Gold has captured investors’ attention, with the price rocketing 82 per cent over the past year. Although that pales in comparison to the 179 per cent rise in the silver price.
But while gold and silver grabbed the headlines, other metals have also soared, with platinum up 127 per cent in 2025, palladium up 78 per cent, lithium up 65 per cent and copper rising 44 per cent.
So, what lies behind the surge in metals, can it continue and is there still an opportunity for investors to profit?
On this episode of the Investing Show, Evy Hambro, co-manager of BlackRock World Mining Trust, explains to Simon Lambert what’s happening in the world of commodities.
With decades of investment experience under his belt, Evy talks through the concept of commodity super cycles and where we stand now in relation to that. He explains how the trust invests through stock market listed companies and the unique opportunities it taps through unlisted firms.
BlackRock World Mining has benefited from the rapid uptick in metals prices, delivering a 127 per cent return to investors over the past year, almost as large as its 129.8 per cent return over five years. Over ten years, it has returned 757 per cent.
The trust has ongoing charges of 0.95 per cent and a 2.1 per cent dividend yield.
Evy discusses why even if metals stop their sharp rises – which he says they must eventually do – miners can still profit and deliver both rising share prices and healthy dividends.
However, the fund manager has some words of caution for investors tempted to pick individual stocks, in terms of ensuring they look closely at financials and balance sheets.
And finally, he answers the question of which metal or commodity could people be overlooking?
This Investing Show episode was filmed before the Middle East conflict with Iran began. The price of gold and silver have risen since then.
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