The Commodity Exchange

Hosted by WisdomTree

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May 2026

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About the show

Commodities can be impacted by a whole host of factors, from geopolitical risk to climate change. For those looking to make sense of the landscape, and understand the key drivers behind prices, our podcast offers insights and academic discussion from Europe’s leading commodity exchange-traded fund provider.

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39 recent

May 27, 2026Episode 249 min

Precious metals after the rally: what happens next? | The Commodity Exchange

After another period of sharp rallies and sudden pullbacks, precious metals are once again commanding investor attention. But while gold and silver may be seen as safe havens, recent market moves have shown they are not immune to volatility.In this episode of The Commodity Exchange, we speak with James Steel, Chief Precious Metals Analyst at HSBC, about what is driving gold, silver, platinum and palladium markets right now. The conversation explores why gold initially pulled back despite rising geopolitical tensions, how central banks and investors are behaving at current price levels, and what role inflation, bond yields and oil prices are playing across precious metals markets.We also discuss silver’s industrial demand story, the impact of solar and electric vehicles, and why platinum markets are attracting renewed attention amid tightening supply and changing jewellery demand trends.

May 11, 2026Episode 457 min

Oil, gold and commodities after the Strait of Hormuz shock | The Commodity Exchange

A few weeks ago, hardly anyone was talking about the Strait of Hormuz. Now, it's at the centre of global markets.In this episode of The Commodity Exchange, we break down what the Middle East conflict means for commodities and the global economy. From oil and gold to industrial metals and agriculture, the ripple effects are now spreading across markets worldwide.

March 31, 2026Episode 343 min

Oil, geopolitics, and the next commodity supercycle | The Commodity Exchange

In this episode of The Commodity Exchange, Nitesh Shah is joined by Josef Schachter of the Schachter Energy Report to unpack the recent volatility in oil prices and what it means for investors. They discuss supply dynamics, strategic reserves, and how geopolitical tensions are shaping short-term price movements.Beyond the headlines, the conversation expands into a broader view of commodities, from energy markets to metals and food, and the case for a new commodity supercycle driven by underinvestment and rising demand from emerging markets.

March 2, 2026Episode 252 min

Strategic or tactical? The structural case for commodities | The Commodity Exchange

In this episode of The Commodity Exchange, Nitesh Shah is joined by Tobias Lazar to explore the strategic role of commodities. They discuss diversification, inflation protection, the US dollar effect, and where we are in the economic cycle. They also explain how commodity indices are constructed, why futures curve positioning matters, and how next-generation strategies aim to reduce roll drag and improve outcomes.From gold and silver to cocoa, copper and crude oil, this episode unpacks how commodities behave and why they may matter more than investors realise.

February 9, 2026Episode 131 min

When safe havens test conviction: gold rising, silver swinging | The Commodity Exchange

Gold is climbing steadily. Silver is spiking and sliding. In this episode of The Commodity Exchange, host Nitesh Shah speaks with Philip Newman, Managing Director at Metals Focus, to unpack the forces driving recent moves in the precious metals market. They discuss silver’s wild volatility, tariff-driven flows, ETF positioning, and why central banks and retail investors are still backing gold. This is a timely conversation about conviction, liquidity and the evolving safe haven story.

November 28, 2025Episode 1231 min

What if the true driver of global prosperity is buried underground? | The Commodity Exchange

We often credit innovation, finance or technology for powering the modern world. But what if the real story starts deeper underground? In this episode of The Commodity Exchange, host Nitesh Shah speaks with Scott Crooks, Principal Analyst at Codelco, to explore how metals like copper, steel and nickel have shaped the rise of nations and continue to drive global power dynamics. From the industrial revolution to the green energy transition, they unpack why mining is foundational to prosperity and what today’s infrastructure gaps tell us about tomorrow’s geopolitical shifts.

October 17, 2025Episode 1140 min

Gold’s hot. Silver’s rallying. What next for precious metals? | The Commodity Exchange

Gold is above $4,000. Silver is up over 75% year-to-date. Even platinum and palladium are surging. In this episode of The Commodity Exchange, hosts Mobeen Tahir and Nitesh Shah break down the precious metals rally and WisdomTree’s latest gold outlook. They explore what’s driving prices higher—from dollar depreciation and rate cuts, to policy risk, tariffs, and Fed credibility. Nitesh also shares updated scenario forecasts for gold, discusses silver market dynamics, and explains how supply deficits and substitution effects are supporting platinum and palladium.

September 19, 2025Episode 745 min

Commodities in a realigning world: tariffs, tensions, and tailwinds | The Commodity Exchange

Commodities are no longer a sideshow—they’re the story. In this episode of The Commodity Exchange, hosts Mobeen Tahir and Nitesh Shah discuss WisdomTree’s latest outlook and break down what’s driving markets in 2025. From record gold prices, copper volatility, and oil’s OPEC dynamics, to the impact of tariffs, central banks, and a softening dollar, they unpack the macro and geopolitical forces reshaping the commodities landscape.For EU investors only:Check out the full outlook here: https://www.wisdomtree.eu/en-gb/wisdomtree-outlookYou can follow our panellists on Twitter at:Nitesh: https://twitter.com/NiteshShahWTMobeen: https://twitter.com/MobeenTahirWT

August 22, 2025Episode 932 min

Inside platinum’s rally: supply deficits, tariffs, and Chinese demand | The Commodity Exchange

Platinum has been one of the strongest-performing precious metals of 2025, with prices rising nearly 50% year-to-date. But what’s driving the rally? In this episode of The Commodity Exchange, host Nitesh Shah speaks with Wilma Swarts, Director of Platinum Group Metals at Metals Focus, to unpack the key forces behind platinum’s breakout. They explore the impact of supply constraints, the role of Chinese jewellery demand, the effects of tariff anxiety, and how automotive and industrial uses are evolving. Plus, they discuss the outlook for palladium, scrap supply, and the long-term case for platinum in the energy transition.

July 10, 2025Episode 847 min

Risk on the rise: how conflict, tariffs and deficits are moving commodities | The Commodity Exchange

From Middle East tensions to the looming return of trade wars, commodities are once again in the spotlight. In this episode of The Commodity Exchange, hosts Mobeen Tahir and Nitesh Shah break down the complex drivers shaping global markets—from oil’s reaction to geopolitical flare-ups, to gold’s resilience in the face of uncertainty, and the surprising strength in platinum, silver, and copper. They explore the key risks investors should watch, including the Strait of Hormuz, OPEC’s shifting strategy, and potential tariffs on copper that are already warping global pricing dynamics.You can follow our hosts on Twitter at:Nitesh: https://twitter.com/NiteshShahWTMobeen: https://twitter.com/MobeenTahirWTFor EU Investors Only:Learn more about commodities: https://www.wisdomtree.eu/en-gb/strategies/commodities-hub