January 30, 2026· 40 min

Jeff Currie on the Crazy Surge in Metals, And Why The Supercycle Has Years to Run

Jeff Currie

Orality

Model

83%

Speaker Breakdown

HostJoe Weisenthal(1,322 words)

M:55%

HostTracy Alloway(790 words)

M:57%

GuestJeff Currie(5,083 words)

M:55%

Oral Indicators

Agonistic17%

literally, completely, very

Engagement62%

you, our, your

Memory Aids100%

listen, now, right

Repetition100%

it's (88x), know (57x), gonna (53x)

Parallelism72%

And And I'm Tracy Alloway...., So we have gold above 5,500 an..., And now we have copper at over...

Sound Patterns75%

61 question(s), alliteration: "markets move", alliteration: "barclays brief"

Formulaic Phrases5%

you know what, i mean

Literate Indicators

Hedging10%

may, probably, maybe

Passive Voice5%

is measured, be seized, be frozen

Abstract Nouns21%

investment, recommendation, business

Subordination5%

because, although, therefore

Sentence Length32%

Avg: 13.1 words/sentence

Word Complexity46%

investment, analyze, anticipate

Academic Markers0%

Impersonal Style38%

510 personal pronouns found

Descriptive Style75%

literally, completely, apply

Description

The big story this year is the surge in metals. And it's really all metals. The ultimate industrial metal, copper, has been on a massive tear, but so has gold, which has very few industrial uses. And then, of course, silver has seen a blistering rally, in part due to massive buying in China. On this episode, we bring back the man who saw this coming years ago, Carlyle partner Jeff Currie. Prior to joining Carlyle, Currie was a top commodities analyst at Goldman Sachs, and has been calling for the emergence of a brand new supercycle for years now. In this episode, he explains the drivers of this supercycle, and why he thinks we're in the very early days of what will be a multi-year run. Read more: Gold Retreats in Sudden Selloff After Breaking Through $5,500 China’s Metals Mania Sends Copper Soaring Past $14,500 a Ton Only http://Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox each week, plus unlimited access to the site and app. Subscribe at bloomberg.com/subscriptions/oddlots Subscribe to the Odd Lots Newsletter Join the conversation: discord.gg/oddlots See omnystudio.com/listener for privacy information.

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