Commodity Daily Insights 15th October 2026 By - HDFC Securities Ltd
GLOBAL MARKET ROUND UP
Precious metals recovered on Thursday after heavy losses in the previous session, with spot gold trading above $4,150 an ounce. The rebound was supported by a decline in crude oil prices, which ended a fivesession rally, along with a pullback in the U.S. dollar and Treasury yields, easing pressure on bullion. The dollar slipped from an 18-month high despite hotter-than-expected U.S. inflation, as cautious comments from Federal Reserve officials and lower Treasury yields prompted traders to scale back expectations of an October rate hike.
However, concerns over a more hawkish Fed stance continued to weigh on sentiment after the U.S. Consumer Price Index rose 3.7% in September, above market expectations of 3.6%, driven largely by higher energy costs. Gold’s immediate focus is on the $4,200–$4,219 zone. A sustained move above $4,219 would strengthen the recovery, while a renewed rise in Treasury yields and the U.S. dollar could push prices back towards the $4,100 area.
WTI crude oil futures fell towards $94 a barrel on Thursday, ending a five-session winning streak as profittaking and technical correction emerged after the recent rally. Investors also assessed reports that the U.S. may ease sanctions on shadow-fleet vessels transporting oil and petroleum products from Russia, Iran and Venezuela, potentially helping reduce elevated global freight costs. However, supply concerns remained elevated after a container ship sank in the Strait of Hormuz following a reported projectile strike, while Iran-backed Houthi forces continued missile and drone attacks across Saudi Arabia.
Meanwhile, API data showed U.S. crude inventories fell by 11.12 million barrels in the week ended October 9, sharply exceeding expectations for a 1.9-million-barrel increase and marking the largest draw since late January. Market focus now turns to the official EIA inventory report for confirmation of the drawdown.
Natural gas futures gave back most of the previous session’s gains as production recovered, while market focus shifted to today’s EIA weekly storage report. The market expects a 75 Bcf injection, below the fiveyear average, which would narrow the storage surplus to 53 Bcf from 68 Bcf in the previous week.
Gold
• Trading Range: 144480 to 148675
• Intraday Trading Strategy: Buy Gold Mini Nov Fut at 145750-145775 SL 144900 Target 146480/147050
Silver
• Trading Range: 207500 to 215900
• Intraday Trading Strategy: Sell Silver Mini Nov Fut at 213050-213075 SL 215900 Target 210780/209050
Crude Oil
• Trading Range: 8705 to 9150
• Intraday Trading Strategy: Buy Crude Oil Oct Fut at 8900-8905 SL 8817 Target 9005/9075
Natural Gas
• Trading Range: 301 to 323
• Intraday Trading Strategy: Sell Natural Gas Sep Fut at 314-315.5 SL 319 Target 309.80/307
Copper
• Trading Range: 1388 to 1417
• Intraday Trading Strategy: Buy Copper Oct Fut at 1392-1394.0 SL 1388.5 Target 1401/1404.8
Zinc
• Trading Range: 409 to 421
• Intraday Trading Strategy: Buy Zinc Oct Fut at 413.0- 413.50 SL 410.8 Target 417.8/419.0
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