Is Silver the New Gold? Commodities Outlook 2026| ft. Mr. Kishore Narne from Motilal Oswal
Commodities are no longer just a hedge — they are becoming a core part of the global macro conversation.
**This conversation is as on 10th January 2026
In this in-depth podcast, Kishore Narne, Head of Commodities at Motilal Oswal Financial Services, breaks down the structural shifts driving gold, silver and the broader commodities cycle. From changing global trade dynamics and central bank behaviour to liquidity trends and geopolitical risks, this discussion focuses on frameworks, not forecasts.
The conversation explores how trust in fiat systems, supply-demand imbalances in metals, and evolving policy environments are reshaping investor thinking in 2026 and beyond.
🎙️ What you’ll learn in this episode:
Why commodities moved from “sideshow” to “main event”
Gold as a store of value vs silver as an industrial asset
Structural deficit in silver and its long-term implications
Central bank gold buying and global liquidity cycles
Rupee outlook, crude oil trends and copper’s macro drivers
Portfolio allocation thinking for precious metals
This podcast is designed to help investors understand the behavioural and macro drivers behind commodities — not short-term price calls.
00:00 Introduction
01:08 Silver rally & commodity framework
06:45 Commodity cycle & global policy shifts
10:04 Gold vs Silver debate
15:58 Central bank demand & price drivers
17:00 Rupee outlook
18:54 Crude oil view
22:26 Copper outlook & industrial metals
24:23 Portfolio allocation strategy
⚠️ This video is for educational purposes only and should not be considered investment advice. Please read all related documents carefully before investing.
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