Commodity Morning Insights : Comex Gold prices soared to an all-time high in the morning session - Axis Securities
Commodity Derivatives Snapshot
* Comex Gold prices soared to an all-time high in the morning session, reaching $3,167 per ounce, as heightened geopolitical uncertainty fueled safe-haven demand. The rally was triggered by President Trump's announcement of an aggressive reciprocal tariff policy, which exceeded market expectations. The move escalated concerns over a potential global trade war, prompting investors to seek refuge in gold
* Nymex Crude Oil settled 0.5% lower in the previous session, extending its decline as prices opened over 1% weaker following Trump's tariff announcement. While imports of oil, gas, and refined products were notably exempt, the sweeping tariffs—set at a 10% baseline, with levies of 34% on China and 20% on the European Union—raised concerns over broader economic repercussions and potential demand erosion in the energy market
* Comex Copper prices tumbled in early trade as President Trump unveiled a more aggressive reciprocal tariff policy, heightening fears of a prolonged trade conflict. The additional 34% tariff on Chinese imports, which brings total levies on the country to 54%, deepened market uncertainty. The move casts a shadow over China’s economic outlook, raising concerns about weaker demand from the world’s largest copper consumer
* Nymex Natural Gas snapped a two-day losing streak, climbing more than 1.6% as a drop in daily output and revised forecasts pointed to stronger demand over the next two weeks. The combination of reduced supply and higher consumption expectations provided support to prices, reversing the recent downward trend
Commodity - MCX GOLD
CMP - 90728(-0.16%)
Prior Day’s Range - 90520-91232
Today’s Implied Range* $3103.61-$3182.55
Commodity - MCX SILVER
CMP - 99753(0.29%)
Prior Day’s Range - 99326-100374
Today’s Implied Range* - $33.1-$34.43
Commodity - MCX CRUDE OIL
CMP - 6147(0.47%)
Prior Day’s Range - 6051-6155
Today’s Implied Range* - $69.32-$71.6
Commodity - MCX COPPER
CMP - 890.6(-0.37%)
Prior Day’s Range - 889.05-898.8
Today’s Implied Range* - $4.79-$5.18
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