DBT Bureau
Pune, 13 August 2026
According to Geojit Investments’ commodities data, precious metals remained firm, with spot gold easing slightly but holding near a fresh 10-week high after softer-than-expected U.S. inflation reduced expectations of near-term Federal Reserve rate hikes. Below are the key commodities market details:
- Spot gold eased today but hovered in the vicinity of a fresh 10-week high, as softer than expected U.S. inflation data reduced expectations of near-term Federal Reserve rate hikes, pushing the non-yielding metal to its highest level in more than two months.
- Spot gold slipped below USD 4400 per troy ounce, while spot silver traded around USD 65 per troy ounce, shedding nearly 1%.
- The U.S. inflation rate slowed to 3.4% annually in July from 3.5% in June, indicating a modest easing in price pressures.
- Tensions in Middle East resurfaced after the U.S. and Yemen’s Iran-backed Houthi rebels reported separate attacks on shipping vessels on Tuesday, while hopes of resolving the Iran conflict weakened after Iran stated that the Strait of Hormuz would remain closed unless U.S. agrees to its demands.
- Meanwhile, crude oil prices declined amid expectations of softer global demand growth and rising U.S. crude stockpiles, while supply concerns stemming from the impasse over the Strait of Hormuz blockade and related disruptions provided some support.
- Copper prices in LME and MCX platforms hovered higher, with London copper remaining close to a six-month peak after the Democratic Republic of Congo imposed a ban on copper and cobalt concentrate exports, raising supply concerns.
- London zinc futures trading near four-year highs as zinc inventories in LME registered warehouses remained at multi-year lows after declining sharply during the first half of the year, highlighting physical market tightness.
- U.S. natural gas production and consumption are expected to reach record levels in 2026, according to the Energy Information Administration. The EIA forecasts dry gas output to increase from a record 107.6 billion cubic feet per day in 2025 to 111.2 bcfd in 2026, before rising further to 116.0 bcfd in 2027.
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