Gregory Shearer

Gregory Shearer, Head of Base and Precious Metal Research at J.P. Morgan, shares his insights on the global commodities outlook for 2025. He highlights a continued bullish stance on gold, anticipating price growth alongside silver and platinum. Shearer points out that while oil faces a bearish forecast due to surplus, industrial metals are emerging as economically favorable investments. He discusses the disinflationary trends supported by commodities and investment opportunities in agricultural products, adapting to evolving global dynamics.

In this insightful conversation, Greg Shearer, Head of Base and Precious Metals Research at J.P. Morgan, shares his expertise on the evolving gold market. He discusses the growing interest in gold among international investors, especially amid concerns over U.S. asset stability. The episode delves into the hypothetical scenario where a mere 0.5% shift of foreign U.S. assets into gold could push prices up to $6,000. Shearer emphasizes the significant potential returns and the structural bullish outlook for gold amid changing market dynamics.

Meera Chandan, Co-Head of FX Strategy at J.P. Morgan, dives into the transactional side of the dollar, while Saad Siddiqui analyzes dollarization trends in emerging markets. Jay Barry discusses the decreasing foreign ownership of U.S. Treasuries, revealing shifts in global investment patterns. Meanwhile, Greg Shearer highlights the structural changes in commodity transactions as de-dollarization unfolds, particularly in energy markets. These insights paint a compelling picture of the evolving role of the dollar in today's global economy.