Commodities Outlook 2026: Gold, Silver & Oil Price Forecasts - IG Group

💡 IG Group's analysts predict a mixed commodities outlook for 2026, with gold and silver prices expected to rise, while oil prices are forecasted to decline.

The commodities market is on the cusp of a significant shift in 2026, with gold, silver, and oil prices expected to move in divergent directions. This has major implications for investors, who need to stay informed to make informed decisions.

Gold Price Forecast

Gold prices are expected to rise in 2026, driven by a combination of factors including a weaker US dollar and increased demand from central banks. The World Gold Council predicts that gold demand will increase by 10% in 2026, driven by growing concerns over inflation and economic uncertainty. Gold prices are expected to reach $1,900 per ounce by the end of the year, up from $1,700 in 2025.

Silver Price Forecast

Silver prices are also expected to rise in 2026, driven by increased demand from the industrial sector. The silver market is closely tied to the price of gold, and as a result, is expected to follow a similar trend. Silver prices are expected to reach $23 per ounce by the end of the year, up from $20 in 2025.

Oil Price Forecast

Oil prices are forecasted to decline in 2026, driven by increased supply from OPEC and other major producers. The International Energy Agency predicts that global oil demand will slow in 2026, leading to a surplus in the market. Oil prices are expected to reach $60 per barrel by the end of the year, down from $70 in 2025.

What It Means for Investors