Commodities & Natural Resources

Gold futures have surged to $4,200 per ounce in 2026, driving a sharp divergence across global commodities markets as precious metals miners post record margins while base metals and energy producers face headwinds from slowing growth in China, Europe, and North America. The rally reflects a broad institutional rotation away from high-multiple equities and speculative assets toward hard-asset safe havens amid Federal Reserve rate cut expectations and softening real yields. For miners with Africa

Artemis Gold has approved a $1.44 billion CAD expansion of its Blackwater Mine in British Columbia, targeting 500,000–525,000 ounces of annual gold production by 2029. At current gold prices near $4,200 per ounce, the mine's cost structure would generate margins exceeding 75% — extraordinary by any global mining standard. The project represents one of the most significant new gold supply additions in a stable jurisdiction in over a decade.