Global Commodity Technical Analysis Report

Commodities Show Bearish Performance Last Week as U.S. Sugar Rise Above50-Day SMA

Mar 23, 2026

| Read Time :10 Mins

SBK6
Investment Type

Commodity
Risk Level
Action
Rec. Price (US$)

Global Commodity Market Wrap-Up

Global commodity markets ended the week on a bearish note, as investors weighed ongoing Middle East tensions and the U.S. Fed’s decision to hold rates, with elevated energy prices adding inflation concerns. Precious metals saw sharp declines, with gold falling 9.60% and silver dropping 14.36%, reflecting pressure from a shifting rate outlook. In base metals, trends remained mixed, as copper declined by 6.67%, zinc slipped by 6.69%, and lead edged lower by 0.57%, pointing to cautious industrial demand. The overall sentiment remained weak, driven by macroeconomic uncertainty and concerns about global growth momentum.

Natural gas declined 1.95% last week as ample supply conditions and easing demand expectations led to a cooling trend after recent volatility, with disruptions in Qatar LPG flows adding to uncertainty. In contrast, crude oil gained 1.44%, supported by ongoing Middle East tensions and concerns over global supply stability. In the agricultural segment, U.S. sugar surged 9.26%, reflecting strength within a relatively steady demand environment. Overall, commodity markets remained cautious, as investors tracked geopolitical risks, supply dynamics, and macroeconomic signals shaping near-term price direction.

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