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Clem Chambers, a financial analyst and author, has weighed in on geopolitical escalation in Iran, giving his two cents on what market trends are most likely to grow in its aftermath.
Speaking with David Lin on February 27, Chambers argued that while direct strikes on Iran could trigger short-term price spikes, real investment opportunities lie in sustained geopolitical tension.
Interestingly, the analyst also emphasized the strategic rivalry between the U.S. and China, as well as the AI boom, in addition to what is happening in the Middle East.
Among assets that stand to grow the most in his complicated theater, he argued, are commodities, particularly gold, copper, uranium, and eventually oil.
“China’s a big driver of the gold price. I wonder why they’re buying so much. Gold is for war,” Chambers said.
Gold to hit $6,000?
Chambers said precious metals remain structurally supported by global instability. Again, though, while a direct military escalation involving Iran could spark a sharp, temporary rally, Chambers expects gold to continue “grinding higher” rather than experiencing a vertical surge.
In the long run, he said gold could reach $6,000 this year under current conditions. Silver, he added, typically follows gold. Accordingly, it, too, could experience faster upside during periods of retail-driven momentum.
As for the next major breakout candidate, Chambers singled out copper. He noted that while copper has risen significantly in recent years, it has lagged gold and silver on a relative basis and could “catch up” in dramatic fashion. In fact, he projected the metal could triple within two years, potentially reaching $50,000 to $100,000 per ton thanks to the demand it enjoys in AI.
Uranium will also benefit
Chambers also highlighted uranium and nuclear-related infrastructure as beneficiaries of both AI expansion and energy security concerns.
Specifically, he argued that AI’s massive electricity demands are forcing policymakers to reconsider nuclear energy as a necessary power source.
“So anybody that knows anything about nuclear power: it’s going to go through the roof,” he said.
Escalation in the Middle East, including Iran, could further strengthen the case for energy independence and nuclear buildouts.
Oil will go ballistic
Notably, Chambers does not expect oil to surge immediately. It will eventually, however, move “ballistic.” Naturally, this is because Iran is a major oil producer and key player in regional shipping routes.
However, the speaker emphasized that the bigger oil move would likely come later, as AI-driven electricity consumption forces energy reprioritization and internal combustion demand remains resilient.
Ultimately, then, the discussion framed the Iran situation as a short-term accelerant rather than the core driver of the commodity bull thesis. What’s more, AI will remain the dominant tailwind, marked by massive capital deployment, rising inflation pressures, and global competition.
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