COMMODITY MARKET (11th Aug 2026)

Morning Commodity Market Snapshot

GOLD

COMEX gold traded with positive momentum for the third consecutive trading session and has breached the mark of $4400, and is up by 0.49% and is trading near the mark of $4412.This upside in the gold prices are attributed to rising investment demand in gold , despite rising risk of inflationary pressure ad oil prices are again trading above the mark of $80, amid uncertainty of US-Iran diplomatic talk. Chinese institutional investors have increased their gold holdings amid hedge against volatility in the market, making it the longest streak of inflows in months. China’s central bank purchased 20 tonnes of gold in July against 15 tonnes of gold bought in June, making it the largest monthly buying since October 2023. Further, if  gold prices manages to sustain above the mark of $4400, then it may further strengthen to $4480.

SILVER

COMEX silver prices managed to trade above the crucial resistance of $64, and are currently trading near the mark of $65.98. Upside in the white metal amid weakness in the dollar index, which is trading near 99.74. Further uncertainty over the US-Iran deal is also providing support to the silver prices amid hedge against inflation along with increasing crude oil prices above the mark of $80. Thus, if silver prices manage to sustain above the mark of $65, it would further move towards the mark of $67-$72. Further investors are awaiting inflation numbers due on 12th August, that would provide further direction  to the silver prices. 

CRUDE

Crude oil prices traded with positive bias for the fourth consecutive trading session and managed to trade near the  mark of $86.35, amid uncertainty of US-Iran deal and reopening of Strait of Hormuz.Further Donald triumph continued to sweep in new demand, that include compensation for people killed in conflict post Tehran’s retaliation.This demand has further clouded the negotiation between US-Iran, that pushed the oil prices higher. If crude oil prices continued to trade above the mark of $85, then it may reach $90.

COPPER

Copper prices remain limited amid fall in inventory along with supply disruption and rise in demand .MCX copper gained 0.84% on monday and managed to sustain the level of 1376. Thus, If Copper prices sustains above the mark of ₹1370, can push the prices towards the mark of ₹1380. However, falling below 1360, would trigger weakness to the level of 1348.

Commodity Levels:

Evening Commodity Trading Guide 11^th Aug 2026

Gold Technical Outlook

MCX Gold (Oct): The active domestic October contract reflects a steady structure, maintaining its sentiment in line with COMEX. Overhead supply is expected near resistance at ₹1,55,000 – ₹1,56,500, while primary support rests between ₹1,53,500 – ₹1,52,000. Given the positive underlying trend, the primary tactical directive remains Buy on Dips. Simultaneously, long-term investors can consider buying in small amounts on every dip to systematically build core allocations inside value regions.

COMEX Gold (Spot): Spot gold demonstrates a Sideways Bullish Sentiment as prices consolidate within upper technical bands. Immediate resistance is positioned near $4,400 – $4,450, whereas key support buffers are identified near $4,360 – $4,310.

Overall View: Gold remains in a constructive consolidation-to-bullish phase. Active traders should seek buying opportunities during orderly pullbacks toward baseline support zones rather than chasing entries near overhead resistance boundaries.

Silver Technical Outlook

MCX Silver (Sept): Tracking international trends, the active September contract continues its supportive trajectory, keeping sentiments in line with COMEX. Resistance stands higher at ₹2,39,000 – ₹2,44,000, while immediate support is expected near ₹2,35,000 – ₹2,30,500. With the broader bias favoring buyers, the tactical recommendation is Buy on Dips. Likewise, long-term investors can consider buying in small amounts on every dip to construct core long-term exposure.

COMEX Silver (Spot): Spot silver carries a Sideways to Bullish Sentiment profile. Overhead resistance levels are placed at $66 – $68, while downside support buffers hold firm near $64.20 – $62.50.

Overall View: Silver maintains an upward-tilted consolidation pattern. Market participants should wait for shallow corrective pullbacks toward structural support bands to establish risk-defined long entries.

Crude Oil Technical Outlook

MCX Crude Oil (Aug): The active August contract trades in line with International NYMEX Spot prices, showing early fatigue following recent price moves. Immediate technical resistance is positioned at ₹7,950 – ₹8,100, while support is marked between ₹7,700 – ₹7,500. Market indicators suggest the contract is seeing some profit booking from higher levels as it was in the overbought zone, and may continue to show weakness in prices. Furthermore, traders should remain extra cautious, as heightened volatility persists amid ongoing geopolitical tensions.

NYMEX Crude Oil (Spot): Spot Crude Oil exhibits a Mixed Sentiment pattern as supply headline risks counter short-term momentum signals. Overhead resistance stands at $83 – $86, while key support levels are seen between $80.50 – $77.50.

Overall View: The crude oil complex is experiencing profit-taking pressure after entering overbought territory. Short-term traders should exercise caution and avoid aggressive buying until price action stabilizes above established support levels.

Copper Technical Outlook

MCX Copper (Aug): Directly tracking the global trend, the active August contract exhibits a well-defined bullish structure. Technical resistance is positioned at ₹1385 – ₹1395, while underlying support holds between ₹1377 – ₹1368. Technical projections indicate that prices may see an upmove after sustaining above the resistance zone. Nevertheless, traders should remain extra cautious, as heightened volatility persists amid ongoing geopolitical tensions.

COMEX Copper (Spot): Spot copper carries a Bullish Sentiment profile, underpinned by industrial demand expectations and tight inventory levels. Immediate technical resistance stands at $6.76 – $6.83, while key support levels are seen holding between $6.68 – $6.62.

Overall View: Copper maintains a positive technical outlook with potential for upside continuation upon a sustained breakout above immediate resistance hurdles. Disciplined risk management and strict stop-losses remain essential given market volatility.

Commodities: Pivot Table

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