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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.
32 Episodes
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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
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.
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
Precious metals are taking centre stage in 2025—but not all are moving in sync. In this episode of The Commodity Exchange, hosts Mobeen Tahir and Nitesh Shah explore what’s driving gold’s continued strength, silver’s surprising lag, and platinum’s recent breakout. They also discuss broader market dynamics including OPEC’s shifting oil strategy, the impact of tariffs on copper and industrial metals, and what the latest macro trends mean for commodities. Plus, guest Edward Sterck from the World Platinum Investment Council joins to break down the supply constraints and investor sentiment reshaping the platinum market.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
Mining is no longer just about extraction—it’s about creating lasting value for local communities. In this episode of The Commodity Exchange, host Nitesh Shah is joined by Dr. Ingrid Putkonen, Founder and Managing Director of Metals for Humanity, to explore how mining companies are rethinking their role in society. From using silver to improve access to clean water to building traceable supply chains and embedding ESG into the business model, they discuss how mining can become a force for good in an increasingly complex global landscape.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
As data centers, electrification, and AI drive electricity demand to new highs, what does this mean for commodities? In this episode of The Commodity Exchange, host Nitesh Shah is joined by James Whiteside of Wood Mackenzie to explore how the energy transition, data centre expansion, and growing EV adoption are reshaping the demand for key resources. From copper and lithium to rare earths and aluminium, they break down the metals and materials essential to the future of energy—and whether supply can keep up with surging demand.You can follow our panellists 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
Commodity markets are facing headwinds from rising bond yields, a strong dollar, trade wars, and China’s economic slowdown—but not all assets will struggle. In this episode of The Commodity Exchange, Mobeen Tahir and Nitesh Shah explore which commodities are set to thrive despite the risks. From gold’s surprising resilience to silver’s breakout potential and the energy transition fuelling demand for base metals, they break down where investors can find opportunities in 2025.For EU Investors Only:For more valuable insights and to stay ahead in the ever-evolving world of commodities, visit wisdomtree.eu/outlook
Gold has reached record highs in 2025, but what’s fuelling the rally? In this episode of The Commodity Exchange, host Nitesh Shah speaks with James Steel, Chief Precious Metals Analyst at HSBC, to break down the key drivers behind gold’s latest surge. From central bank demand to shifting geopolitical risks, they explore why investors are turning to gold despite rising bond yields and a strong U.S. dollar. Tune in for expert insights on gold price trends, silver’s potential breakout, and what lies ahead for precious metals markets.You can follow our panellists 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
In this episode of The Commodity Exchange, Nitesh hosts Aldo Spanjer, Senior Commodity Strategist at BNP Paribas, to explore the intricate dynamics of the oil and gas markets as we transition from the Year of the Dragon to the Year of the Snake. Reflecting on a year that ended with a surprising rally in energy prices, Aldo discusses the impact of geopolitical tensions, including the Middle East conflict and increased sanctions on Russia, on oil and gas prices. The conversation also covers President Trump's energy policies, the implications of tariffs on Canada and Mexico, and the challenges facing the European natural gas market. Tune in for expert insights into the factors driving energy prices and what to expect in the coming months as we move into the Year of the Snake.
You can follow our panellists on Twitter at:
Nitesh: https://twitter.com/NiteshShahWT
Mobeen: https://twitter.com/MobeenTahirWT
For EU Investors Only:
Learn more about commodities: https://www.wisdomtree.eu/en-gb/strategies/commodities-hub
In this episode of The Commodity Exchange, Nitesh and Mobeen discuss the current state and future outlook of platinum with Edward Sterck from the World Platinum Investment Council. They explore the fascinating dynamics of platinum as a commodity, including supply constraints, demand from the automotive sector, the role of hydrogen, and the impact of geopolitical factors such as the Russia-Ukraine war. The conversation also delves into jewellery demand, the relationship between platinum and gold, and the influence of palladium on platinum pricing.
