Commodity Market Wrap-Up – May 29, 2025
On May 29, 2025, the commodity markets experienced mixed movements influenced by global economic cues, geopolitical developments, and supply-demand dynamics. Here’s a comprehensive overview of the day’s performance across key commodities:
Gold: Slight Decline Amid Strengthening Dollar
- Price Movement: Gold prices in India witnessed a modest decline. The 24-carat gold rate stood at ₹95,530 per 10 grams, down by ₹170 from the previous day.
- Market Insight: The dip in gold prices is attributed to the strengthening of the U.S. dollar following a federal court’s decision to block certain trade tariffs.
- Technical Outlook: Gold is currently consolidating, with immediate support at ₹94,500 and resistance at ₹96,000.
Silver: Marginal Decline Reflects Cautious Sentiment
- Price Movement: Silver prices in India saw a slight decrease, trading at ₹99.90 per gram or ₹99,900 per kilogram.
- Market Insight: The marginal decline in silver prices reflects cautious investor sentiment amid global economic uncertainties.
- Technical Outlook: Silver faces immediate resistance at ₹101,000, with support at ₹98,500.
Crude Oil: Prices Rise on Geopolitical Developments
- Price Movement: Brent crude futures rose to approximately $65.09 per barrel, marking a second consecutive session of gains.
- Market Insight: The increase in oil prices is driven by reduced tariff risks following a U.S. court ruling and potential new U.S. sanctions targeting Russian crude.
- Technical Outlook: Crude oil is exhibiting bullish momentum, with resistance at $66.00 and support at $63.00.
🔵 Natural Gas: Slight Increase Amid Market Dynamics
- Price Movement: Natural gas prices experienced a modest increase, trading at $3.539 per MMBtu.
- Market Insight: The slight uptick in natural gas prices is influenced by factors such as LNG market dynamics and seasonal demand variations.
- Technical Outlook: Natural gas faces resistance at $3.60, with support at $3.50.
🌐 Global Cues Impacting Commodity Markets
- Economic Indicators: Global markets are reacting to recent policy decisions, including tariff changes and central bank announcements, which are influencing commodity prices.
- Geopolitical Developments: Ongoing geopolitical tensions and decisions by major economies are contributing to market volatility, particularly in energy commodities.
Final Thoughts
- Gold & Silver: Benefiting from Fed expectations and geopolitical risks.
- Crude Oil: Under pressure from weak demand signals; OPEC+ meeting crucial.
- Natural Gas: Struggling with oversupply, needs hotter weather for a rebound.
Stay tuned for more updates tomorrow as we track US PCE inflation data and OPEC+ chatter—key catalysts for next week’s moves!
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