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Commodity Derivatives Snapshot

* In the previous session, COMEX Gold slumped ~3% to a one-month low, as improved investor sentiment and easing geopolitical tensions curbed demand for traditional safe-haven assets. The decline followed a significant breakthrough in US-China trade talks, held in Switzerland over the weekend. In a surprising move, the US announced a reduction in tariffs on Chinese goods—from 145% to 30%—while China reciprocated by slashing levies on US imports from 125% to 10%. These adjustments, effective for 90 days, boosted risk appetite across global markets. A ceasefire agreement between India and Pakistan further fueled optimism, easing geopolitical risk premiums

* Nymex Crude Oil extended its winning streak for a third straight session, with prices briefly touching a two-week high of $63.6. However, the rally lost steam toward the close, as traders opted to book profits amid lingering concerns over global supply abundance

* Comex Copper closed marginally lower, pressured by a strengthening US dollar, which reclaimed the 101 mark, and a notable increase in domestic stockpiles. Rising US inventories, coupled with subdued global industrial demand, weighed on investor sentiment, and capped any upside momentum in the red metal 

* Nymex Natural Gas were volatile throughout the session, ultimately ending more than 1% lower. Prices pulled back from recent one-month highs, driven by strong supply levels that outweighed expectations for higher cooling demand. The latest EIA report revealed a 104 Bcf injection into underground storage for the week ending 2nd May, 2025, well above the five-year average of 79 Bcf, as mild weather kept air conditioning usage relatively low .

Commodity Derivatives Snapshot 

Commodity MCX GOLD

CMP 92901(-3.75%)

Prior Day’s Range   92389-95500

Today’s Implied Range* $3204.33-$3259.53

Commodity MCX SILVER 

CMP 95344(-1.43%)

Prior Day’s Range  93867-96650

Today’s Implied Range*  $32.51-$33.04

Commodity  MCX CRUDE OIL

CMP 5292(1.53%)

Prior Day’s Range 5195-5399

Today’s Implied Range*  $61.48-$62.3

Commodity  MCX COPPER

CMP 851.3(-0.04%)

Prior Day’s Range  849.15-855.45

Today’s Implied Range*  $4.59-$4.65

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