Commodity markets are expected to remain highly sensitive and volatile this week as key global inflation, energy and economic data releases are scheduled. Market participants are likely to closely track US inflation data, crude oil inventory reports, Chinese economic indicators and central bank commentary for further direction.
US CPI and PPI inflation data
China’s CPI and PPI figures
OPEC and IEA monthly reports
Weekly US crude inventory data
US Natural Gas Storage report
Central bank commentary and global growth signals
Gold is expected to witness increased volatility as upcoming US inflation data may provide fresh signals on inflation trends and the future direction of Federal Reserve policy.
Softer inflation readings may support bullion prices by weakening the US dollar
Stronger-than-expected data could strengthen the dollar and limit gains in precious metals
China’s inflation data will also influence overall commodity sentiment
Silver is likely to track both precious metal sentiment and the global industrial demand outlook.
Positive economic data from China and Europe may support industrial metals
Weak growth indicators could keep prices range-bound
Crude oil is expected to remain highly active amid the release of:
OPEC Monthly Report
IEA Monthly Report
EIA Short-Term Energy Outlook
Weekly US crude inventory data
A continued decline in US crude stockpiles could support prices, while concerns over slowing global economic growth may cap sharp upside movement.
Natural Gas prices are likely to react to the weekly US Natural Gas Storage report.
Lower-than-expected storage additions may support bullish momentum
Higher inventory levels could renew selling pressure
Gold opened the week at $4,613.16, slightly below the previous close of $4,614.22, indicating a flat to mildly gap-down opening. Buyers gradually regained control during the week, pushing prices higher to close at $4,713.56, registering a weekly gain of around 2.15 percent.
Immediate support: $4,510.50
Stronger support: $4,099.00
Immediate resistance: $4,891.00
Major breakout zone: $5,419.00
The recovery from lower levels reflects improving momentum after recent consolidation. Sustaining above $4,510.50 could encourage further upside towards $4,891.00. However, failure to hold the support zone may lead to renewed corrective pressure in the short term.
Silver opened the week at $75.55, slightly above the previous close of $75.31, indicating a mild gap-up opening of around 0.32 percent. Buying interest strengthened through the week, lifting prices higher to close at $80.29, marking a weekly gain of approximately 6.62 percent.
Immediate support: $72.20
Stronger support: $65.50
Immediate resistance: $83.00
Major resistance: $90.00
The sharp rebound from recent lows signals improving bullish momentum in the near term. If silver sustains above $72.20, the recovery may extend towards $83.00. However, rejection near resistance levels could trigger short-term profit booking and increase volatility.
Brent crude oil opened the week at $106.60, below the previous close of $109.21, indicating a gap-down opening of nearly 2.39 percent. Selling pressure dominated throughout the week, dragging prices lower to close at $100.24, resulting in a weekly decline of around 8.21 percent.
Immediate support: $96.00
Broader support zone: $86.10
Immediate resistance: $115.30
Major resistance: $125.00
The strong corrective move reflects weakening momentum after recent volatility at higher levels. If Brent remains below $115.30, pressure on prices may continue towards the $96.00 support region. However, holding above immediate support could trigger short-covering rallies and stabilise the near-term trend.
Natural Gas opened the week at $2.89, slightly below the previous close of $2.908, indicating a marginal gap-down opening. Price action remained largely range-bound during the week, with the market closing near $2.91, reflecting a weekly gain of around 0.13 percent.
Immediate support: $2.74
Next support: $2.58
Immediate resistance: $3.01
Stronger resistance: $3.24
The consolidation near the support zone indicates balanced market sentiment after recent declines. Sustaining above $2.74 could support a gradual recovery towards $3.01. However, failure to maintain this level may revive selling pressure and keep prices under consolidation.
Note: Research support for this article was provided by the Research Desk of MyEquityLab.com, a SEBI-registered Research Analyst (Registration No. INH000023843).
Disclaimer: This article is for informational and educational purposes only and does not constitute investment advice or a recommendation to buy or sell any security. Readers are advised to consult a qualified financial adviser and conduct their own due diligence before making investment decisions.
