DBT Bureau
Pune, 6 June 2026
According to the latest report from Geojit Investments Limited, precious metals traded lower amid concerns over persistent inflation and higher interest rates, while crude oil remained supported by ongoing geopolitical tensions in the Middle East and expectations of tighter global supply-demand balances.
- Precious metals declined as diminishing hopes for a quick resolution to the Middle East conflict heightened concerns about rising inflation and sustained higher interest rates.
- Meanwhile, investor attention turned to the upcoming non-farm payrolls and unemployment data scheduled for release later today for fresh insights on Fed’s monetary policy path.
- Federal Reserve Chairman Kevin Warsh, in his opening message as new chair, emphasized maintaining the Fed’s core traditions while signaling a willingness to review and potentially change certain policies during his four-year term.
- The Iran-backed Hezbollah militia rejected a new ceasefire in Lebanon and Israel said it would not withdraw troops from the country. Subsequently, the prospects of proposed U.S.–Iran agreement to extend the ceasefire and resume shipping through the Strait of Hormuz remain increasingly uncertain.
- India has tightened restrictions on silver imports by adding grain and powder forms to the list of restricted categories and mandating prior valid import authorization, as the world’s biggest consumer of the metal tries to rein in shipments and ease pressure on the rupee.
- Crude oil prices edged lower today but were still on track for a weekly gain, supported by ongoing uncertainty surrounding a potential U.S.–Iran peace agreement.
- 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.
- Indian refiners turned to imports from Latin America and Africa after supplies from the Middle East were disrupted.
- Iranian oil prices slipped into discounts for the first time since April, while Russian crude premiums eased as traders cut prices to entice Chinese buyers amid sluggish demand.
- NYMEX natural gas futures hovered near a 16-week high on forecasts for warmer weather and higher demand than previously expected in the next week and a continued drop in output in recent days.
