Weekly Commodity Podcast With Ravindra Rao | 6th Feb 2023

• An explosive and volatile week came to an end with commodities witnessing a sharp fall. It was a week with important events from big central bank policies along with important monthly economic data.• The U.S. central bank hiked interest rates by 25 basis points (bps) but Fed Chair Jerome Powell seemed less hawkish in his comments. • ECB and BOE also hiked rates by 50 bps but their forward guidance was moderately on the dovish side. • The U.S. Dollar witnessed a sharp rebound above 102.50 after having tumbled below 101, the lowest since April 2022.• COMEX Gold hit a fresh 9-month high of $1975.2/oz as Fed Chair post policy comments were perceived as dovish. • Silver prices slipped from $24.60/oz and closed the week with a sharp fall of around 5%.• WTI and Brent Crude witnessed a second consecutive weekly decline as markets now look forward to tangible signs of Chinese demand recovery & assess higher flows from Russia.• The focus this week will be on speeches by Fed Chair Powell and several FOMC members for clues on the policy outlook. Chinese inflation figures & U.K. GDP will be closely watched. • Oil markets may take cues from the EU ban on refined oil products from February 5.APN:Volatile week for commodities Chinese inflation & UK GDP in focusFind out in our commodity outlook and trading strategy for Gold, Silver, Crude Oil, and base metals.