COMMODITY MARKET (11th Nov 2026)

Morning Commodity Market Snapshot

GOLD
Gold prices traded with negative bias and plunged below the mark of $4100 and is currently trading near the mark of $4044.284. Prices couldn’t sustain the upside in the prices amid higher inflation inflation along with higher dollar index and increasing bond yield. Higher inflation has increased the probability of interest rate hike in December thus pushing the prices lower. As per the latest CME fed watch tool, probability of interest rate hike has increased to 100% from existing 75%, thus weighing on the bullion prices.  But From the technical perspective, prices must sustain above the key level of $4010 level, then we may see prices reaching the upside destination of $4150, but if prices fall below the mark of $4000, could take the prices again towards $3980.

SILVER
Silver held above the $52 mark during the early trading session of Wednesday, after prices plunged by 2.43% on Tuesday amid higher inflation numbers, pushing the dollar index and bond yield higher. But with oil prices sustaining below the embark of $95, has been supportive for the bullion prices, thus limiting the downside in the silver prices. However, higher chances of rate hike in december is also acting as hiccup in the upside in the bullion prices, Thus, from the technical point of view,  prices trading above the  levels of $53 opens the door to $55 and $57, while a daily close under $50 would reverse the bias to bearish.

CRUDE
Brent crude took a quick dip below $90 early Wednesday before bargain buying, nudged the prices higher to $91.20. The early pressure came after Donald Trump hinted that more military action against Iran might not be needed,giving traders reason to hope for a diplomatic pause. At the same time, supply worries are cooling off, as Middle Eastern exports are moving towards the prewar levels despite ongoing tanker attacks, while shipping rates and physical premiums are both sliding. U.S. drivers also saw some relief as pump prices slipped under $4 a gallon for the first time since July. Still, nobody is celebrating just yet, Iran wants sanctions lifted and the naval blockade cleared before it sits down to negotiate. On the charts, watch the $90 line. If sellers keep dragging prices below that level, we could quickly see a slide toward $85. On the flip side, buyers would need to muscle past $95 to make a real run at $98 to $100.

Copper
Copper futures remain under pressure with a loss of 1.04% and closing at ₹1,337.30, as prices are seen facing pressure amid higher interest rate and slower industrial growth along with strong dollar index. However, the copper is facing strong resistance at ₹1,365. Only a sustained breakout above ₹1,365 could trigger a further rally toward the ₹1,375 zone. On the flipside, a slip below ₹1,335 may spark renewed selling pressure, testing primary support near ₹1,327.

Evening Commodity Trading Guide 11^th Nov 2026

Gold Technical Outlook

MCX Gold (Dec): The domestic December contract displays positive gap-up momentum, keeping its sentiment in line with COMEX. Technical resistance is positioned at ₹1,42,000 – ₹1,43,500, while the primary support zone lies between ₹1,41,000 – ₹1,40,000. Technical analysis indicates gap-up opening, and we can expect more positive move after sustaining above the resistance Zone. For strategic long-term allocation, long-term investors can consider buying in small amounts on every dip to systematically accumulate positions.

COMEX Gold (Spot): Spot gold displays a Sideways Sentiment profile as price action consolidates within defined technical parameters. Resistance is identified near $4,080 – $4,120, while key underlying support levels are seen near $4,020 – $3,980.

Overall View: Gold has opened with a positive gap, attempting to build upside traction within a broader sideways range. A decisive breakout above the primary resistance zone can unlock further positive momentum, while strategic long-term buyers can continue disciplined, phased accumulation on price dips.

Silver Technical Outlook

MCX Silver (Dec): Mirroring international benchmark price action, the active December contract reflects early positive strength, keeping sentiment in line with COMEX. Technical resistance stands at ₹1,89,000 – ₹1,93,000, with support expected near ₹1,86,000 – ₹1,82,500. Technical analysis suggests gap-up opening, and we can expect more positive move after sustaining above the resistance Zone. Simultaneously, long-term investors can consider buying in small amounts on every dip to build core long-term allocations.

COMEX Silver (Spot): Spot silver exhibits a Sideways Sentiment setup. Overhead resistance levels are placed at $53.50 – $54.50, while support is likely established around $52.50 – $51.

Overall View: Silver shows constructive intraday gap-up strength following recent consolidation. Sustaining above immediate resistance limits will be crucial to confirming upward continuation toward higher technical targets, while small-lot accumulation on dips remains suitable for long-term investors.

Crude Oil Technical Outlook

MCX Crude Oil (Nov): Trading in line with International NYMEX Spot prices, the November contract continues to face selling pressure beneath key technical barriers. Technical resistance is positioned at ₹8,200 – ₹8,400, while support rests between ₹8,040 – ₹7,850. Technical analysis notes that weakness in prices may continue after resisting upper levels, so a sell-on-rise strategy can be on watch. Furthermore, traders should remain extra cautious, as heightened volatility persists amid ongoing geopolitical tensions.

NYMEX WTI Crude Oil (Spot): Spot Crude Oil carries a Sideways to Bearish Sentiment profile as price action consolidates with downside risks prevailing. Resistance stands at $87.40 – $89.10, while key support levels are seen between $85.80 – $84.

Overall View: Crude oil maintains a distinct sideways-to-bearish posture, making rallies toward resistance zones vulnerable to fresh selling pressure. A breakdown below key support floors could accelerate downside extension, warranting strict risk management and a sell-on-rise approach

Zinc Technical Outlook

MCX Zinc (Nov): Tracking international price dynamics, the active November contract displays range-bound consolidation, keeping sentiment in line with International LME prices. Technical resistance is positioned at ₹414 – ₹416, while key support underpins price action between ₹411 – ₹409. Technical analysis indicates may see an upmove after sustaining above the resistance zone. Nevertheless, traders should remain extra cautious, as heightened volatility persists amid ongoing geopolitical tensions.

LME Zinc (Spot): LME Zinc holds a Sideways Sentiment profile as price action trades between well-defined technical limits. Overhead resistance stands between $3,770 – $3,800, while key support levels are established between $3,725 – $3,690.

Overall View: Zinc is consolidating within a neutral-to-balanced trading range. A sustained breakout above domestic resistance limits could trigger renewed upward momentum, though ongoing market volatility calls for strict stop-loss parameters.

Commodities: Pivot Table

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