This project is a comparative study of five major commodities like Gold, Silver, Copper, Crude Oil, and Natural gas are traded in India’s MCX (Multi Commodity Exchange) and in international markets like COMEX & NYMEX. The main goal was to understand how prices behave in both markets, how much return each commodity gives, how risky or volatile they are, and how closely the Indian prices follow global trends. Using 10 years of data (2015–2024), the study calculated returns, measured volatility, and used tools like correlation, regression, and Johansen cointegration tests. The results showed that international markets generally provided slightly higher returns, but MCX performed well too, especially in Copper and Silver. Volatility levels varied, with some MCX commodities showing higher short-term risk. Strong correlations and long-term relationships were found between MCX and global prices for most commodities. These findings highlight that Indian commodity prices are strongly influenced by global market movements. This study helps investors, traders, and policymakers better understand market behavior and make informed decisions.