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Oil consolidates gains amid concerns of worsening Middle East crisis..

Oil prices held steady in early Asian trading on Thursday after gaining a dollar a barrel in the prior session as investors braced for a worsening of the Middle East crisis, potentially involving Iran, the third-largest oil producer in OPEC.

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Gold flat as sticky US inflation tempers hopes for early rate cut..

Gold prices were little changed on Thursday, as the U.S. dollar and Treasury yields firmed after hotter-than-expected inflation data tempered hopes for an early interest rate cut.

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Copper Rose Benefits From Momentum-Following Funds, Strong German Industrial Data..

Copper experienced a robust increase of 1.83%, settling at 816.05, driven by demand from momentum-following funds, strong German industrial data, and a rally in other commodities. The surge in copper prices was supported by positive manufacturing data from China, expectations of interest rate cuts in the US and Europe, and elevated sentiment towards commodities in general..

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Gold has seen a phenomenal rally over the last couple of months. Between 12th February 2024 and now, gold has risen 17%. During the same period S&P 500 is up 3.6%, DXY is almost flat and US 2Y yield has risen from 4.47% to 4.75% i.e. 28bps.

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