Commodities on the Multi Commodity Exchange (MCX) traded in the green on Tuesday, March 17, with gains seen across energy, precious metals, and base metals.
Silver rose by Rs 2,883 (1.12%), while gold futures gained Rs 979 (0.63%). Among industrial metals, copper was up Rs 2.55 (0.22%), zinc gained Rs 0.60 (0.19%), and aluminium increased by Rs 0.95 (0.28%).
In the energy segment, crude oil surged Rs 144 (1.65%), leading the rally, while natural gas edged higher by Rs 1.2 (0.43%).
The broad-based strength in commodities comes amid multiple global factors driving prices higher. Around mid-March 2026, markets are witnessing upward pressure due to geopolitical tensions in the Middle East, particularly escalation involving Iran, which has pushed crude oil prices towards the $90–$100 per barrel range in recent sessions.
Higher oil prices are also supporting the broader energy complex, indirectly boosting natural gas prices. Meanwhile, metals are benefiting from a mix of safe-haven demand and inflation hedging, especially for gold and silver amid ongoing uncertainty.
Industrial metals such as copper, aluminium, and zinc continue to find support from strong demand linked to energy transition themes, including electric vehicles, renewable energy, and infrastructure development.
Additionally, periods of a relatively softer U.S. dollar have supported commodity demand globally, while tight supply conditions in certain segments have kept prices elevated.
Overall, commodities remain firm as markets balance geopolitical risks, inflation concerns, and evolving global monetary policy trends.