GOLD

COMEX gold prices rise by 1.28% to $4,567, driven by growing optimism surrounding a potential agreement between the US and Iran. This geopolitical progress has helped soothe market anxieties regarding inflation and impending interest rate hikes. According to reports, the proposed deal could de-escalate regional hostilities, reopen the critical Strait of Hormuz, unfreeze select Iranian assets, and establish a framework for future talks to limit Tehran’s nuclear program.

SILVER

Early Monday trading saw COMEX silver prices surge by 3.19% to around $77.69, fueled by optimism that a potential U.S.-Iran agreement could end the ongoing regional conflict. This upward momentum is well-supported by a constructive broader fundamental backdrop, where persistent central bank purchases continue to anchor long-term demand for bullion. Looking ahead, if silver sustains its position above the $75 threshold, it establishes a strong technical foundation for prices to potentially climb toward the $82 level.

ENERGY

WTI crude oil prices dropped over 5% to around $91, falling below the $100 mark due to hopes of a peace deal between the U.S. and Iran. If Brent oil also falls toward $90, it could boost the stock market by lowering fears about inflation and reducing expectations for interest rate hikes in 2027. Investors will get a clearer picture of inflation this week with the release of the U.S. core PCE report, which is expected to show a slight increase. Ultimately, if the U.S.-Iran deal is finalized, oil prices will likely continue to drop.

BASE METAL

MCX copper continued to traded flat and is still above the mark of crucial support Rs1330 and is seen at the mark of Rs1344, amid expectations of resolution on the US-Iran war along with ongoing supportive fundamentals. Thus, if prices sustain above Rs1350, Rs1380 would be the first upside destination. Further fuel in AI stocks also pushed copper prices up.

Commodity Update:

Evening Commodity Trading Guide 25th May 2026 

Gold Technical Outlook

MCX Gold (Jun): The domestic June contract has established stability at elevated levels, moving cleanly in line with COMEX. Short-term price action remains well-contained within an established technical boundary. Overhead resistance is firmly positioned at ₹1,59,800 – ₹1,61,000, while a reliable structural demand zone lies between ₹1,58,500 – ₹1,57,600. Technical indicators favor accumulation strategies near these baselines; hence, a tactical “Buy on Dips” playbook is highly recommended.

COMEX Gold (Spot): Spot gold has transitioned into a constructive Sideways to Bullish Sentiment, carving out a reliable consolidation block just below multi-session highs. Immediate overhead friction is expected near $4,600 – $4,660, serving as the near-term hurdle for breakout buyers. Conversely, downside exposure remains neatly insulated, with key support levels seen holding robustly near $4,550 – $4,490.

Overall View: With the primary trend leaning constructively sideways-to-higher, the broader setup remains favorable for patient accumulation rather than aggressive breakout trading. For short-term players, maintaining tight boundary discipline is highly advised to avoid getting trapped in intraday whipsaws. For strategic portfolio builders, this non-linear phase represents an attractive structural window; long-term investors can consider buying in small amounts on every dip down toward primary structural floors to optimize overall entry pricing over time.

Silver Technical Outlook

MCX Silver (Jul): The domestic July contract has dropped back into an established consolidation channel, keeping near-term sentiments in line with COMEX. Immediate relief rallies are facing a well-defined wall of sellers, leaving technical resistance standing at ₹2,77,500 – ₹2,81,000. On the flip side, dynamic downside safety nets are expected near the support zone of ₹2,75,000 – ₹2,70,000. Given the resilient demand pattern emerging at lower bands, a “Buy on Dips” approach remains the high-probability technical stance for local players.

COMEX Silver (Spot): Spot silver has drifted into a positive Sideways to Bullish Sentiment profile as market participants balance industrial demand expectations against near-term macro variables. The white metal is encountering prominent overhead friction, with resistance levels placed at $79 – $81.50 acting as a near-term cap. Meanwhile, localized buying interest continues to aggressively defend the structural floors, keeping major supports likely around $77.20 – $75.

Overall View: The silver market is currently content rotating within an established technical range, meaning patience and strict boundary discipline will yield the best risk-to-reward ratio. Shorter-term traders should protect trading capital by avoiding over-leveraged positions during intraday swings. On a macro level, this corrective phase offers a healthy entry window; long-term investors can consider buying in small amounts on every dip within the major demand pockets to steadily accumulate quality exposure.

Crude Oil Technical Outlook

MCX Crude Oil (Jun): The domestic June contract continues to mirror global parameters, moving in line with International NYMEX Spot prices. Near-term price action faces prominent overhead supply caps, with technical resistance mapped at ₹8,850 – ₹9,150. On the lower boundary, the floor demands careful monitoring, with key structural support located at ₹8,550 – ₹8,250. Momentum studies show that weakness in prices may continue after breaching the support zone, warning bulls against premature bottom-fishing.

NYMEX WTI Crude Oil (Spot): WTI Crude Oil has drifted into a temporary Bearish Sentiment as macro pressures and shifts in momentum line up against the energy market. Relief rallies are running into a well-defined ceiling, with immediate resistance standing at $92.70 – $96 keeping buyers at bay. On the lower end, key support levels are seen near $90 – $87.50, which will serve as crucial lines of defense for bulls trying to stabilize the structural trend.

Overall View: The path of least resistance for the energy complex remains tilted downward for the immediate horizon, meaning boundary discipline and strict confirmation are vital. Short-term traders should exercise patience and avoid premature bottom-fishing. Because heightened volatility persists amid ongoing geopolitical tensions, sudden turns in sentiment can quickly alter near-term trends. Traders should remain extra cautious, protect realized profits at regular technical boundaries, and use strict trailing stop-losses to hedge against swift, headline-driven reversals.

Copper Technical Outlook

MCX Copper (May): Directly tracking the global trend, the domestic May contract showcases an exceptionally constructive chart profile. Short-term sellers are actively grouping near the immediate overhead resistance band at ₹1372.50 – ₹1387, while long-term demand forces are waiting to absorb price soft patches at the support floor of ₹1362 – ₹1345. Technical patterns indicate that the metal may see an upmove after sustaining above the resistance zone, signaling a clean validation of its broader structural trend.

COMEX Copper (Spot): COMEX Copper continues to march ahead with a firm Bullish Sentiment, energized by persistent global supply constraints and robust physical spot market demand. The industrial metal is actively challenging upper milestones, with immediate overhead resistance standing at $6.50 – $6.60. On the flip side, seller dominance remains strictly limited, with key support levels firmly established between $6.42 – $6.35 to keep the uptrend intact.

Overall View: The structural framework across the industrial metals space heavily favors the bulls, making the accumulation of long positions on brief price retracements the preferred playbook. Nonetheless, because industrial commodities are highly sensitive to sudden logistics or macro shocks, sudden turns in headline risk can quickly alter near-term trends. Traders should remain extra cautious, as heightened volatility persists amid ongoing geopolitical tensions. Lock in partial profits at regular technical intervals and rely on robust risk management rules to protect trading capital.

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