Commodity Morning Insights 26th Jun 2025 - Axis Securities Ltd
Comex Gold recovered in the previous session, settling with a modest gain of 0.3%, as the U.S. dollar weakened after trading firmly for most of the day. While the short-term bias remains bearish due to easing geopolitical tensions in the Middle East, any renewed flare-up or continued dollar softness could quickly reignite safe-haven demand for gold. Volatility is expected in the evening session, with market participants awaiting the release of Final GDP and Jobless Claims data from the U.S
* Nymex Crude Oil ended the session nearly unchanged after a sharp 12% correction in recent days, driven by easing geopolitical tensions. However, a supportive inventory report helped limit further downside, providing some stability to prices. In the morning session, prices are trading with a positive bias as President Trump reiterated the U.S. administration’s commitment to its “maximum pressure” policy on Iran, including continued restrictions on oil exports
* Comex Copper extended its winning streak for a third straight session, closing with a marginal gain of 0.5%. Industrial metals found support from falling global inventories, a weaker dollar index, and improved risk sentiment following the ceasefire in the Middle East, which eased investor concerns and supported buying interest
* Nymex Natural Gas continued its downward trajectory for the fourth consecutive session, with prices falling nearly 3% in the last trade. The decline was driven by weak demand outlook and ample supplies, which kept pressure on prices despite a recent heatwave in parts of the U.S.
Gold
Silver
Crude Oil
Copper
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