As global geopolitical unrest seems to be de-escalating after the US President Donald Trump claimed a ceasefire between Iran and Israel, there is witnessed sharp action in commodities, including gold and crude oil. Gold prices amid easing global tensions slipped sharply around Rs 3,000, tumbling to the day’s low price of Rs 96,422. Meanwhile, crude oil prices also tanked heavily, with prices coming down to below $70 per barrel after testing levels of $81 per barrel on Monday as US entered the war against Iran.
So, as price movement in these commodities may interest you, here’s Zee Business Anil Singhvi view on whether or not prices of these commodities have peaked.

Zee Business Managing Editor Anil Singhvi shared his view on this, offering clarity on future trends in the commodity space.

Crude has likely peaked for the long term: According to Singhvi, crude oil has made a long-term top, and its upside potential now looks limited.

Gold’s correction is temporary: While gold prices have fallen, Singhvi believes the correction is not permanent. “As long as Trump is in the picture, gold may not fall much further,” he said.

Crude oil weakness to dominate 2025: Singhvi highlighted that one of the year’s dominant market themes will be the sustained weakness in crude prices.

No major war threat expected: Singhvi also noted that barring China-Taiwan tensions, there appears to be low probability of any large-scale global conflict in the next 2–3 years — a factor that supports lower crude oil prices ahead.

Global outlook favourable for India: “This is the biggest and best global factor for us,” Singhvi concluded, citing how lower crude prices could benefit India’s macroeconomic landscape.

As markets continue to watch global developments closely, Singhvi’s insights offer a cautiously optimistic view on commodity trends, especially for gold and crude investors.