Precious metals outperform while energy lags in 2026, Mike McGlone notes

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20.05.2026

Precious metals outperform while energy lags in 2026, Mike McGlone notes — Precious metals outperform energy in 2026

Mike McGlone highlights that in 2026, precious metals are the only major commodity sector to achieve new highs. Energy, in contrast, has struggled for nearly two decades and may continue to face significant challenges.

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McGlone previously noted that crude oil maintained a pattern of lower highs in 2026, despite elevated levels in the U.S. stock market, according to his earlier analysis. He has also examined the ongoing trend of lower highs and lows for WTI crude oil since its 2008 peak at $147, as detailed in a separate report. The continued weakness in energy markets contrasts with the gains seen in precious metals.

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