Commodity Market (12th Aug 2026)

Commodity Levels:

Evening Commodity Trading Guide 12^th Aug 2026

Gold Technical Outlook

MCX Gold (Oct): execution remains solid for the active October contract, keeping its sentiment in line with COMEX. Technical resistance is positioned at ₹1,55,500 – ₹1,56,500, while the key support zone lies between ₹1,54,500 – ₹1,53,500. Under this constructive chart configuration, the primary tactical approach remains Buy on Dips. For strategic portfolio building, long-term investors can consider buying in small amounts on every dip within core value regions.

COMEX Gold (Spot): Spot gold maintains a Sideways Bullish Sentiment as prices consolidate within elevated ranges. Immediate resistance is positioned near $4,450 – $4,500, while key support levels are seen near $4,380 – $4,340.

Overall View: Gold continues to trade in a firmly grounded, upward-tilted consolidation pattern. Market participants should prioritize buying on shallow dips toward underlying support rather than chasing high-level breakouts near immediate resistance limits.

Silver Technical Outlook

MCX Silver (Sept): Tracking global precious metal strength, the active September contract maintains positive momentum, keeping sentiments in line with COMEX. Overhead resistance stands at ₹2,41,800 – ₹2,44,000, with primary support expected near ₹2,38,200 – ₹2,36,400. With the broader structure favoring buyers, the primary recommendation is Buy on Dips. Simultaneously, long-term investors can consider buying in small amounts on every dip to construct long-term allocations.

COMEX Silver (Spot): Spot silver exhibits a Sideways to Bullish Sentiment profile. Resistance levels are placed at $66.80 – $68.20, and downside supports are likely established around $65.75 – $64.20.

Overall View: Silver maintains a bullish-biased consolidation phase. Technical setups favor entering long positions during orderly pullbacks into defined support bands with strict risk management.

Crude Oil Technical Outlook

MCX Crude Oil (Aug): Trading in line with International NYMEX Spot prices, the active August contract is attempting to construct a baseline for upside momentum. Immediate technical resistance rests at ₹8,050 – ₹8,250, while downside support is identified at ₹7,850 – ₹7,700. Market metrics indicate the contract may see an upmove after sustaining above the resistance zone. However, traders should remain extra cautious, as heightened volatility persists amid ongoing geopolitical tensions.

NYMEX Crude Oil (Spot): Spot Crude Oil displays a Mixed Sentiment pattern as global supply dynamics interact with short-term speculative positioning. Resistance stands at $84.50 – $86.40, while key support levels are seen between $82.50 – $80.

Overall View: Crude oil shows potential for upward continuation provided prices break and hold above the resistance barrier. Given persistent headline risks and sudden price shifts, strict stop-loss adherence is vital.

Zinc Technical Outlook

MCX Zinc (Aug): Directly tracking global trend, the active August contract maintains a strong chart structure while approaching upper technical boundaries. Overhead resistance is positioned at ₹400 – ₹407, while demand underpins support between ₹395 – ₹388.50. Technical projections suggest the contract may see an upmove after sustaining above the resistance zone but stay cautious as it is in the overbought zone; from higher levels, may see profit booking as well. Furthermore, traders should remain extra cautious, as heightened volatility persists amid ongoing geopolitical tensions.

LME Zinc (Spot): LME Zinc reflects a clear Bullish Sentiment profile driven by steady industrial participation. Resistance stands at $3,780 – $3,800, while key support levels are seen holding between $3,750 – $3,730.

Overall View: Zinc retains a bullish posture, though overbought signals caution against unhedged breakout buying. Traders should look for sustained confirmation above key resistance zones while remaining mindful of potential profit-booking near multi-week highs.

Commodities: Pivot Table

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