Commodity Morning Insights 02nd March 2026 by Axis Securities
Gold prices were mixed in the last session after a third round of nuclear talks between Washington and Tehran concluded in Geneva, Switzerland. Ongoing U.S. tariff uncertainty continued to underpin safe-haven demand, with markets closely tracking further diplomatic developments around Iran’s nuclear program
Silver slipped below $89 per ounce, retreating from Wednesday’s three-week high of $91.3, as easing geopolitical risk premiums and a firm interest rate outlook weighed on sentiment. A resilient U.S. dollar and sticky January PCE inflation at 3% reinforced expectations that the Federal Reserve will keep rates steady, limiting upside in the metal
WTI Crude Oil settled mixed in volatile trading, briefly touching a one-week low. Prices fluctuated between gains and losses amid persistent uncertainty over U.S.–Iran negotiations, keeping traders cautious
Natural Gas tumbled to a five-month low, pressured by a smaller-than-expected storage draw and a warmer U.S. weather outlook, which could curb heating demand. The EIA reported a 52 bcf decline in inventories for the week ended 20th February, well below the five-year average draw of 168 bcf
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Silver
Crude Oil
Copper
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