HSL Prime Research Commodity Daily Report: 16 June 2026

Global Market Round Up

Gold prices were largely steady on Tuesday after gaining more than 2.0% in the previous session, as investors awaited further details on the proposed U.S.-Iran peace agreement. Market sentiment remained cautiously optimistic after U.S. President Donald Trump announced that a preliminary deal had been signed, although both Washington and Tehran indicated that negotiations toward a permanent settlement are still ongoing.

The proposed agreement would extend the existing ceasefire by another 60 days and pave the way for the reopening of the Strait of Hormuz, a key global energy shipping route. While the development has eased immediate geopolitical concerns, traders remain reluctant to take aggressive positions until more details emerge.

Meanwhile, the U.S. dollar steadied around the 99.5 level after weakening in the previous session. With geopolitical tensions showing signs of easing, investor attention has shifted back to the Federal Reserve’s upcoming policy meeting, which is expected to provide fresh guidance on the interest-rate outlook and could play a key role in determining the near-term direction of gold prices.

Crude oil prices are steady, with WTI futures hovering near $81 on Tuesday, after a sharp selloff in the previous session. Market sentiment improved on growing expectations that the United States and Iran are moving closer to a peace agreement, raising hopes that disruptions to global energy supplies could begin to ease.

While optimism over a diplomatic breakthrough has weighed on oil prices, traders remain cautious until more details emerge and a formal agreement is reached. Until then, crude oil is likely to remain sensitive to headlines surrounding U.S.-Iran negotiations and the outlook for global energy flows.

Natural gas prices traded higher on Tuesday after posting modest gains in the previous session, supported by signs of improving LNG export demand. Flows to liquefied natural gas export terminals rose 13.2% week-on-week on Monday, reaching a six-week high of 19.3 billion cubic feet per day, indicating stronger overseas demand for U.S. gas supplies.

Copper and broader industrial metals faced pressure after disappointing Chinese economic data raised concerns about demand growth. China’s retail sales unexpectedly contracted in May, marking the first decline since the pandemic. Fixed-asset investment also weakened, although industrial production exceeded market expectations.

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