Commodity Morning Insights - 15 May 2025 by Axis Securities
Commodity Derivatives Snapshot
* Comex Gold extended losses in the previous session, plunging over 2% to hit a four-week low as safe-haven demand waned amid easing global trade tensions. The decline in bullion appeal was further reinforced by the stabilisation of geopolitical risks, notably the easing of India-Pakistan tensions and growing optimism surrounding potential U.S. sanctions relief on Syria during President Trump's visit to the Middle East
* Nymex Crude Oil halted its four-day winning streak, pressured by profit booking and a surprise build in U.S. crude inventories. Sentiment turned cautious after the American Petroleum Institute reported a 4.3 Mn barrel increase in crude stockpiles last week, marking the largest rise since Mar’25, if confirmed by the EIA. However, gasoline and distillate inventories offered some balance, falling by 1.4 Mn and 3.7 Mn barrels respectively, ahead of the peak summer driving season
* Comex Copper failed to hold near its recent multi-week highs and closed lower by over 1%, as a firmer U.S. dollar and weaker-than-expected global macroeconomic data dampened sentiment across industrial metals
* Nymex Natural Gas continued its downward trajectory for the third consecutive session, tumbling ~4%. The selloff was driven by a smaller-than-expected decline in output and forecasts for subdued demand in the coming week, primarily due to reduced gas flows to LNG export facilities amid ongoing spring maintenance
Commodities Daily Insights
Commodity MCX GOLD
CMP 92265(-1.48%)
Prior Day’s Range 92022-93666
Today’s Implied Range* $3136.1-$3221.7
Commodity MCX SILVER
CMP 95466(-1.34%)
Prior Day’s Range 95025-97053
Today’s Implied Range* $31.96-$32.67
Commodity MCX CRUDE OIL
CMP 5418(-0.22%)
Prior Day’s Range 5354-5436
Today’s Implied Range* $61.23-$63.87
Commodity MCX COPPER
CMP 859.7(-0.05%)
Prior Day’s Range 855.75-865
Today’s Implied Range* $4.59-$4.69
For More Axis Securities Disclaimer https://simplehai.axisdirect.in/disclaimer-home
SEBI Registration number is INZ000161633
