Commodities In Focus As Geopolitical Risks Resurface

Renewed geopolitical concerns have once again shifted investor focus to commodities, with gold and silver gaining support as safe-haven assets after recent declines. While precious metals have seen renewed buying interest, the outlook for crude oil remains uncertain. Despite rising geopolitical tensions, oil prices have shown no sharp reaction so far, with some softness seen in recent sessions. Energy experts suggest that even if additional oil supply enters global markets, including from Venezuela, prices may remain capped due to strategic controls by major producers. For India, a softer oil price environment would be positive as a net importer. Meanwhile, gold is seen as being in a structural bull phase, supported by sustained central bank buying, though near-term consolidation cannot be ruled out amid elevated levels.