Morning Commodity Market Snapshot

GOLD

COMEX gold prices has breached the mark of $4300 at the wee hours of the first trading session of the week and is currently trading near the level of $4330, amid an agreement between US-Iran, though interim. This agreement is believed to normalize oil flow, thought would ultimately sooth the oil driven inflation risk. The agreement is due to be signed on 19th June, 2026 in Switzerland.

SILVER

COMEX Silver prices also showed similar euphoria as gold is seen trading higher 3.54% near the level of $70, amid the interim peace deal between US-Iran, thus putting full stop to war which started on 29th February. This deal is to be signed on 19th June, 2026 in Switzerland, that is expected to normalize oil flow, flow opening of strait of Hormuz blockade and also relief on sanction on Iran and dismantling of Tehran’s Nuclear power.

CRUDE

Brent Crude prices plunged below $90 and is currently hovering near the level of $84, lowest level since 9th March, 2026, amid a peace deal between US-Iran that has been agreed upon to be signed on 19 June in Switzerland. With removal of blockade, oil and refined product exports can resume quickly through the Strait of Hormuz, which will further pressurize oil prices. In the technical front if prices fall below $81, then it may further fall towards $76. Tracking the movement of Brent crude MCX crude is also expected open with ap down.

Copper

MCX copper prices  that closed at Rs1335 on Friday, are expected to open with positive bias and may reach for the next upside destination of Rs1343, as US-Iran has finally reached an agreement that is due to be signed on 19 Th September 2026.  Further investor might stay cautious as well ahead of Fed meeting due on 16-17 June, where market is expecting a status quo in the interest rate for the current meeting.

COMMODITY LEVELS:

Evening Commodity Trading Guide 15^thJun 2026

Gold Technical Outlook

MCX Gold (Aug): The domestic August contract has regained structural strength, shifting its short-term sentiments in line with COMEX. The contract is actively building positive momentum above its primary accumulation zones, with overhead resistance now positioned at ₹1,54,000 – ₹1,55,500. On the lower boundary, a reliable structural demand floor lies between ₹1,52,500 – ₹1,51,000. Technical indicators suggest that the yellow metal may see an upmove after sustaining above the resistance zone, potentially triggering an influx of fresh momentum buying.

COMEX Gold (Spot): Spot gold has transitioned into a firm Bullish Sentiment profile as buying pressure intensifies near key cyclical inflection points. This renewed aggressive posture leaves immediate technical resistance established near $4,350 – $4,400. Downside exposure remains neatly insulated and tightly defended by bulls, with key support levels holding reliably near $4,300 – $4,250.

Overall View: With the primary trend leaning constructively higher, the broader setup favors long exposure on breakout confirmations or minor value-area pullbacks. Short-term traders should look for sustained hourly closes above local ceilings to validate new long positions. For strategic portfolio builders, this upward shift confirms strong underlying interest; long-term investors can consider buying in small amounts on every dip down toward core support baselines to steadily build quality exposure.

Silver Technical Outlook

MCX Silver (Jul): The domestic July contract has experienced a sharp positive reversal, keeping its near-term sentiments in line with COMEX. Immediate relief rallies are transforming into structured advances, placing major technical resistance at ₹2,56,000 – ₹2,62,000. On the flip side, dynamic downside safety nets are expected near the support zone of ₹2,50,000 – ₹2,44,000. Charts indicate that the white metal may see an upmove after sustaining above the resistance zone, which could pave the way for a multi-session trend extension.

COMEX Silver (Spot): Spot silver has drifted into a strong Bullish Sentiment profile as industrial demand projections and technical short-covering align to fuel buyer aggression. The metal is confidently challenging upper distribution fields, with resistance levels placed at $72 – $75 acting as the next major target area. Meanwhile, localized buying interest continues to defend the structural floors, keeping major supports firmly placed around $69.50 – $66.

Overall View: The momentum across the silver complex has tilted back in favor of the bulls, making the accumulation of long positions on brief price retracements the preferred tactical blueprint. Shorter-term traders should use tight stop-losses beneath localized consolidation floors to manage risk. On a macro level, this structural breakout offers a healthy entry window; long-term investors can consider buying in small amounts on every dip within the major demand pockets to smoothly optimize long-term entry pricing.

Crude Oil Technical Outlook

MCX Crude Oil (Jun): The domestic June contract continues to mirror global parameters, moving safely in line with International NYMEX Spot prices. Near-term price action faces prominent overhead supply caps, with technical resistance mapped at ₹7,800 – ₹8,200. On the lower boundary, the floor demands careful monitoring, with key structural support located at ₹7,400 – ₹7,000. Technical indicators indicate that weakness in price may continue, although we can expect a bounce from support levels but overall be cautious as underlying trend stabilities remain highly fragile.

NYMEX WTI Crude Oil (Spot): WTI Crude Oil has drifted into a temporary Bearish Sentiment as macro pressures and shifts in momentum line up against the energy market. Relief rallies are running into a well-defined ceiling, with immediate resistance standing at $82 – $85 keeping buyers at bay. On the lower end, key support levels are seen near $79 – $76, which will serve as crucial lines of defense for bulls trying to stabilize the trend.

Overall View: The path of least resistance for the energy complex remains defensive for the immediate horizon, meaning tactical boundary discipline and strict confirmation are vital. Short-term traders should exercise patience and avoid premature bottom-fishing before values baseline. Because heightened volatility persists amid ongoing geopolitical tensions, traders should remain extra cautious. Lock in partial profits at regular technical boundaries and use strict trailing stop-losses to hedge against swift, headline-driven reversals.

Copper Technical Outlook

MCX Copper (Jun): Directly tracking the global trend, the domestic June contract showcases a stable and resilient chart footprint. Short-term sellers are actively clustering near the immediate overhead resistance band at ₹1,350 – ₹1,365, while solid demand forces wait to absorb localized soft patches at the support floor of ₹1,335 – ₹1,320. Given the current structural positioning, the primary intraday blueprint centers on a tactical “Buy on Dips” scenario near these vital support baselines.

COMEX Copper (Spot): COMEX Copper continues to navigate a stable Sideways Sentiment block, taking a technical breather just below multi-week milestones. Immediate overhead friction stands at $6.60 – $6.72, acting as the current threshold for breakout buyers. Meanwhile, downside exposure remains well-insulated, with key support levels seen holding robustly between $6.50 – $6.40 to maintain structural equilibrium.

Overall View: The industrial metal remains in a healthy foundational phase, making strategic accumulation near primary support channels a high-probability playbook. Nonetheless, because macro variables and supply-chain logistics remain highly fluid, sudden turns in headline risk can quickly alter near-term trends. Traders should remain extra cautious, as heightened volatility persists amid ongoing geopolitical tensions. Lock in partial profits at regular technical intervals and rely on robust risk management rules to protect trading capital.

Commodities: Pivot Table

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