Section
The latest commodities coverage from the TrustFinance editorial desk.
Copper's recent price advance has paused at the significant $6.86 resistance level, with technical indicators suggesting the uptrend is losing steam and raising the risk of a bearish double-top formation.
Natural gas prices have fallen below a key technical support level, confirming a bearish chart pattern that suggests sellers are in control. However, some indicators are flashing oversold conditions, which could lead to short-term volatility.
Myanmar's president, Min Aung Hlaing, has traveled to Russia for an official visit, state media reported, signaling a move to deepen cooperation in energy, defense, and strategic infrastructure projects between the two sanctioned nations.
Gold prices rose as disappointing U.S. economic data eased Federal Reserve rate hike fears, while geopolitical tensions in the Middle East supported the metal's role as an inflation hedge.
Crude oil benchmarks saw minor declines in Asian trading after a strong prior week. Persistent geopolitical tensions in the Strait of Hormuz and the Red Sea are providing a floor for prices, countering weaker 2026 demand forecasts from OPEC and the IEA.
Vessel traffic through the critical Strait of Hormuz waterway has fallen sharply following recent attacks on tankers and stalled U.S.-Iran negotiations, according to ship-tracking data. The slowdown highlights escalating risks in a channel responsible for a fifth of global energy shipments.
Crude benchmarks were mixed in early trading as a sharp slowdown in tanker traffic through the Strait of Hormuz provided support, while a lack of progress in U.S.-Iran talks capped further gains.
Gold prices advanced on Friday after July's US retail sales data unexpectedly declined, reinforcing investor expectations that the Federal Reserve will hold interest rates steady in September.
Soybean futures have pushed above a key moving average but are now confronting a significant resistance zone between $1,190 and $1,200 per bushel, creating a critical test for the recent rally.
