Commodities Tracker: January 2026

The Global X Research Team is pleased to announce the release of its Monthly Commodities Tracker. This commentary covers the latest developments across several commodities markets, from precious metals to uranium, copper, and the disruptive materials that are powering next-generation technologies. Click here to view the report.

Key Takeaways

• Nuclear Energy & Uranium: Meta and the State of New York made separate announcements, each representing the largest potential nuclear capacity additions of their kind across the tech and municipal sectors in recent history. Meanwhile, the Department of Energy awarded $2.7 billion in task orders to expand domestic uranium enrichment capacity.

• Copper: Copper prices vaulted to new records in the first weeks of 2026, following a disruption at Capstone Copper’s Mantoverde operation; meanwhile Rio Tinto and Glencore revealed discussions that could potentially lead to the largest mining deal in history.

• Precious Metals: Gold and silver hit historic highs in mid-January, as platinum group metals witnessed inflows on surging trade risks and haven demand. Dollar debasement and industrial demand remain potential drivers in 2026.

• Critical Minerals, Battery Tech, & Lithium: The rally in lithium markets continued for a third month, driven by resilient demand, tightening supplies, and rising investments in battery storage. For rare earths, the U.S. and Europe sought critical mineral deals in Brazil, home to the world’s second largest mine reserves of rare earths.

Our monthly commodities tracker looks at recent developments across several subsectors, including uranium, copper, precious metals, and disruptive materials.

Our monthly commodities tracker looks at recent developments across several subsectors, including uranium, copper, precious metals, and disruptive materials.

Our monthly commodities tracker looks at recent developments across several subsectors, including uranium, copper, precious metals, and disruptive materials.

Our monthly commodities tracker looks at recent developments across several subsectors, including uranium, copper, precious metals, and disruptive materials.