COMMODITIES MARKETS — SESSION OVERVIEW

Commodities remain entrenched in the ongoing supercycle amid persistent dollar strength and mixed risk sentiment. Central bank policy divergence continues driving cross-asset volatility as markets navigate elevated inflation expectations.

PRECIOUS METALS Gold trades at $4484.70/oz, down 0.48% intraday as real rates remain elevated despite safe-haven demand. Silver outperforms at $75.81/oz, gaining 1.31% on industrial demand recovery. Platinum advances 0.51% to $1943.70/oz while palladium surges 1.60% to $1382.00/oz on s

upply constraints. Copper climbs 1.09% to $6.23/lb, signaling renewed growth optimism despite China headwinds.

ENERGY WTI crude plunges 5.19% to $102.18/bbl on demand concerns while Brent holds relatively steady at $109.08/bbl, down 1.98%. The widening Brent-WTI spread of $6.90/bbl reflects regional supply dynamics and refining capacity constraints. OPEC+ production discipline remains supportive despite geopolitical uncertainties. Natural gas retreats 1.03% to $3.08/MMBtu following storage build data.

AGRICULTURE Grain complex consolidates gains with wheat a

t $663.25/bu, corn at $471.50/bu, and soybeans at $1202.50/bu. Weather patterns across key growing regions and export corridor disruptions continue supporting elevated price floors.

TRADE IDEAS LONG: Silver (industrial demand), Copper (China reopening trade), Natural gas (seasonal demand) SHORT/HEDGE: WTI crude (demand destruction risk), Gold (real rate pressure)

KEY RISKS Federal Reserve policy pivot timing remains uncertain. China property sector weakness could derail commodity demand recovery. Middle East geopolitical tensions threaten energy supply chains.

t $663.25/bu, corn at $471.50/bu, and soybeans at $1202.50/bu. Weather patterns across key growing regions and export corridor disruptions continue supporting elevated price floors.

TRADE IDEAS LONG: Silver (industrial demand), Copper (China reopening trade), Natural gas (seasonal demand) SHORT/HED