Commodity Morning Insights 04th Sept 2025 - Axis Securities
Commodity Derivatives Snapshot
* Comex Gold extended its winning streak to a seventh straight session, gaining nearly 1% in the previous trade. A similar run was last seen in Mar’24, underscoring the strong bullish undertone in the metal. Expectations of an imminent rate cut, rising economic uncertainty, and steady inflows into gold ETFs have strengthened safe-haven demand, drawing investors toward bullion. Market attention now shifts to this week’s non-farm payroll data, which could set the tone for the next directional move.
* Nymex Crude Oil slumped by almost 3% in the last session as supply concerns eased after the Trump administration’s sanctions on Iran, while OPEC+ signalled the possibility of higher production levels. Additionally, weak U.S. economic data weighed on demand prospects. However, losses were partly cushioned by a softer dollar.
* Comex Copper edged lower by nearly 0.5% in the previous session, pressured by weak U.S. economic readings that triggered profit booking. Still, a weaker dollar helped limit the downside at lower levels.
* Nymex Natural Gas advanced for a second consecutive session, climbing more than 3% on forecasts of hotter weather across the U.S. The outlook for higher electricity demand to power air conditioning systems supported buying interest in the counter.
Gold
Silver
Crude Oil
Copper
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