COMMODITY MARKET (14th Aug 2026)

Morning Commodity Market Snapshot

GOLD

COMEX gold traded with negative momentum for the second consecutive trading session and failed to sustain above the mark of $4400, and is currently trading at the mark of $4340. This sluggishness in the gold prices is attributed to profit booking at a higher level. However, US PPI inflation number also came below the market expectations thus, taming expectation of  the rise in interest rate, due to be taken in September. Thus downside in the gold price expected to remain limited with the dollar index below the mark of 100 and is currently near 99.89. Further Unemployment claims also rose to 209K from market expectation of 202K and the previous number of 200K. But if prices fall below the mark of $4350, it may reach for downside destination of $4320.

SILVER

COMEX silver prices plunged below the mark of $65 and is currently trading near $63 amid profit booking at the higher levels. However downside in the prices are expected to remain limited  as slowing US PPI inflation in July, which has reduced the chance of a 25 bps rate hike to 40% from earlier 50% as per the FED watch tool. Rising unemployment is also expected to provide support to the silver prices. But sustained trading below the mark of $65, may trigger some weakness in the silver prices towards the mark of $61, in near term. However, if the index manages to retest the level of $65, it may again be stronger to reach $71.

CRUDE

Crude oil prices traded with flat to positive bias, with some buying witnessed at lower side. However, prices must sustain above the mark of $85, to reach for the upside destination of $90. But Crude oil prices are expected to remain under pressure as OPEC has lowered the demand outlook for 2026 to 580,000 barrels per day, marking its fourth consecutive downward revision. Further IEA, also cut its demand outlook citing the reason for elevated prices weighing on consumption. Thus, if prices fall below the $80, we may see prices slipping to the level of $80.

COPPER

MCX copper gained 0.05% but  slipped below the mark of 1380, to settle the day at 1375.85. Copper prices are expected to stay elevated amid  fall in inventory along with supply disruption and rise in demand of EV, Solar energy, AI data centres. The weakness in copper is witnessed amid profit booking at higher levels, though the trend continues to remain positive. Thus, If Copper prices sustains above the mark of ₹1370, can push the prices towards the mark of ₹1385. However, falling below 1360, would trigger weakness to the level of 1348.

Commodity Levels:

Evening Commodity Trading Guide 14^th Aug 2026

Gold Technical Outlook

MCX Gold (Oct): The active October contract continues to demonstrate a resilient structure, keeping its sentiment in line with COMEX. Immediate technical resistance is positioned at ₹1,54,800 – ₹1,56,600, while the key support zone lies between ₹1,53,200 – ₹1,52,000. Given the ongoing constructive technical setup, the primary trading strategy remains Buy on Dips. For strategic portfolio building, long-term investors can consider buying in small amounts on every dip to systematically accumulate positions within core value regions.

COMEX Gold (Spot): Spot gold displays a Sideways to Bullish Sentiment as prices consolidate within upper trading bands. Overhead resistance is identified near $4,400 – $4,450, while major downside support levels are established near $4,350 – $4,310.

Overall View: Gold remains inside an upward-biased consolidation range. Active market participants should look for buying opportunities during orderly pullbacks toward established support zones rather than chasing entries near immediate resistance limits.

Silver Technical Outlook

MCX Silver (Sept): Tracking international trends, the domestic September contract maintains a solid chart profile, keeping sentiments in line with COMEX. Overhead technical resistance stands at ₹2,37,500 – ₹2,40,600, with primary support expected near ₹2,34,000 – ₹2,31,500. With the broader chart structure remaining favorable for buyers, the tactical directive is Buy on Dips. Simultaneously, long-term investors can consider buying in small amounts on every dip to build core long-term positions.

COMEX Silver (Spot): Spot silver exhibits a Sideways to Bullish Sentiment profile. Technical resistance hurdles are placed at $65.50 – $67, while immediate support buffers are likely established around $64.20 – $63.

Overall View: Silver continues to consolidate within horizontal parameters with a mild upward bias. Traders should utilize corrective pullbacks toward baseline support levels to structure risk-defined long entries.

Crude Oil Technical Outlook

MCX Crude Oil (Aug): Trading in line with International NYMEX Spot prices, the active August contract is holding near critical support limits. Immediate resistance is positioned at ₹7,920 – ₹8,050, while key underlying support rests between ₹7,750 – ₹7,600. Technical analysis highlights that $80 in NYMEX is very crucial. Until it breaks down, we can expect a bounce from Lower Levels. Nevertheless, traders should remain extra cautious, as heightened volatility persists amid ongoing geopolitical tensions.

NYMEX Crude Oil (Spot): Spot Crude Oil carries a Sideways Sentiment pattern as supply headline risks continue to interact with short-term demand concerns. Overhead resistance stands at $83 – $84.30, while key support levels are seen between $80.70 – $79.

Overall View: Crude oil remains at a pivotal juncture around the key $80 threshold. Tactical buyers can expect potential technical bounces off lower support zones as long as $80 holds, though news-driven market swings demand strict stop-loss adherence.

Zinc Technical Outlook

MCX Zinc (Aug): Directly tracking the global trend, the active August contract maintains strong underlying momentum despite minor high-level consolidation. Overhead resistance is positioned at ₹400 – ₹404.50, while demand underpins support between ₹395.50 – ₹390.50. Market metrics indicate that a bounce from Lower Support Levels can be expected, as we are seeing some consolidation at higher levels, so overall bullish and treat dips as an opportunity. However, traders should remain extra cautious, as heightened volatility persists amid ongoing geopolitical tensions.

LME Zinc (Spot): LME Zinc displays a high-conviction Bullish Sentiment profile driven by steady demand dynamics. Technical resistance stands at $3,780 – $3,810, while key support levels are seen holding between $3,750 – $3,720.

Overall View: Zinc retains a firm bullish posture. Technical dips toward immediate support bands offer favorable risk-reward entry opportunities for momentum continuation strategies.

Commodities: Pivot Table

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