Sohn Montreal Experts Back Gold and Copper for 3 Years as Deglobalization Fuels Inflation
Updated
Updated · Kitco NEWS · Jun 4
Sohn Montreal Experts Back Gold and Copper for 3 Years as Deglobalization Fuels Inflation
1 articles · Updated · Kitco NEWS · Jun 4
Summary
Karen Karniol-Tambour and Louis-Vincent Gave told the Sohn Montreal Conference they expect a sustained commodity bull market, with gold and copper their highest-conviction calls over the next three years.
Geopolitical fragmentation, supply-chain reshoring and an AI-driven buildout of power and grid infrastructure are creating a global scramble for physical resources and a more inflationary world, they said.
Gave argued that bonds no longer reliably hedge equities because inflation shocks have pushed both lower together, while heavy government spending on defense, manufacturing and strategic capacity keeps pressure on bond markets.
Gold stands to benefit as countries rethink reserve security after Russian assets were frozen, while copper should gain from electricity-grid upgrades, solar expansion and data-center power demand.
The June 4 conference was the foundation's second in Canada and raised $1.4 million for Montreal Children's Hospital and Sainte-Justine Hospital.
As central banks abandon US bonds for gold, is the era of dollar dominance truly coming to an end?
With AI's massive energy needs, are commodities like copper and silver the new 'oil' for the digital age?
Deglobalization Drives 2026 Commodity Bull Market: Gold and Copper Take Center Stage Amid Geopolitical Volatility
Overview
The 2026 Sohn Montreal Conference highlighted a major economic shift: deglobalization is accelerating, leading to a strong bull market for commodities like gold and copper. This change is driven by rising geopolitical tensions and global instability, as seen in early 2026 when US and Israeli strikes on Iran led to the closure of the Strait of Hormuz, disrupting vital oil supply routes. These events exposed the fragility of global supply chains and pushed countries to seek more secure, local resources. As a result, commodities are gaining importance in a world moving away from interconnected trade.