Commerzbank’s Barbara Lambrecht highlights that Copper prices on the LME are close to record highs, with an unusually large cash–3‑month spread driven by falling LME stocks and tariff-related pre‑emptive buying in the US.

TD Securities’ commodity strategy team maintains a bullish view on Oil, citing persistent tightness and Strait of Hormuz tensions.

West Texas Intermediate (WTI) holds firm on Tuesday after jumping almost 3% the previous day. The lack of progress toward reopening the Strait of Hormuz keeps a geopolitical risk premium in energy markets.

Commerzbank’s Carsten Fritsch notes that Gold remains around USD 4,400 per ounce even as US Treasury yields rise back toward late-July levels, decoupling from real interest rates.

Gold prices continue to draw support from expectations that the Federal Reserve will hold interest rates steady through the remainder of the year after softer US inflation and employment data. 

TD Securities analysts describe Copper’s current strength as driven by speculative positioning, tariff-related arbitrage and supply disruption headlines rather than genuine global shortage.

TD Securities strategists see Gold supported by doubts over the Federal Reserve (Fed) but with limited near-term upside.

Silver (XAG/USD) declines on Tuesday and trades around $65.00 at the time of writing, down 1.20% on the day. The white metal nevertheless remains trapped within the consolidation range that has dominated trading for about a week, as opposing forces prevent a clear direction from emerging.

Geoff Yu at BNY notes Brent crude briefly rose above $91.85 per barrel, its highest in over three weeks, as hopes for a rapid reopening of the Strait of Hormuz faded.

ING analysts Ewa Manthey and Warren Patterson highlight that LME Copper has pushed above $14,000/t, approaching record highs as nearby market conditions tighten.

Gold (XAU/USD) attracts sellers on Tuesday, snapping a two-day winning streak as a firmer US Dollar (USD) and rising long-term US Treasury yields weigh on the precious metal. At the time of writing, XAU/USD trades around $4,393, down 0.50% on the day.

Gold (XAU/USD) shows moderate losses on Tuesday, weighed by higher US Treasury yields and a risk-averse sentiment, which has triggered a mild US Dollar recovery.

Silver prices (XAG/USD) fell on Tuesday, according to FXStreet data. Silver trades at $64.97 per troy ounce, down 1.25% from the $65.79 it cost on Monday.

ING strategists Ewa Manthey and Warren Patterson note that Brent Oil has extended its rally, trading above $91/bbl as geopolitical risks and supply concerns support prices.

Silver price (XAG/USD) continues to trade in a limited range at around $65.30 during the European trading session on Tuesday.

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – enters a bullish consolidation phase after hitting an over two-week high during the Asian session on Tuesday and currently trades around the $84.20 region.

Gold (XAU/USD) attracts some sellers following a modest Asian session uptick on Tuesday, stalling a two-day move higher from the $4,300 neighborhood.

The UK Maritime Trade Operations (UKMTO) said that it has received a report of an incident in the Strait of Hormuz, Reuters reported on Tuesday.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $84.00 during the early Asian trading hours on Tuesday. WTI steadies as traders continue to assess the developments surrounding Middle East conflicts. 

Gold price (XAU/USD) edges higher to near $4,415 during the early Asian session on Tuesday. The precious metal extends its upside amid fading expectations for further US Federal Reserve (Fed) rate hikes. Traders will closely monitor the developments surrounding the Middle East conflicts. 

Gold (XAU/USD) price rises over 1% on Monday amid overall US Dollar (USD) weakness and lower US Treasury yields, following last week’s soft inflation data that reduced speculation of a hawkish Federal Reserve (Fed), . The XAU/USD trades at $4,422 after bouncing off daily lows of $4,367.

Silver price surges nearly 1.80% on Monday as the Greenback dives, while uncertainty over the US-Iran conflict clouds investor sentiment. It seems like the precious metals segment reacquired its haven status, even though Oil prices edged higher.

West Texas Intermediate (WTI) US Oil advances on Monday and trades around $82.10 at the time of writing, up 0.68% on the day. Oil prices remain supported by the deadlock between the United States (US) and Iran, which keeps concerns about Oil flows through the Strait of Hormuz elevated.

Silver (XAG/USD) extends its advance on Monday and trades around $66.30 at the time of writing, up 2.47% on the day.

TD Securities strategists note that money managers sharply increased long Gold exposure as modest inflation, soft United States (US) employment data and expectations that the Federal Reserve (Fed) will not hike rates this year weigh on the US Dollar (USD).

Gold (XAU/USD) struggles to build on its intraday advance on Monday but holds modest gains as the US Dollar (USD) remains under selling pressure amid fading expectations that the Federal Reserve (Fed) will raise interest rates at its September meeting.

ING’s Ewa Manthey and Warren Patterson report that LME copper has surged to a record high above $14,000/t, with a sharply backwardated cash/3M spread underscoring near-term tightness.

Gold (XAU/USD) maintains a bullish bias around $4,400, supported by a weaker US Dollar (USD) and fading expectations of further interest rate hikes by the Federal Reserve (Fed).

West Texas Intermediate (WTI) US Oil advances on Monday and trades around $82.10 at the time of writing, up 0.70% on the day. Oil prices remain supported by the deadlock between the United States (US) and Iran, which keeps concerns about Oil flows through the Strait of Hormuz elevated.

Silver prices (XAG/USD) rose on Monday, according to FXStreet data. Silver trades at $65.46 per troy ounce, up 1.17% from the $64.70 it cost on Friday.