiling could push available copper inventories dangerously close to zero, forcing prices substantially higher.
Ghali also discussed why silver could underperform gold in 2027, the prospect of a structural silver surplus, and how a global recession could undermine the bullish copper outlook.
