Oil prices continued their upward trajectory in the past fortnight, reaching their highest levels since October 2021.

Gold and global equities surged to record levels as the first quarter of 2024 concluded positively. This rise was primarily due to central banks' commitments to potential rate cuts

Brent crude futures saw a modest decline of 13 cents to USD 81.91 a barrel, while U.S. West Texas Intermediate crude dropped 11 cents to USD 78.04 a barrel. 

The complex dynamics of economic signals, central bank strategies, and geopolitical developments are expected to keep commodity investors vigilant, steering through a period of uncertainty in the coming weeks. 

Looking ahead, the intricacies of diverse economic data from the US, combined with the nuanced details in the FOMC meeting minutes, add complexity to forecasting the commodity market movements.

The final week of the September quarter brought about a tumultuous journey for the financial markets, as sentiments were impacted by expectations of a prolonged period of high interest rates.

The US dollar surged to a six-month high, hitting 105.43, fueled by enduring inflation concerns within the United States.