DBT Bureau
Pune, 12 Dec 2025
- Gold spot prices surged, nearing their all-time high, while silver spot set a new record at USD 64.35 per troy ounce. Silver continues its relentless rally, driven by strong industrial demand, dwindling inventories, and its recent inclusion on the U.S. critical minerals list.
- U.S. Federal Reserve lowered interest rates by 25 basis points to a target range of 3.50%–3.75% in its policy meeting, while signaling a likely pause in further cuts as officials await clearer indications on labor market trends and inflation, which remains somewhat elevated.
- Copper prices marked a new record on both the LME and MCX, supported by a weaker U.S. dollar following the Fed’s dovish stance and persistent supply constraints.
- Copper production from Chilean state-run miner Codelco fell 14.3% in October, falling to 111,000 metric tonnes. Meanwhile production at BHP’s Escondida mine, the world’s largest copper mine, climbed 11.7% from the same month a year earlier to 120,600 tonnes. At Collahuasi, another major copper mine jointly run by Glencore and Anglo American, output fell 29.3% to 35,000 tonnes.
- Crude oil edged higher on supply disruptions in Venezuela, though it remains poised for a weekly loss as a potential Russia-Ukraine peace deal remain in focus.
- 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.
- China’s crude oil imports rose 4.88% to 12.38 million barrels per day in November from a year earlier, with daily import volumes reaching the highest level since August 2023.
- NYMEX natural gas futures extended the decline to a five week low, pressured by forecasts for milder weather over the next two weeks, near-record production levels, abundant storage, and weaker global prices.
- 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.
