COMMODITY MARKET (17th September 2026)

Morning Commodity Market Snapshot

GOLD

COMEX gold prices traded with positive bias, after a volatile session on Wednesday. Yellow metal has managed to sustain above the mark of $4250, and is currently trading with gain of 0.47% at the mark of 4283.26,even after FED hike the interest rate by 25 bps, taking its interest rate to 4%. Yellow metal did get support from a plunge in oil prices below the mark of $105, as Saudi Arab reported to have been offering extra Crude cargoes through Oman, thus reducing supply worries. Thus, on technical front, yellow metal must trade above the mark of $4300, for further rally else prices can go in consolidation range of $4250-$4300.

SILVER

COMEX silver prices  continued to respect the $63 level and are currently trading with a gain of 0.72% from previous close of 62.96. Upside in the white metal remained capped as the Fed hiked interest rate by 25 Bos, with signal for further rise in interest rate if inflation doesn’t come under control. But with oil prices taking a breather, Silver prices found support and respected the crucial support of $63. Thus, if prices manage to breach the mark of $65, the next target for the silver would be $67, in the short term.

CRUDE

Brent Crude prices traded with flat momentum and had plunged to the mark of $101.96 at the early hours of the trading session on Thursday , with Saudi Arabia planning to restore half of capacity of east-west pipeline, and bringing it back to full capacity of operation within six weeks, has oil prices under check amid easing easing tension of Supply disruption, despite US-Iran tension. Thus, if prices fall under the mark of $00, price may reach for $98 and $95, eventually, with no update from US-Iran war.

COPPER

MCX copper prices managed to pull itself above the mark of ₹1375, a crucial level, a sustained trading above this would provide support to the base metal to achieve the higher target of 1380. With interest rate hike in line with market expectation along with supportive fundamentals provided cushion to the base metal prices. Thus, If Copper prices continue to trade above the mark of ₹1375, can push the prices towards the mark of ₹1380. However, falling below the mark of  ₹1365, would trigger weakness to the level of ₹1350.

COMMODITY UPDATE

Evening Commodity Trading Guide 17^th Sept 2026

Gold Technical Outlook

MCX Gold (Oct): The domestic October contract is showing positive momentum and stabilization, keeping its sentiment in line with COMEX. Technical resistance is positioned at ₹1,52,500 – ₹1,54,000, while the support zone lies between ₹1,51,300 – ₹1,49,800. Chart patterns indicate the market may see an upmove after sustaining above the resistance zone. For strategic wealth allocation, long-term investors can consider buying in small amounts on every dip to build core long-term positions.

COMEX Gold (Spot): Spot gold exhibits a Sideways to Bullish Sentiment profile as buying interest emerges at lower bounds. Immediate resistance is identified near $4,360 – $4,400, while key underlying support levels are seen near $4,300 – $4,260.

Overall View: Gold displays an improving technical structure. A sustained trade above overhead resistance can trigger further upside continuation, while structural investors should continue scaling into value dips.

Silver Technical Outlook

MCX Silver (Dec): Following international benchmark strength, the active December contract reflects an improving chart setup, keeping sentiments in line with COMEX. Technical resistance stands at ₹2,35,000 – ₹2,38,000, with support expected near ₹2,32,500 – ₹2,30,000. Technical indicators suggest the contract may see an upmove after sustaining above the resistance zone. Concurrently, long-term investors can consider buying in small amounts on every dip to build long-term holdings.

COMEX Silver (Spot): Spot silver holds a Sideways to Bullish Sentiment profile. Resistance levels are placed at $64.50 – $66, while primary supports are likely established around $63.50 – $62.30.

Overall View: Silver maintains a firm foundation with potential upside extension once technical resistance bands are breached. Dip-buying strategies remain effective across broader timeframes.

Crude Oil Technical Outlook

MCX Crude Oil (Sept): Trading in line with International NYMEX Spot prices, the contract demonstrates robust upside momentum. Technical resistance is positioned at ₹9,320 – ₹9,500, while primary support rests between ₹9,150 – ₹9,000. Chart setups indicate the market 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 WTI Crude Oil (Spot): Spot Crude Oil carries a Sideways to Bullish Sentiment profile, supported by ongoing global supply sensitivities. Resistance stands at $102 – $105, while key support levels are seen between $100 – $97.80.

Overall View: Crude oil exhibits strong momentum toward upper target zones. Breakout traders should look for confirmation above immediate resistance while keeping strict stop-losses in place due to headline-driven swings.

Zinc Technical Outlook

MCX Zinc (Sept): Directly tracking global trend, the active September contract continues to hold a clear bullish structure. Technical resistance is positioned at ₹426.50 – ₹430, while strong support underpins price action between ₹422.50 – ₹418. Under this strong technical setup, the key tactical stance remains Buy on Dips. Nevertheless, traders should remain extra cautious, as heightened volatility persists amid ongoing geopolitical tensions.

LME Zinc (Spot): LME Zinc maintains a Bullish Sentiment profile, driven by tight market conditions and steady demand fundamentals. Resistance stands at $3,880 – $3,920, while key support levels are established between $3,830 – $3,780.

Overall View: Zinc retains its dominant uptrend. Pullbacks toward primary support zones provide favorable risk-reward entry opportunities for dip buyers.

Commodities: Pivot Table

Disclaimer:

Investment in securities markets is subject to market risks. Please read all related documents carefully before investing. (Our SEBI Reg. No. INH000010335)

AI Usage Disclosure: Artificial Intelligence (AI) tools were utilized exclusively for document formatting, structural layout, and presentation refinement.
All underlying research, financial analysis, forecasts, and investment recommendations are fully independent and conducted solely by the analyst(s).

For Full Disclaimer: Click Here