DBT Bureau
Pune, 3 Dec 2025
Geojit Investments today released its latest commodity outlook, offering fresh insights into market trends and highlighting the most significant price movements across major global commodities.
- Spot gold slipped slightly ahead of key U.S. economic data releases scheduled for today, while silver eased marginally after reaching a new record high of USD 58.94 per troy ounce earlier.
- Copper prices rallied to all time high on both LME and MCX platforms, as leading Chinese smelters agreed to cut output in 2026, supported by record high premium offers from Codelco, the world’s largest copper producer.
- Meanwhile, the Indian rupee plunged to an all-time low of 90.32 against the U.S. dollar, fueling a rally in commodity prices across domestic markets.
- OPEC+ decided to keep oil output unchanged for the first quarter of 2026, signaling a slowdown in its efforts to reclaim market share amid concerns over a potential supply glut.
- From the 1st of December, OPEC+ will increase output by 137,000 barrels per day, similar modest increase in the output levels maintained in October and November.
- Crude oil prices rebounded on supply concerns, as traders kept a close watch on geopolitical tensions in Eastern Europe and Venezuela. Adding to these concerns, uncertainty over Russia-Ukraine peace talks has deepened, with expectations that sanctions on Russian crude may remain in place.
- U.S. President Donald Trump declared that “the airspace above and around Venezuela” should be considered closed, adding fresh uncertainty to the oil market as the South American nation remains a key producer.
- NYMEX natural gas futures surged to almost three year high, supported by record flows to liquefied natural gas export plants and forecasts for colder weather and higher demand than expected over the next two weeks.
- U.S. liquefied natural gas (LNG) exports hit a record monthly high in November for the second consecutive month, driven by cooler weather and strong output from the nation’s two largest producers.
- China’s manufacturing PMI signaled contraction in November, reflecting sluggish demand and indicating that progress in U.S. trade talks has yet to translate into a meaningful demand recovery.
