DBT Bureau
Pune, 29 Sep 2026
According to Geojit Investments’ commodities data and report, the commodities market remained influenced by inflation concerns, geopolitical tensions, supply disruptions and changing demand conditions. Key developments included:
- Precious metals edged lower as rising crude oil prices heightened inflation concerns, reinforcing expectations that interest rates may remain elevated. Meanwhile, U.S. President Donald Trump’s rejection of Iran’s proposed peace deal aimed at ending the conflict and reopening the Strait of Hormuz kept geopolitical tensions in the Middle East firmly in focus.
- Spot gold eased to around USD 4150 per troy ounce, marking its lowest level in seven weeks, while spot silver hovered near USD 61 per troy ounce amid continued pressure across precious metals markets.
- The Federal Reserve raised interest rates to a range of 3.75% to 4.00% and signaled additional rate hikes in the months ahead. The central bank noted that inflation remains elevated and emphasized that the latest policy action is intended to support a timely return to its 2% inflation target.
- Crude oil prices jumped after U.S. rejected Iran’s proposed peace deal aimed at resolving the conflict and reopening the Strait of Hormuz, keeping supply disruption concerns elevated. NYMEX crude rose above USD 95 per barrel, while Brent crude climbed to around USD 108 per barrel.
- Crude oil exports through the Strait of Hormuz reached 33.7 million barrels during the week, compared to 49.2 million barrels of crude shipped out via Hormuz in the preceding week.
- China’s aluminium production rose by 4.7 % to 3.98 million metric tonnes in August from a year earlier. In the first eight months of the year, China produced 31.12 million metric tonnes, a rise of 3.9 % from the same period last year.
- Europe’s gas storage facilities, which serve as a safeguard against supply disruptions and price volatility during the peak winter demand season, are currently 69% full, compared with the five-year average of 85% for this time of year.
- Base metals declined across both the LME and MCX, led by losses in copper, as weak economic data from top consumer China, rising crude oil prices, and a stronger U.S. dollar weighed on the demand outlook and dampened market sentiment.
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