Commodities Daily Move

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Gold / oil / copper / ag commodities — today's move and what drove it.

Commodities Daily Move2026/05/29 15:04:39

Oil Retreats 1.5% as Hormuz Tankers Move; Gold Reclaims $4,500 on Soft GDP

WTI and Brent crude reversed Thursday's Iran-strike spike (−1.5%) as tankers began clearing the Strait of Hormuz for the first time since March. Gold reclaimed $4,500 (+0.60%) after soft Q1 GDP (+1.6%) and core PCE (+3.3%) data pressured the dollar. Copper held near flat; iron ore was unchanged at $109; corn slipped 0.52% on a technical sell-off.

Commodities Daily Move2026/05/28 15:03:58

Crude spikes 2.7% on fresh Iran strikes; gold extends slide to −$74 ahead of PCE data

WTI crude surged 2.7% to $91/bbl after fresh U.S. airstrikes on Iran overnight reversed Wednesday's peace-trade optimism. Gold fell another $74 (−1.66%) to $4,381, extending its week-long slide as the Hormuz ceasefire held. Today's 8:30 AM ET PCE print is the next critical risk event for gold and the dollar. Copper slipped 0.43% on China demand concerns; iron ore held flat at $109.27; corn edged up 0.58%.

Commodities Daily Move2026/05/28 10:51:22

Commodities Daily Move — May 28, 2026

Gold shed $54 — its steepest drop this month — as Iran deal optimism deflated the safe-haven bid and the Fed shifted to a potential rate hike. Crude gained 2%+ on U.S. military strikes against Iran and shrinking U.S. inventories. Copper extended its slide with technical indicators deeply bearish, while iron ore and corn held near flat.

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