Barclays Bank has increased its copper price forecasts for 2026 to 2028; it now expects prices to range from $5.59 to $5.68 per pound. Prices for precious metals have been raised even further. Silver is expected to rise to $75 per ounce in 2026 and $65 in 2027, while gold is projected at $4,550 and $4,250 per ounce, respectively.
The prices of copper and precious metals are likely to rise when interest rates fall, inflation increases, and the US dollar weakens.
Since gold began its rally in October 2023, the price of copper has already increased by 64%. Based on historical trends, the price of copper could still rise by another 24% to 78%.
