In the raw materials market, the focus is on pricing with regard to “hopes for peace”.

While the commodity market saw an uptick in precious metals and base metals this week, declines in the energy sector drew attention.

The positive news about the easing of tensions in the Middle East, the easing of inflation concerns and weaker dollar demand had a positive impact on the commodity market in general.

Optimism that inflation pressures will ease as oil supply concerns ease and there will be a basis for interest rate cuts supported gold prices, with the ounce ending the week up 1.8 percent.

Prices rose 6.7 percent for silver, 3.1 percent for platinum and 3 percent for palladium on an ounce basis.

The news that Indian banks have suspended orders for gold and silver from foreign suppliers also led to forecasts that there could be problems in the supply of these metals and had a positive impact on the price increase.

Base metals remained positive

In base metals, over-the-counter prices rose 3.8 percent in pound terms this week for copper, 1.8 percent for aluminum, 2.3 percent for lead, 4 percent for nickel and 3.3 percent for zinc.

Expectations of peace in the Middle East eased worries about inflation and the global downturn due to the energy shock, which was reflected in the sharp rise in base metals.

Despite the positive news about developments in the region, aluminum prices rose due to ongoing supply concerns.

The global aluminum market is facing a supply deficit this year due to the war between the US, Israel and Iran.

Increasing supply disruptions at aluminum smelting plants in the Gulf States have created a significant deficit in the aluminum market. This limits the short-term recovery of aluminum supplies and creates ongoing supply risks.

Indonesia's increase in reference base prices for all grades of nickel ore had a positive impact on the price increase.

Analysts said the Indonesian government was looking for additional revenue due to increased budget pressures caused by war-related increases in oil prices.

This week, the barrel price of Brent oil fell 4 percent and natural gas contracts traded on the Dutch TTF fell 11.2 percent, with supply concerns easing following the announcement that the Strait of Hormuz will be fully open to the passage of all commercial vessels.

Climate effects and harvest forecasts were effective in the agricultural group

Prices per bushel on the Chicago Mercantile Exchange rose 5 percent for wheat, 1.4 percent for corn and 2.8 percent for rice, while soybeans fell 0.7 percent.

On the Intercontinental Exchange, pound prices for cotton rose 3.7 percent, while sugar fell 0.7 percent and coffee fell 3.9 percent. The price per ton of cocoa ended the week down 1.4 percent.

The price of cotton per pound hit its highest level in almost two years at $0.7992.

Meanwhile, the threat of drought and frost in the US caused prices for wheat, corn, rice and cotton to rise. The fall in oil prices had an impact on the fall in sugar prices.

Forecasts of strong sugar and coffee harvests in Brazil also led to a drop in prices for these products. The mid-season crop from March to August was productive in the cocoa regions of Ivory Coast.

Analysts noted that it would be difficult for prices to recover from the sharp decline due to the favorable crop outlook.