The commodity swing may increase market volatility, with rising oil prices boosting energy stocks while falling gold prices signal shifting investor sentiment toward risk and inflation concerns.
COMMODITY NEWS FROM THE WORLD: 28th May, 2026 (WAM) – Gold prices fell to a two-month low on Thursday, with spot gold down 1.7 percent at $4,380.62 per ounce as of 0409 GMT, earlier falling to its lowest level since 26th March.
US gold futures for June delivery fell 1.6 percent to $4,377.10.
Spot silver fell 3 percent to $72.37 per ounce and platinum lost 1.4 percent to $1,890.81, both hitting a near one-month low. Palladium slid 1.9 percent to $1,364.26.
Oil prices jumped more than 3 percent on Thursday.
Brent crude futures rose $3.51, or 3.72 percent, to $97.8 a barrel by 0344 GMT, while the more active August contract gained $3.35 or 3.63 percent, to $95.6. The July contract is set to expire on Friday.
The US West Texas Intermediate futures were up $3.31, or 3.73 percent, at $91.99.
Both benchmarks slipped more than 5 percent to touch their lowest in a month in the previous session.
NEWS COURTESY: WAM NEWS (www.wam.ae)
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