You can follow our panellists on Twitter at:
Nitesh: https://twitter.com/NiteshShahWT
Mobeen: https://twitter.com/MobeenTahirWT
For EU Investors Only:
Learn more about commodities: https://www.wisdomtree.eu/en-gb/strategies/commodities-hub
In this episode of The Commodity Exchange, Nitesh and Mobeen are joined by Judith Henke, Editor, Investment and Markets team, Handelsblatt. Together they discuss the outcome of the US elections and the effect President Trump's victory has had across commodity markets.
You can follow our panellists on Twitter at:
Nitesh: https://twitter.com/NiteshShahWT
Mobeen: https://twitter.com/MobeenTahirWT
For EU Investors Only:
Learn more about commodities: https://www.wisdomtree.eu/en-gb/strategies/broad-commodities
In this episode of The Commodity Exchange, join Nitesh and Mobeen as they delve into the latest trends and insights in the commodity markets. In this episode, they explore the surge in precious metals, driven by geopolitical tensions, central bank policies, and investor sentiment. Discover why gold and silver are shining bright and what the future holds for these valuable assets. The discussion also covers the impact of China's stimulus on industrial metals, the dynamics of the energy market amidst Middle Eastern conflicts, and the tactical opportunities in agricultural commodities influenced by weather patterns.
For EU investors:
For more valuable insights and to stay ahead in the ever-evolving world of commodities, visit wisdomtree.eu/outlook
Gerard Reid, co-founder and partner at Alexa Capital, discusses the energy transition and its investment opportunities. He highlights the importance of identifying and financing promising technologies in order to drive the transition. Reed emphasizes the complexity of the energy transition and the need for education and independent views. He believes that the energy transition is a revolution rather than a transition, with winners and losers emerging. Reed also discusses the role of AI, electric vehicles, energy storage, and commodities in the energy transition.
Is the energy transition sustainable?
On this episode of The Commodity Exchange, Nitesh and Mobeen are joined by Marcel Gauch from EMPA as he delves into the sustainability of our energy transition. Discover the challenges of using finite resources, the potential of abundant materials like silicon, and the future of renewable technologies. Explore the role of batteries, hydrogen fuel, and biofuels, and understand the environmental impact of new technologies. Marcel also shares his views on nuclear energy and the importance of responsible mining. Tune in for a comprehensive look at the material limits of our energy future!
You can follow our panellists on Twitter at:
Nitesh: https://twitter.com/NiteshShahWT
Mobeen: https://twitter.com/MobeenTahirWT
For EU Investors Only:
Learn more about commodities: https://www.wisdomtree.eu/en-gb/strategies/broad-commodities
Join Nitesh and Mobeen as they explore the impact of investor sentiment on commodities with special guest Warren Pies, founder of 3Fourteen Research. Discover a data-driven perspective on oil and gold, the influence of the Federal Reserve’s policies, and the strategic moves of central banks and OPEC+. This episode offers a succinct analysis of market regimes, climate change effects on energy commodities, and the factors driving industrial metal demand. Catch the insights that shape the energy and metal markets, right here on The Commodity Exchange.
You can follow our panellists on Twitter at:
Nitesh: https://twitter.com/NiteshShahWT
Mobeen: https://twitter.com/MobeenTahirWT
For EU Investors Only:
Learn more about commodities: https://www.wisdomtree.eu/en-gb/strategies/broad-commodities
Commodities have been experiencing a rally across all sectors, driven by positive action and big picture forces.
In this episode of The Commodity Exchange, Nitesh and Mobeen discuss the recent rally in commodities, covering precious metals, energy, industrial metals, and agriculture.
They discuss the rally in gold and silver, the role of central banks and China in driving demand, and the potential upside for silver. They also talk about platinum and palladium, the impact of the energy transition, and the tight supply in platinum. They touch on copper and its importance in the energy transition, as well as natural gas and its seasonality. Finally, they discuss the recent rally in wheat and other agricultural commodities.
You can follow our panellists on Twitter at:
Nitesh: https://twitter.com/NiteshShahWT
Mobeen: https://twitter.com/MobeenTahirWT
For EU Investors Only:
Learn more about commodities: https://www.wisdomtree.eu/en-gb/strategies/broad-commodities
In this episode of The Commodity Exchange, Nitesh and Mobeen are joined by Edward Sterck, Director of Research, World Platinum Investment Council. Together they delve into the fascinating world of platinum. From exploring its cyclical and structural narratives to dissecting recent Middle East tensions’ impact on commodities, this podcast covers it all. Join the conversation as they discuss record deficits in platinum, supply challenges in South Africa and Russia, automotive sector trends, the rise of green hydrogen, and the future demand for this precious metal. Plus, get insights into gold, silver, oil, industrial metals, and European carbon markets—revealing positive signs and improving investor sentiment.
