Commodity Insights

Gold
Spot gold hit a fresh record near $4,630/oz on strong safe-haven demand and a weaker dollar, as markets turned uneasy over perceived threats to central bank independence following reports of a U.S. prosecutors’ probe linked to Fed Chair Jerome Powell.
Today, gold has cooled below the $4,580/oz zone as traders await key US macro triggers (CPI, retail sales, jobless claims) and FOMC commentary, which can swing rate-cut expectations and near-term direction.
Bias remains bullish but volatile: any renewed dollar weakness or geopolitical flare-up can quickly push gold back toward the record zone.

Silver
Silver also printed a new lifetime high near $86.22/oz, riding the same safe-haven wave and stronger investment demand.
With the gold–silver ratio slipping toward the long-term comfort band (~50–60), silver’s relative strength remains visible, though near-term profit-taking has dragged it below $85/oz as the market turns data-dependent.
Trend stays constructive, but expect sharp intraday swings around US data and Fed headlines.

Crude Oil (WTI)
WTI extended gains, moving toward $60/bbl, as geopolitical risk premium stayed elevated amid escalating unrest in Iran (a key OPEC producer) and broader supply-risk nerves.
Fresh support also came after President Trump said countries doing business with Iran could face a 25% tariff on all trade with the US, adding uncertainty on enforcement and potential knock-on effects for energy flows.
Near-term upside may face checks from expectations that Venezuela could resume exports, but the bias remains firm as long as geopolitics stays hot.