DBT Bureau
Pune, 4 Dec 2025
Geojit Investments today released its latest commodity outlook, offering a concise snapshot of key global market trends and major price movements across metals, energy, and macro indicators.
- Gold spot prices slipped as investors booked profits and adopted a cautious stance ahead of next week’s U.S. Federal Reserve meeting. Market participants are seeking clearer signals on the central bank’s interest rate trajectory, with recent data adding to uncertainty.
- U.S. private payrolls fell by 32,000 in November, the steepest decline in over two and a half years, raising concerns about labor market resilience. Attention now turns to the delayed non-farm payrolls report, expected to provide critical insight into economic health.
- Copper prices hit fresh record high on both LME and MCX platforms before pulling back, as leading Chinese smelters agreed to cut output in 2026, supported by record-high premium offers from Codelco, the world’s largest copper producer.
- OPEC+ decided to keep oil output unchanged for the first quarter of 2026, signaling a slowdown in its efforts to reclaim market share amid concerns over a potential supply glut. From the 1st of December, OPEC+ will increase output by 137,000 barrels per day.
- Crude oil prices steadied as traders kept a close watch on geopolitical tensions in Eastern Europe and Venezuela. Adding to these concerns, uncertainty over Russia-Ukraine peace talks has deepened, with expectations that sanctions on Russian crude may remain in place.
- NYMEX natural gas futures climbed above $5 per mmBtu, highest in almost three years, driven by record LNG export flows and forecasts for colder weather and stronger-than-expected demand over the next two weeks.
- U.S. liquefied natural gas (LNG) exports hit a record monthly high in November for the second consecutive month, driven by cooler weather and strong output from the nation’s two largest producers.
- China’s manufacturing PMI signaled contraction in November, reflecting sluggish demand and indicating that progress in U.S. trade talks has yet to translate into a meaningful demand recovery.
