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Below the Commodity Market updates on bullion and crude oil from Pinky Yadav, Commodity Fundamental Analyst at Choice Broking

Bullion

MCX Gold prices remain under pressure as persistent US inflation, elevated oil prices and resilient growth reinforce expectations of a December Fed rate hike. September PCE inflation rose 0.5%, its strongest monthly increase since March, keeping December rate-hike expectations elevated near 75%. Although the US dollar index weakened towards 101.5 and Treasury yields declined amid technology-sector uncertainty, However, downside risks are uncertain by geopolitical tensions and Trump-driven mistrust, prompting several nations to repatriate gold reserves from New York vaults to ensure sovereign control amid deepening global uncertainty.

Crude Oil

MCX Crude oil prices advanced, heading for a fourth consecutive monthly gain as escalating Middle East tensions heightened concerns over supply disruptions. An attack on a tanker in the Strait of Hormuz and reported Houthi strikes on key Saudi oil infrastructure reinforced geopolitical risk premiums. Meanwhile, diplomatic efforts between Washington and Tehran remain uncertain. Upcoming Israeli elections and US midterm polls could further intensify geopolitical uncertainty and trigger heightened volatility in crude oil markets.

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