DBT Bureau
Pune, 15 Jan 2026
Geojit Investments, in its latest commodities report, noted that gold and silver scaled fresh record highs amid softer-than-expected U.S. inflation data, rising expectations of interest rate cuts, and heightened geopolitical tensions, while crude oil prices eased and base metals showed mixed trends.
- Gold spot surged to a new all-time high of USD4639.48 a troy ounce, while silver crossed the USD90 a troy ounce for the first time, after softer than expected U.S. inflation data strengthened expectations of interest rate cuts amid persistent geopolitical tensions.
- U.S. CPI data showed inflation holding relatively steady at 2.7% annually. Meanwhile, President Donald Trump welcomed the figures and renewed his call for Fed Chair Jerome Powell to implement “meaningful” interest rate cuts.
- U.S. job growth slowed in December 2025, with payrolls rising by just 50,000, falling short of expectations and November’s figure. Meanwhile, the unemployment rate eased to 4.4%, signaling a cooling labor market that could reinforce concerns over economic momentum and weigh on investor risk appetite.
- Escalating geopolitical tensions are amplifying risk aversion amid unrest in Iran, arrest and ouster of Venezuela’s President Nicolás Maduro and discussions of forcibly annexing or purchasing Greenland. These developments are fueling uncertainty and dampening investor appetite for riskier assets.
- Crude oil prices eased after four consecutive sessions of gains, weighed down by the resumption of Venezuelan exports and a buildup in U.S. crude and product inventories. However, concerns over potential Iranian supply disruptions amid deadly civil unrest continued to cast uncertainty over the market.
- Meanwhile, the U.S. President announced that any country conducting business with Iran will face a 25% tariff on trade with the United States. Iran, a major oil exporter, ships a significant portion of its crude oil to China.
- Chile’s copper output showed mixed performance in November. State-run Codelco reported a 3% year-on-year decline to 130,900 metric tonnes, while production at BHP’s Escondida, the world’s largest copper mine, slumped 12.8% to 94,400 tonnes. In contrast, Collahuasi, jointly operated by Glencore and Anglo American, posted a modest 2.7% increase to 37,700 tonnes.
- NYMEX natural gas prices steadied after reviving from monthly low while record flows to liquefied natural gas (LNG) export plants and forecasts for colder weather and higher heating demand over the next two weeks than previously expected, bolstered prices.
