DBT Bureau
Pune, 11 Dec 2025
Geojit Investments today released its latest commodity outlook, highlighting steady gold, record-setting silver, copper nearing all-time highs, and mixed crude oil cues driven by geopolitical developments and OPEC+ decisions, alongside key macro signals such as the Fed’s rate cut, a softer dollar, and China’s weak manufacturing data.
- Gold held steady after the U.S. Federal Reserve delivered a divided decision on cutting interest rates, leaving investors uncertain about the pace of easing in the coming year, while silver extended its rally to hit another record high.
- U.S. Federal Reserve lowered interest rates by 25 basis points to a target range of 3.50%–3.75% in its policy meeting, while signaling a likely pause in further cuts as officials await clearer indications on labor market trends and inflation, which remains somewhat elevated.
- U.S. Dollar index, a measure of greenback against its six rival currencies, slipped after the Fed’s dovish move.
- Copper prices moved closer to record highs on both the LME and MCX, supported by a weaker U.S. dollar following the Fed’s dovish stance and persistent supply constraints.
- Crude oil prices slipped on hopes for Russia-Ukraine peace talks, while markets kept a close watch on potential repercussions from the U.S. seizure of a sanctioned oil tanker off Venezuela’s coast.
- 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.
- China’s crude oil imports rose 4.88% to 12.38 million barrels per day in November from a year earlier, with daily import volumes reaching the highest level since August 2023.
- NYMEX natural gas futures extended the decline from nearly a three-year high, pressured by forecasts for milder weather over the next two weeks, near-record production levels, abundant storage, and weaker global prices.
- 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.
