Metals Shine, Energy Stumbles
11-12-2025
Wednesday
From the Trading Desk at Stipelis:
The Strategy Session-Futures, Sectors and Tactical Market Insights.
Metals continue to lead the year-to-date gains, with silver up over 73% and gold advancing nearly 56%. Energy is mixed: natural gas is up strongly, while crude oil and heating oil are trending lower intraday. Agricultural markets show both strength and weakness; soybean oil and coffee are on the rise, while cocoa and sugar lag behind.
Equity indices are climbing steadily. The S&P 500 e-mini has gained over 15% year-to-date, while the Nasdaq 100 is up 20%. Intraday, the Dow Jones recently hit a four-week high, signaling bullish momentum. Meanwhile, volatility remains elevated, with the VIX index up slightly intraday.
Currencies and bonds show modest moves. The U.S. dollar index has remained flat, while 10-year Treasuries edge up slightly. Traders are watching global liquidity, Fed policy, and macroeconomic reports, which could influence risk assets over the next few sessions.
Tactical opportunities appear in metals and select agricultural products. Silver’s strong intraday gain of nearly 5% suggests momentum traders may consider exposure, while cocoa’s four-week low indicates potential downside risk. Energy traders may watch crude oil and heating oil for intraday pullbacks.
Staying disciplined is critical. The market rewards patience and risk management. Identifying trends, monitoring intraday movers, and understanding year-to-date performance helps investors and traders make informed decisions. The Strategy Session aims to provide clarity on where the market is moving and why.
Stipelis Global Trading LLC is registered with the Commodity Futures Trading Commission and is a member of the National Futures Association.
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