Daily Commodity Report for 24 Sep 2025: Indian & US Markets

GLOBAL MARKET ROUND UP

Gold extended its bull run, bolstered by a softer U.S. dollar and strong inflow into the exchange trader fund. Investors are becoming increasingly aggressive toward gold exchange-traded funds, as shown by a 15 percent increase in the total gold held by ETFs this year, which has reached 95.8 million ounces. This represents the highest level since October 18, 2022.

Precious metals have gained support from recent news that China is exploring a plan to act as a custodian for foreign sovereign gold reserves. The People’s Bank of China is utilizing the Shanghai Gold Exchange to attract central banks in allied nations to purchase bullion and store it within the country’s borders.

In his speech, Powell cautioned that the timing of rate cuts remains uncertain, highlighting the Fed’s challenge in balancing inflation control with signs of labor market weakness.

Crude oil increased on Tuesday, breaking a four-day losing streak, as traders evaluated escalating threats to Russian supply flows. These threats stem from Ukrainian strikes on energy assets and a potential ban on diesel exports. Russia is considering banning diesel exports for certain companies amid a series of attacks by Ukrainian drones on its oil refineries, including two recent overnight assaults on oil pipelines. Attention has now turned to the EIA’s inventory report scheduled for today.

Natural gas futures closed higher on Tuesday, marking the largest increase in a week and reversing earlier losses. This rise was attributed to midday weather models that predicted warmer temperatures in the Northeast and Texas for early October, which contributed to the gains.

Copper prices remained stable as the market assessed a new supply disruption in Peru in relation to the Federal Reserve’s cautious stance on interest rates.