Weak Dollar and Supply Concerns Lift Commodities

Dollar's Slide Fuels Gold and Silver Rally

Global markets saw the US 10‑year Treasury yield climb to 4.74 % and the 30‑year to 5.34 %, while the Dollar Index ended the week 0.8 % lower at 98.8. This depreciation supported dollar‑priced commodities, driving gold and silver higher.

Rapid Gains in Precious Metals

■Gold: +7.5 % (per ounce)

■Silver: +6.7 % (per ounce)

■Platinum: +2.6 % (per ounce)

Investors shifted to gold‑backed ETFs and option purchases as Fed minutes hinted at potential tightening.

Copper’s Stock‑Driven Decline

■LME inventories: Rapid build, easing physical supply crunch

■China’s weak output: Heightened demand concerns

■Copper price: -0.3 % (spot)

China’s export surge offset Gulf production losses, tempering price pressure.

Energy Markets in Hot Tension

■Brent crude: +5.9 %

■Natural gas: +4.5 % (BTU)

■Iran conflict: Low Strait traffic, persistent supply worries

■EIA stocks: +4.4 million barrels (increase)

Strait disruptions raised risk premiums while heat‑wave demand spurred gas usage.

Agricultural Commodities: El Niño and Supply Dynamics

■Corn: +5.2 % (ICX)

■Rice: +5.1 % (ICX)

■Soybean: +4.0 % (ICX)

■Wheat: +1.5 % (ICX)

■Sugar: +6.0 % (IEX)

■Coffee: +3.4 % (IEX)

El Niño’s drought risk in Southeast Asia, Ghana’s cocoa forecast cut, and India’s sugar imports bolstered supply‑side concerns.

Fatih Kılıç: The dollar’s weakness and temporary decline in long‑term yields have fed a protective bias in commodity markets. Yet China’s sluggish industrial output and Gulf production losses keep metal price volatility alive. Geopolitical pressure in energy corridors pushes oil and gas higher, while El Niño amplifies supply risk in agriculture. Expect a mixed‑signal trajectory for markets moving forward.