Natural Gas Price Prediction: $4.20 Bull vs $2.10 Bear Case
Natural Gas trades at $2.938/MMBtu, but EIA needs 80 Bcf a week to hit its record October storage forecast. Our bull case is $4.20, our bear case $2.10.
Commodities
Gold, oil, gas and the metals complex — supply, demand and the trades the physical market is telegraphing.
Lithium Carbonate Hits 161,000 Yuan as CATL Restart Stalls
Lithium carbonate closed at 161,000 yuan a tonne on GFEX as CATL's Jianxiawo mine stayed shut, while Western lithium equities ran far ahead of the curve.
Uranium Price Prediction: $118 Bull Case vs $68 Bear Case
Uranium spot is $89.72/lb but the term price prints $95.50 and has not fallen once in 2026. Our year-end call: $96 base, $118 bull, $68 bear, and the trigger.
Gold Price Prediction: $5,050 Bull Case vs $3,960 Bear
Gold price prediction to end-2026: spot $4,456 sits 1.4% under its 200-day after a 10% August, yet miners ran 34%. Bull $5,050, base $4,640, bear $3,960.
Copper Price Prediction: $7.50 Bull Case vs $5.60 Bear Case
Copper trades at $6.59/lb after August's record high. Our bull case is $7.50 and bear $5.60, with the US tariff ruling and thin LME stocks the swing factors.
Silver Climbs 16% to $69.57 as the Gold Ratio Hits 66
Silver climbed 16% in a month to $69.57 an ounce, but is down 8.8% over 90 days. The gold-to-silver ratio at 66.3 explains the move better than the deficit.