Daily Commodity Insights Nov 06, 2026 by Religare Broking Ltd
Highlights
* The Republican Party’s losses in the congressional elections have prompted investors to reassess the prospects for a negotiated settlement with Iran. Democrats’ victories in both chambers of Congress could give them greater leverage to challenge military funding and constrain the administration’s options when the new Congress takes office in January
Gold (Dec)
Gold prices hit a more than two-week high on Thursday as US dollar and Treasury yields weakened after lower oil prices eased inflation concerns, while investors awaited key US payrolls data for rate policy clues.
Crude Oil
* Oil prices fell on Thursday as investors assessed the implications of the U.S. midterm elections, which could increase political pressure on President Donald Trump to seek an end to the war involving Iran and reduce the risk of further military escalation
Natural Gas (Nov)
* The latest data from the Energy Information Administration (EIA) reveals a notable shift in U.S. natural gas storage levels, with implications for both the energy market and the Canadian dollar. The EIA’s recent report indicates that natural gas in underground storage increased by 77 billion cubic feet over the past week..
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