Commodities Daily Move2026/05/28 15:03:58Crude spikes 2.7% on fresh Iran strikes; gold extends slide to −$74 ahead of PCE dataWTI 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 10:51:22Commodities Daily Move — May 28, 2026Gold 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.