The Vancouver Resource Investment Conference (VRIC) 2026 brought together industry experts and investors to discuss the current state and future of the commodities market. In a recent interview with Kitco News at the conference, Nomi Prins from Prince Sight shared her insights on the ongoing commodity supercycle, with a focus on precious metals like gold, silver, and platinum. According to Prins, the surge in prices of these metals is not just a reaction to current market volatility but is driven by structural factors such as persistent supply shortages and increasing demand.
Gold has recently surpassed the $5,000 per ounce mark, and silver has hit a new all-time high above $117 per ounce. These price movements are occurring amid significant market volatility, driven in part by institutional conflicts, including a $5 billion lawsuit from President Trump against JP Morgan and subpoenas issued to the Federal Reserve. Prins argues that the rise in precious metals is not merely a safe-haven play but is fueled by fundamental factors such as supply constraints and growing demand from central banks, sovereign funds, and industrial users.
Silver, in particular, is playing a dual role as both an industrial metal and a potential shadow reserve currency. Prins highlights that silver is facing a chronic supply deficit, with no significant new mines on the horizon to alleviate the shortage. This supply constraint, combined with its increasing demand from industrial users, positions silver for potentially significant price gains. Prins forecasts that silver could climb to $180 by year-end, driven by these fundamental factors.
Central banks are increasingly reducing their holdings of US debt and increasing their gold reserves, signaling a shift away from fiat currencies towards tangible assets amid geopolitical and economic uncertainty. Sovereign funds, particularly from the Middle East and Asia, are also accumulating precious metals for diversification and supply security. This trend is expected to continue, driving demand for precious metals and supporting higher prices.
Prins notes that mining companies with new or near-permitted projects in stable jurisdictions represent attractive investment opportunities as M&A activity intensifies. Moreover, governments are emerging as key players in securing critical minerals like rare earths and copper, essential for energy transition and technology. Platinum, with its limited supply concentrated in geopolitically sensitive regions and its critical uses in hybrid vehicles and defense technologies, is particularly bullish.
Regarding monetary policy, Prins expects the new Federal Reserve chair to prioritize supporting the long end of the yield curve through potential quantitative easing, as the US Treasury needs assistance managing its high debt load. While the S&P 500 may continue to rise nominally, Prins believes hard assets will significantly outperform equities, with growing investor rotation into gold, silver, and miners. Younger investors, in particular, are increasingly attracted to tangible assets due to inflation, currency debasement, and distrust of institutions.
Copper is identified as a critical commodity with strong demand growth driven by energy infrastructure needs. Prins forecasts a price target of $7 per pound in the near term, driven by the ongoing energy transition and infrastructure development.
In conclusion, Nomi Prins’ insights at VRIC 2026 highlight the ongoing commodity supercycle, driven by structural factors such as supply shortages and increasing demand from central banks, sovereign funds, and industrial users. With gold forecasted to reach $6,000 per ounce within six months and silver potentially climbing to $180 by year-end, investors are advised to consider tangible assets as a key component of their investment portfolios. For specific investment ideas and further insights, viewers can follow Prince Sight’s research and model portfolios.
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For more information and insights from Nomi Prins, watch the full video interview with Kitco News at VRIC 2026.
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