Commodities Outlook H2 2026

Investor webinar replay

Meeting Overview The meeting focused on the discussion of metals and commodity prices, particularly gold and silver, as the panelists analyzed market trends and potential future movements in light of geopolitical tensions and economic factors. The conversation highlighted the differences in trading patterns between gold and silver and the implications of current market conditions. Key Discussion Points - Overview of current metals and commodity prices, with a focus on gold and silver. - Discussion on the impact of geopolitical events, particularly conflicts in the Middle East, on commodity prices. - Analysis of gold's recent price movements and its role as a source of liquidity in the financial system. - Examination of silver's trading patterns and its volatility compared to gold. - Insights into the industrial demand for silver versus its investment-driven price movements. Decisions Made - No explicit decisions recorded. Action Items & Next Steps - [Unassigned] : Follow up on quest...

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[Speaker identities could not be resolved; generic labels used] [00:03] Speaker 1: So good morning, good afternoon or good evening, depending on where in the world you are. I appreciate it very much. I got a great panel here today to discuss metals and commodity prices going into the 2nd half of 2026. [00:14] Speaker 1: With war in the Middle East apparently back on and unfortunately, England still in the World Cup, Nobody knows which way is up or down. But thankfully I've got some industry experts here with me to help sort it all out. A couple ground rules for today. I know there's a lot of you in the room. [00:28] Speaker 1: We're probably not going to get to questions about individual securities today, but I still encourage you to put them into the chat if you'd like follow-up. I'll be sending through those questions to the individual speakers' [00:37] Speaker 1: teams following today's event, so please do feel free to still engage. If you have a question that's on topic, I might be able to work it into the discussion, but we've got a pretty [00:46] Speaker 1: tight number of questions today, so I might not get to all of them. The only other thing I'll say is today's event is being recorded and will be available for replay end of day Eastern time. It'll pop right in your inbox. It'll also be available on Six's YouTube channel. [00:59] Speaker 1: But That is through the boring part of today's event. I want to get right into the protein. [01:03] Speaker 1: And Dan, I'll start with you. He's got big news over the last 2 weeks, obviously, at 1st mining gold. [01:08] Speaker 1: But gold ran to an all-time high, near 5, 600, almost, in late January, [01:13] Speaker 1: but then has met months since, [01:15] Speaker 1: grinding sideways, going into the low 4, 000s, even d...