Issue No. 3   •   August 2026

WEEKLY WISDOM   

The Drivers of the

Next Commodity Cycle

STEPHANIE LINK    •    CHIEF INVESTMENT STRATEGIST, HIGHTOWER ADVISORS

Global electricity consumption is growing much faster than overall energy demand, with EVs and data centers among the biggest contributors. That creates sustained demand for physical infrastructure—power grids, data centers, renewable energy, storage and charging networks—and, in turn, for the metals needed to build it. Copper, silver and aluminum are positioned as major beneficiaries, particularly as supply growth struggles to keep pace with demand.

Copper appears to have the strongest structural supply-demand story. EVs require significantly more copper than conventional vehicles, while grid expansion, renewables and AI data centers are adding further demand. At the same time, production forecasts are being cut, existing mines face disruptions and developing a new copper mine can take as long as 18 years. Silver faces a similar imbalance: solar alone consumes about 20% of annual silver supply, and the market is expected to record its sixth consecutive annual deficit in 2026. Aluminum's supply picture is somewhat more balanced, but EV adoption, renewable energy, electrical transmission and energy storage are still expected to drive substantial long-term demand.

Gold provides a different but complementary component of the commodity thesis. After falling sharply from its early-2026 highs, gold has benefited from shifting interest-rate expectations and continued central-bank buying. The article argues that a more dovish Federal Reserve could reduce the opportunity cost of holding gold, while purchases by central banks—particularly China and Poland—provide a structural source of demand. Taken together, the authors see electrification-driven demand, constrained supplies, geopolitical disruptions and supportive precious-metals fundamentals as the key forces that could underpin the next commodity cycle.

THREE QUESTIONS TO ASK YOUR ADVISOR

— Given the potential for a new commodity cycle, what role—if any—should commodities such as copper, gold, silver, or aluminum play in my portfolio?

— How could increased spending on AI infrastructure, electrification, and the power grid create investment opportunities beyond the commodities themselves?

— With commodity prices often being volatile, how should we balance the potential benefits of commodity exposure with the risks—and does my current portfolio already have meaningful exposure?

LESSONS LEARNED FROM WOMEN'S SPORTS

Game Changers

Women's Sports and Financial Strength

The rise of women's sports didn't happen overnight. It was built through vision, persistence, and a commitment to long-term success. Those same qualities can help to create financial confidence and resilience. Inspired by our conversation with Mollie Marcoux Samaan, CEO of U.S. Squash, this article explores the connection between athletic achievement and financial wellness. 

Read the full article and discover lessons you can apply to your own future.

From Taking Care of Everyone Else

to Making Room for Yourself

KIMBERLY O'BRIEN  •  WEALTH ADVISOR, HTSW DOWNERS GROVE

For many women, caring for family, building a career, and being there for the people they love can mean their own goals quietly move to the background. But what happens when you finally ask, “What do I want next?”

Wealth Advisor Kim O’Brien shares how women can begin making room for themselves—without giving up their desire to support the people who matter most. Her three-step approach offers a thoughtful way to imagine what’s possible, clarify what matters most, and align your financial decisions with the future you want to create. If you’re ready to make yourself part of the plan, read the full article below.

OWN YOUR WEALTH

Helping independent women create a future that reflects their priorities, supports the people they love, and still leaves room for themselves.

02

Clarify your priorities – identify the people, experiences, goals, and values you want your future to reflect.

03

Build a roadmap to the future you envision – one that aligns your financial decisions with the life you're working toward.

VIRTUAL EVENT SERIES

Women as Agents of Social Change

A Conversation on Wealth, Confidence, and the Power of Investing in What Matters to You

Don't miss our next Signature Women Series event featuring Haleh Moddasser, Wealth Advisor and Managing Director of HTSW Chapel Hill, in conversation with Kristin M. Reynolds, Parter & Practice Group Director of New England Pension Consultants (NEPC). Together, they'll explore the increasing financial influence of women, the power of values-based investing, and how financial decisions can drive positive social change.

Attendees will gain valuable insights from Haleh's research on women and wealth, learn how to align investments with personal values, and participate in an interactive live poll on how women can be catalysts for change.

TUESDAY, SEPTEMBER 22, 2026   |   2:00 PM ET / 1:00 PM CT

WHAT WE'RE READING, WATCHING & RECOMMENDING

Share

The Midlife Chrysalis

The Midlife Chrysalis is a one-hour podcast hosted by Chip Conley, bestselling author of Learning to Love Midlife and founder of MEA (Modern Elder Academy). In intimate, deeply personal conversations with guests including Maria Shriver, Hoda Kotb, and Elizabeth Gilbert, Chip explores the turning points that can reshape who we are—and who we’re becoming—in midlife.

With honesty, vulnerability, and plenty of hard-won wisdom, guests open up about navigating change, letting go of old identities, redefining success, and finding new meaning and possibility in the years ahead. Listeners come away feeling less alone in their own transitions and with fresh perspective and practical inspiration.

Hightower clients will continue to receive necessary non-marketing, transactional emails.