DBT Bureau
Pune, 14 May 2026
Global commodity markets remained volatile as investors tracked U.S.-China diplomatic talks, persistent Iran conflict risks, rising inflation pressures, and tightening supply conditions across oil, metals, and energy markets. Below are the key developments across precious metals, crude oil, and industrial commodities.
- Spot gold held steady as investors monitored discussions between U.S. President Donald Trump and China’s Xi Jinping for indications of progress toward resolving the Iran conflict. Meanwhile, spot silver edged lower after testing a two month high in the previous session.
- U.S. inflation number from April reinforced the likelihood of a prolonged higher for longer interest rate environment. U.S. inflation rose 3.8% annually, on supply disruptions from U.S.–Iran tensions and transit restrictions, which are pushing up consumer goods prices.
- U.S. Senate approved Kevin Warsh as chair of the Federal Reserve, has heightened market focus on potential shifts in monetary policy direction under the incoming leadership.
- India has raised import tariffs on gold and silver to 15% from 6%, as part of efforts to curb overseas purchases of the metals and ease pressure on the country’s foreign exchange reserves.
- International Energy Agency said that the global oil supply is expected to fall short of demand this year, as the Iran conflict disrupts Middle East production and tightens market balances.
- Crude oil prices inched up with moderate gains, as markets awaited updates on the fragile Middle East ceasefire and the Trump–Xi summit in Beijing.
- Russia’s crude oil production declined by 460,000 barrels per day in April from the same month a year ago to around 8.8 million bpd.
- A Chinese supertanker carrying two million barrels of Iraqi crude sailed through the Strait of Hormuz on Wednesday after being stranded in the Gulf for more than two months due to the U.S.-Iran war.
- Copper output at Chile’s state owned Codelco declined 9.98% yoy in March to 110,900 tonnes. Production at Escondida, the world’s largest copper mine, dropped 15.75% to 101,600 tonnes, while Collahuasi, operated by Glencore and Anglo American, saw output fall 10.80% to 31,400 tonnes.
- China’s producer prices rose 2.8% year-on-year in April, while consumer inflation also exceeded expectations, rising 1.2% annually, driven.
Source: Geojit Investments
