[MARKET ANALYSIS] Commodities are mixed with crude rangebound amid the current geopolitical backdrop, while precious metals pulled back amid a firmer dollar

WTI/Brent: WTI Apr'26 +0.2% / Brent May'26 +0.2%

• Oil futures are kept afloat in rangebound trade following the prior day's two-way price action, with the crude benchmarks tentative amid the ongoing geopolitical uncertainty.

Gold: -1.1%

• Faded some of the prior day's firm advances after briefly returning to above the USD 5,200/oz level, with pressure seen in tandem with a 3% slump in silver as the dollar strengthened.

Copper: +1.3%

• Climbed higher with an uplift seen as the red metal's largest buyer returned to the market for the first time in over a week

Commodities are exhibiting mixed performance, with crude oil remaining rangebound due to ongoing geopolitical uncertainty, which is preventing significant price movement. Meanwhile, precious metals like gold and silver are pulling back in response to a stronger dollar, indicating a typical inverse relationship between currency strength and commodity prices. The uptick in copper suggests stronger demand amid a return of its largest buyer, which may point to improved outlooks in related sectors.