Commodity markets saw mixed activity on August 17. Crude oil prices largely held steady after last week’s gains, while gold remained firm.
Brent crude futures traded unchanged at $88.55 a barrel, whereas US West Texas Intermediate (WTI) slipped 14 cents to $82.26 a barrel.
Oil prices were supported by concerns over potential supply disruptions in the Strait of Hormuz, with prospects for a lasting US‑Iran peace deal looking increasingly remote.
Gold stayed steady around $4,370 an ounce after a nearly 1% rise last week. Traders weighed weaker US economic data, including drops in consumer sentiment and retail sales, against renewed inflation worries linked to higher energy prices.
Softer economic readings eased expectations of an imminent rate hike, boosting demand for the non‑yielding asset.
Silver rose 0.6% to $65.08 an ounce after gaining almost 2% last week, while platinum and palladium also edged higher.
The US dollar index slipped 0.1% to 99.519, near its lowest level of the month. A softer dollar generally supports dollar‑denominated commodities, especially gold, by making them cheaper for holders of other currencies.
Overall, commodity prices stayed steady amid a cautious market sentiment as investors monitor US policy moves and global supply risks.