DBT Bureau
Pune, 14 Jan 2026
Geojit Investments said in its latest commodities report that precious metals, energy, and base metals traded mixed, with gold easing ahead of key US inflation data, oil gaining on geopolitical risks, and copper and natural gas showing divergent supply-demand signals.
- Gold spot slipped below USD4,600 per troy ounce as investors grew cautious ahead of US inflation data due for release later today that could give more insights into the Federal Reserve’s monetary policy stance. Meanwhile, silver spot steadied slightly below the record high of USD86.22 per troy ounce.
- 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.
- 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.
- Crude oil prices extended gains as escalating concerns over Iran and potential supply disruptions outweighed expectations of increased output from Venezuela.
- 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 a two-and-a-halfmonth low while forecasts point to mostly mild weather over these two weeks, continue to pressure prices.
