benzinga20d ago
Commodities asset manager Sprott (NYSE:SII), known for treating precious metals as a macro signal, is evaluating the market’s structural change following one of the strongest years on record for gold and silver.The commodity sector, in its view, is no longer a trade—it's becoming a core allocation shaped by politics, policy, and power.That framework is laid out in Sprott’s Top 10 Themes for 2026 report, which walks investors through a map of a fractured global system. Three ideas dominate the narrative: accelerating deglobalization, the rise of the debasement trade, and the continuation of a gold and silver bull market.Critical Metals Become Strategic AssetsDeglobalization is no longer a buzzword, but rather a new reality."The old global order is dissolving, marked by aggressive geopolitical maneuvers and rising tensions that are destabilizing the international system." Market Strategist Paul Wong and ETF Director Jacob White note.Governments are now prioritizing sovereignty, supply security, and political leverage over cost minimization, and commodities sit squarely at the center of that trend.Critical minerals, energy inputs, and even precious metals are being reclassified as strategic assets. Tariffs, export controls, and stockpiling are fragmenting once-unified markets, creating regional shortages and persistent price dislocations. Therefore, copper can now trade at a large premium in one jurisdiction while inventories elsewhere appear sufficient. The old arbitrage mechanisms no longer function smoothly.The trend is also inflationary. Nearshoring, ...Full story available on Benzinga.com