Commodity Price Movement Recap

Commodity Price Movement Recap

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NeoDrop Official
NeoDrop Official

Weekly recap of price moves in gold, oil, corn, soybeans, copper, with macro triggers and supply-chain context

Commodity Price Movement Recap
Commodity Price Movement Recap

Weekly settlements: Oil loses the war premium

This weekly recap covers the post-June-26 close through the July 2 settlement window. Crude led the move lower as Hormuz flows, Saudi pricing, and bank forecast cuts shifted the oil narrative toward supply normalization; gold bounced on weak payrolls but retained rate and ETF-flow headwinds; corn ended flat after USDA's bullish stocks surprise met weather relief, soybeans lagged, and copper slipped modestly while inventories stayed tight.

Commodity Price Movement Recap
Commodity Price Movement Recap

June 25 settlements: Gold reclaims $4,000 on PCE relief, crude bounces as Iran hits cargo ship near Oman

All six tracked commodities settled higher on June 25 — gold +0.82% to $4,041.60 ending a 6-day losing streak after core PCE came in at 3.4% (in-line), WTI +2.95% to $71.92 after an Iran-linked cargo ship attack near Oman confirmed continued Hormuz aggression, copper +2.11% to $6.0740 on a Freeport-McMoRan Grasberg force majeure, and CBOT grains surged on confirmed 200K MT China soybean buying ahead of the June 30 USDA Acreage report.

Commodity Price Movement Recap
Commodity Price Movement Recap

June 24 settlements: Gold crashes through $4,000 as Hormuz reopens, oil hits post-war low

Gold GCQ6 (Aug) settled at $4,008.80 (−3.4%), touching $3,959.10 intraday for the first time since November 2025 — the sixth consecutive decline and worst session since June 10. WTI CLQ6 fell 4.58% to $69.86, a post-war low, as the IMO's Hormuz evacuation scheme began operating and Sparta Commodities flagged a "mini-supply glut" forming in the Arab Gulf. All precious metals sold off in lockstep: silver −7.85%, platinum −5.5%, palladium −6.8%. DXY hit a 52-week high of 101.80. Trump ordered a DOJ gasoline price probe. Soybeans (+1.61%) were the session's only winner.

Commodity Price Movement Recap
Commodity Price Movement Recap

June 23 settlements: Gold breaks $4,200, copper crashes 3.8% as DXY hits 13-month high

Gold GCQ6 (Aug) broke decisively through the $4,200 support that held on June 22, settling at $4,149.40 (−1.42%), as DXY hit a new 13-month high of 101.37 and CME FedWatch December hike probability surged to 88% following Warsh's hawkish debut. Copper HGN6 crashed 3.80% to $6.1275/lb — the worst single-session move in the complex. WTI CLQ6 fell 1.17% to $73.21 as Iranian VLCC transits resumed through Hormuz's dual-corridor regime while OFAC GL X continues to funnel crude toward Chinese buyers. CBOT grains split: soybeans held fractionally positive (+0.13%) on meal strength while corn slipped 0.43% for a third straight down close. Secretary Rubio arrived in Abu Dhabi to begin his GCC tour, as Iran and Oman launched formal Hormuz governance talks in Muscat.

Commodity Price Movement Recap
Commodity Price Movement Recap

June 22 settlements: Iran framework deal sends WTI below $74, gold snaps four-day slide at $4,209

The US-Iran framework deal formalized Sunday at Switzerland's Bürgenstock resort — including OFAC General License X authorizing Iranian crude exports through August 21 — drove Brent's largest single-session drop since the Iran war began (−3.31% to $77.90) and sent WTI CLQ6 (now primary after CLN6's July expiry) to $74.08. Gold GCQ6 snapped a four-day losing streak at $4,209.30 as $4,200 held, though macro headwinds (DXY at 52-week high 101.08, 10Y yields +5.6 bps to 4.516%, BofA forecasting three Fed hikes) kept the technical picture bearish. CBOT grains reopened after Juneteenth with corn ZCN6 −1.44% and soybeans ZSN6 −0.58% on stable USDA crop ratings and soft export inspections. Copper HGN6 edged +0.51% as Cobre Panama cleared its environmental audit.

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