Commodity markets saw a mixed day on July 27. Crude oil prices fell more than 5% after a brief pause in hostilities around the Strait of Hormuz. The decline helped ease concerns about energy‑driven inflation.
Brent crude slid 5.2% to $91.73 a barrel, while U.S. WTI fell 5.4% to $84.45. The sharp correction reduced expectations of further U.S. Federal Reserve rate hikes ahead of this week’s policy meeting.
Gold responded positively, rising 1.3% to $4,103.99 an ounce. U.S. gold futures climbed 0.9% to $4,106.10. Lower oil prices cut fears of persistent inflation and high interest rates, boosting demand for safe‑haven assets.
Silver also gained 2.7%, reaching $59.72 an ounce. Platinum and palladium traded higher, reflecting a broader lift in precious metals.
The U.S. dollar strengthened, supported by higher Treasury yields and rising global trade tensions. It hovered near a 40‑year high against the Japanese yen, reflecting a tighter monetary stance.
Overall, easing Middle East tensions and falling oil prices lifted sentiment across commodities, while the U.S. dollar remained firm on higher yields.