Here’s how much gold, cocoa and oil are trading for on the global market today

• Gold is trading above $4,500 per ounce, supported by strong demand and global uncertainty.

• Oil prices have surged to around $115 per barrel due to Middle East tensions.

• Cocoa prices have dropped sharply but remain volatile due to supply and demand shifts.

Global commodity markets are facing renewed volatility this week, driven by escalating geopolitical tensions in the Middle East, shifting demand patterns and supply chain disruptions that continue to influence prices across key sectors.

Gold is trading between $4,518 and $4,520 per troy ounce as of May 5, 2026, according to LiteFinance.

Although the metal has declined by about 1.45% over the past month after reaching record highs, it remains approximately 37% higher than its value a year ago, based on data from TradingEconomics.

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The World Gold Council reported that gold hit an all-time high of $5,405 per ounce in January 2026, with a record quarterly average of $4,873 in the first quarter of the year.

Total demand reached 1,231 tonnes, up 2% year-on-year, while the overall value surged 74% to $193 billion.

Crude oil prices have surged sharply amid heightened tensions around the Strait of Hormuz, a critical global oil transit route.

Brent crude is trading at about $115 per barrel, marking a significant increase compared to the same period last year, according to Fortune.

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Meanwhile, West Texas Intermediate (WTI) is trading around $105 per barrel, rising roughly 3% in recent sessions, based on figures from TradingEconomics.

The spike in prices is linked to escalating conflict involving Iran and increased risks to oil shipments through the region.

Cocoa prices are currently trading between $3,500 and $3,860 per metric tonne, according to Investing.com.

This marks a significant drop from the record high of $12,646 per tonne recorded in December 2024, as reported by Accio.

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The decline reflects improved harvest conditions in West Africa and weaker global demand. Data from TradingEconomics shows reduced cocoa processing in Europe and North America, alongside declining chocolate sales.

Overall, global commodity markets remain highly sensitive to geopolitical developments and economic trends.

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Gold continues to benefit from its safe-haven appeal, oil prices are under pressure from supply disruptions, and cocoa markets are adjusting to shifting demand and supply dynamics.