Commodity cycles reward patience more than prediction. The recent rally in gold, silver, and copper have already spoken about it. Crude oil has been silent, but in markets, long silences often precede the loudest moves.
Markets are likely to open sharply on edge Monday after US forces captured Venezuelan President Nicolás Maduro and his wife, charging them with drug trafficking following a major military operation on Saturday.
After a record bull run, a sharp decline in gold and silver prices should be viewed as a positioning reset rather than a breakdown of the long-term thesis, an analyst said.
Silver does offer greater upside potential but comes with higher volatility due to its reliance on industrial demand, an analyst said.
Easing geopolitical tensions and China’s export restrictions were among four key reasons behind the downturn.
Attention will be on the FOMC meeting minutes and weekly US jobless claims.
Frictions in Venezuela, where the US has blockaded oil tankers and ramped up pressure on the government of Nicolás Maduro, have added to the precious metal’s haven appeal.
Gold financier stocks hit fresh 52-week highs as rising geopolitical risks and higher Fed rate cut hopes boosted precious metal's prices.
With the upcoming holiday week likely to see thinner trading volumes, price action may be subdued.
While silver has taken the spotlight recently, the broader setup indicates that gold may be preparing for a catch-up phase, supported by both fundamentals and technical indicators.
The practice of banning commodities trading damages more than just immediate stakeholders—it undermines the credibility and trustworthiness of Indian exchanges and markets
Looking ahead, markets face a packed calendar of economic data and central bank decisions, keeping volatility elevated.
Hindustan Zinc share price: The sharp rise pulled up the shares of promoter Vedanta as well, which gained nearly 2% in the morning trading hours of Thursday.
Swap traders are expecting a quarter-point rate cut by the Fed but are now leaning toward two further moves by the end of 2026, down from three signaled barely a week ago.
Commodities markets are preparing for a busy calendar of data releases and speech by Fed Chair Powell. Final PMI readings from major economies, US ADP employment data for November, September’s PCE inflation report, and the University of Michigan’s sentiment and inflation expectations surveys are all due this week.
Whether commodities markets are about to reshuffle again in the next few months will be shaped by if the conflict is halted
It was second time unlucky for the Australian miner, but a third attempt at a later date might be the charm
Commodity market turbulence is expected to persist as traders now await a series of economic releases including US retail sales, producer price inflation, durable goods orders, and potentially preliminary third-quarter GDP and core PCE figures.
Looking ahead, commodity markets will turn their focus to a heavy slate of economic data due next week starting from November 17.
With limited economic data available due to the shutdown, the Fed’s policy path for December remains uncertain.
The sharp flows into physical commodity funds may lead to strong outperformance in Indian metal stocks,
Analysts expect further downside in gold prices in November and December as seasonal demand tapers off after the festive period.
The short-term silver borrowing rates in London eased by Friday from record highs seen on October 10.
US PMI readings, in particular, will be closely watched for early signals on economic momentum and labor market health, as further softness may reinforce expectations of rate cuts by the Fed.
'Around Diwali, most people will purchase emotion-driven jewellery, but intelligent investors are moving towards digital gold and silver bars,' said one analyst.