Key Market Highlights
- Crude Oil witnessed sharp selling pressure, with WTI crude falling 5.57% to $80.15/bbl and Brent crude declining 4.74% to $83.19/bbl, indicating concerns over global demand and easing geopolitical risk premiums.
- Natural Gas remained weak, down 2.26%, while European gas benchmark TTF Gas dropped 5.46% and UK Gas fell 6.55%, reflecting softer energy market sentiment.
- Gasoline and Heating Oil also corrected sharply, declining 3.30% and 3.95%, respectively, tracking the broader weakness in crude prices.
- Coal prices remained relatively resilient, slipping only 1.88%, while still maintaining strong long-term gains of over 38% on a YTD basis.
- Gold emerged as the standout performer, rising 2.49% to $4,326.99/oz, supported by safe-haven demand amid global uncertainty and expectations of monetary easing.
- Silver outperformed all major metals, surging 3.97% to $70.45/oz, extending its strong momentum and delivering an impressive 94.28% YoY gain.
- Copper gained 1.61%, reflecting optimism around industrial demand and infrastructure spending, while maintaining a robust 14.98% YTD return.
- Steel prices remained largely stable, easing marginally by 0.32%, suggesting balanced demand-supply conditions in industrial markets.
- The session highlighted a clear divergence between energy and precious metals, with investors rotating away from oil-linked assets toward traditional safe-haven commodities.
- While energy markets faced broad-based declines across crude, gas and refined products, precious metals benefited from risk-off sentiment, positioning gold and silver among the strongest-performing asset classes globally.
