DBT Bureau
Pune, 18 April 2026
According to latest report of Geojit Investments, global commodity markets witnessed a bullish undertone this week, as gains in precious metals and shifts in energy prices were driven by easing geopolitical tensions, a weaker U.S. dollar, and evolving supply dynamics across oil and metals sectors.
- Precious metals are on track of fourth straight weekly gain supported by a weaker U.S. dollar and falling Treasury yields, as improved investor sentiment reflected hopes for an end to the Middle East conflict.
- Spot gold traded slightly below USD 4800 per troy ounce, while spot silver traded near USD 80 per troy ounce.
- Market grew optimistic about a possible end in the Middle East conflict, after the U.S. administration voiced hopes for an agreement that would reopen the strategically vital Strait of Hormuz.
- U.S. inflation accelerated to 3.3% in March, signaling that the fallout from the Iranian crisis was beginning to feed through to prices.
- US Dollar index, a measure of greenback against six currency rivals, seen around its lowest level in six weeks near 98 marks.
- Crude oil prices declined as prospects of renewed U.S.–Iran talks this weekend and a 10-day ceasefire between Lebanon and Israel boosted hopes that the Middle East conflict may be close to ending.
- Iran’s new attacks on Saudi energy facilities have cut the kingdom’s oil production capacity by around 600,000 barrels per day and throughout on its East-West Pipeline by about 700,000 bpd.
- OPEC+ agreed to raise its oil output quotas by 206,000 barrels per day for May, a modest rise that will largely exist on paper as its key members are unable to raise production due to the U.S.-Israeli war with Iran.
- Emirates Global Aluminium said fully restoring primary aluminium production at its Al Taweelah smelter in the UAE that was hit by an Iranian attack late last month could take up to a year.
- China’s primary aluminium production in March rose 2.7% yoy, as supply fears linked to the Iran conflict supported prices of the light metal. Aluminium production climbed to 3.85 million metric tons in March.