You can follow our panellists on Twitter at:
Nitesh: https://twitter.com/NiteshShahWT
Mobeen: https://twitter.com/MobeenTahirWT
For EU Investors Only:
Learn more about commodities: https://www.wisdomtree.eu/en-gb/strategies/broad-commodities
In the first half of this Episode of The Commodity Exchange, Nitesh and Mobeen are joined by Nick Stadmiller, head of product at Medley Advisors. Together they discuss key macroeconomic topics related to commodity markets. The conversation covers central bank activity, the polarization of central banks, expectations from the Fed, risks of surprises, the ECB's timing and actions, China's economic prospects, deglobalization and emerging markets, and the economic implications of the US election. In the second half of this episode, Nitesh and Mobeen reflect on the topics covered with Nick and discuss how they impact commodity markets, with a focus on gold and other precious metals.
You can follow our panellists on Twitter at:
Nitesh: https://twitter.com/NiteshShahWT
Mobeen: https://twitter.com/MobeenTahirWT
Nick: https://twitter.com/NickStadtmiller
For EU Investors Only:
Learn more about commodities: https://www.wisdomtree.eu/en-gb/strategies/broad-commodities
In this episode of The Commodity Exchange, Nitesh is joined by Steven Knell, Head of Power and Renewables, Wood Mackenzie and Aneeka Gupta, Director, Macroeconomic Research, WisdomTree. Their conversation explores the ongoing energy transition and its implications. They discuss the challenges and opportunities in the transition from fossil fuels to low-carbon energies, the role of strategic metals and rare earth minerals in the energy transition, along with the long-term growth drivers for these resources as well as the opportunities for miners geared towards the transition.
(00:00) Introduction
(05:13) Reflection on 2023 and the Energy Transition
(08:34) The Role of Strategic Metals and Rare Earth Minerals
(13:27) Long-Term Growth Drivers for Strategic Metals
(26:25) The Importance of China in the Energy Transition
(32:10) Opportunities for the Energy Transition Value Chain
(37:19) Opportunities for Miners Geared Towards the Energy Transition
(45:39) Earnings Season for Q4 2023 and Miners Geared Towards the Energy Transition
You can follow our panellists on Twitter at:
Nitesh: https://twitter.com/NiteshShahWT
Aneeka: https://twitter.com/AneekaGuptaWT
Mobeen: https://twitter.com/MobeenTahirWT
For EU Investors Only:
Learn more about commodities: https://www.wisdomtree.eu/en-gb/strategies/broad-commodities
In this episode of the Commodity Exchange podcast, Nitesh Shah interviews Philip Newman, Managing Director and Founder at Metals Focus, about the factors influencing gold and silver prices. They discuss the record highs in gold prices in December 2023, driven by geopolitical issues and rate cut expectations. They also explore the trends in central bank gold demand, the retail market, and the behaviour of institutional investors. Additionally, they examine the gold to silver ratio and the silver market deficit, particularly in relation to the rising demand for photovoltaics.
(00:00) Introduction and disclaimer
(03:11) Gold hitting record highs in December 2023
(05:19) Geopolitical issues and gold price pressure
(09:40) Rate cut expectations and gold prices
(15:32) Central bank gold demand in 2023
(22:31) Trends in the retail market
(27:10) Institutional investor behaviour
(29:27) Impact of US elections on gold prices
(33:24) Gold to silver ratio and silver performance
(35:32) Silver market deficit
(40:24) Rising demand for photovoltaics and silver
(41:42) Conclusion
You can follow our panellists on Twitter at:
Nitesh: https://twitter.com/NiteshShahWT
Mobeen: https://twitter.com/MobeenTahirWT
For EU Investors Only:
Learn more about commodities: https://www.wisdomtree.eu/en-gb/strategies/broad-commodities
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