Precious metals, resources benefit from geopolitical tailwinds - The Globe and Mail

AI desk brief

Precious-metals fund managers attribute gold demand to geopolitical instability, fiscal deficits and currency-devaluation concerns, although the article reports gold has fallen over the past year from record highs. Mackenzie Precious Metals Fund holds roughly 10% in bullion alongside mining equities. Ninepoint’s Nawojka Wachowiak says industrial uses represent 60% of silver demand, with solar, electrification and AI supporting consumption while supply has lagged. Energy managers warn prolonged U.S.-Iran conflict could constrain oil supply and raise inflation; any support for bullion would depend on the resulting policy and economic response, rather than follow automatically from higher energy prices.