COMMODITY MARKET (27th Aug 2026)

Morning Commodity Market Snapshot

GOLD

COMEX gold traded with positive bias and managed to gain momentum and breach the $4600 mark again at the wee hours of the trading session Thursday , after closing the previous session at 4597.70. The fall in the gold prices was attributed to the annual inflation number released on Wednesday which remains steadily above the 2% inflation target of Fed for the 65th consecutive month, bringing back the fear of interest rate hike in the months to come. Prelim Q2 GDP did not give any surprise to the market keeping steady at 1.55%. Kevin Warsh’s speech in Jackson Hole Symposium would make further impact to the market. Also the market is watching on the treasury department’s decision on  to double liquidity-support buyback operations for longer-dated notes and bonds, that would only make dollars weak, thus supporting gold prices.

SILVER

COMEX silver prices is also seen to have gained momentum and is hovering near $69 Silver prices can further push the prices towards the $71, amid sustained trading above the key psychological level of $67. Steady inflation above the mark of 2% for the 65th consecutive month and steady GDP at 1.5% did push the silver prices lower, but gained momentum at the early trading session of Wednesday. The silver prices are being supported amid risk trade debasement, as investors are seeking safer investment options amid the US debt crisis and weaker dollar. Also investors will keep an eye on Kevin Warsh’s speech to be delivered at the Jackson Hole symposium, due on 27-29 August. On the technical front, if Silver manages to breach the level of $71, it may strengthen to reach $74.

CRUDE

Despite new U.S. sanctions, Brent crude prices remained steady at around $86 per barrel. This drop is mainly due to a diplomatic deal between Iran and Oman splitting control and revenue over the Strait of Hormuz, though Iran warned that restoring traffic will take further action. Meanwhile, Donald Trump noted that 10 million barrels of oil navigated the Strait on Tuesday and maintained that the waterway’s mines have been cleared.

Copper

MCX copper settled at 1391 amid profit booking at higher levels. But copper prices are expected to remain elevated amid supply disruption and rise in demand. If Copper maintain prices above the mark of ₹1400, can reach the prices towards ₹1410/1415. However, if price reach below 1380, would trigger weakness to the level of 1375.

Commodity Levels:

Evening Commodity Trading Guide 27^th Aug 2026

Gold Technical Outlook

MCX Gold (Oct): The domestic October contract is consolidating near lower support bounds, keeping its sentiment in line with COMEX. Immediate technical resistance is positioned at ₹1,59,000 – ₹1,60,500, while a primary support zone lies between ₹1,58,000 – ₹1,56,800. Under this constructive chart framework, the key trading approach remains Buy on Dips. For strategic portfolio building, long-term investors can consider buying in small amounts on every dip to accumulate core positions within value zones.

COMEX Gold (Spot): Spot gold displays a Sideways to Bullish Sentiment profile as prices hold above key structural demand limits. Immediate overhead resistance is identified near $4,620 – $4,650, while major underlying support levels are seen holding near $4,580 – $4,550.

Overall View: Gold maintains a well-supported tone within its active consolidation range. Traders should utilize pullbacks toward baseline support levels to look for risk-defined long entries.

Silver Technical Outlook

MCX Silver (Sept): Tracking international price action, the active September contract continues its stable path, keeping sentiments in line with COMEX. Technical resistance stands at ₹2,40,500 – ₹2,43,000, with primary support expected near ₹2,38,000 – ₹2,35,000. With the broader chart setup favoring buyers, the tactical guidance remains Buy on Dips. Simultaneously, long-term investors can consider buying in small amounts on every dip to build long-term allocations.

COMEX Silver (Spot): Spot silver exhibits a Sideways to Bullish Sentiment profile. Key technical resistance hurdles are placed at $69 – $70, while underlying support buffers are likely established around $68 – $67.

Overall View: Silver remains in a healthy, well-defined accumulation band. Look for corrective dips into primary support zones to execute continuation setups.

Crude Oil Technical Outlook

MCX Crude Oil (Sept): Trading in line with International NYMEX Spot prices, the contract is encountering overhead supply resistance. Technical resistance is positioned at ₹7,950 – ₹8,120, while immediate support rests between ₹7,800 – ₹7,600. Technical analysis indicates that weakness in prices may continue after breaching the support zone. Furthermore, traders should remain extra cautious, as heightened volatility persists amid ongoing geopolitical tensions.

NYMEX Crude Oil (Spot): Spot Crude Oil carries a Sideways to Bearish Sentiment structure as upside momentum cools. Overhead resistance stands between $83.20 – $85, while key support levels are established at $81.50 – $80.

Overall View: Crude oil retains a defensive, sideways-to-bearish stance. Avoid chasing upside moves near resistance and closely watch key support floors for potential breakdown continuation.

Zinc Technical Outlook

MCX Zinc (Sept): Directly tracking global trend, the active September contract continues to reflect solid buying interest. Technical resistance is positioned at ₹418 – ₹422, while underlying support underpins price action between ₹412 – ₹407. Under this bullish setup, the primary tactical approach remains Buy on Dips. However, traders should remain extra cautious, as heightened volatility persists amid ongoing geopolitical tensions.

LME Zinc (Spot): LME Zinc maintains a firm Bullish Sentiment profile supported by steady industrial demand dynamics. Technical resistance stands at $3,920 – $3,950, while key support levels are established between $3,870 – $3,840.

Overall View: Zinc retains a firm bullish trend structure. Technical pullbacks toward support bands continue to present favorable risk-reward entry opportunities for long positions.

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