Bullion Index
The Benchmark index witnessed a Gap Up Opening on 6/1/26 and remain on sideways to higher side through out the day on continue to safe haven buying after fresh geopolitical tension added by FED rate cut bet and subdued dollar index force Silver towards 1-week high and which all resulted in index close near days high and well above over previous day close.
Now, Index has Support 36000-35800-200-34800-500-34000-33800-200-32800-600-32100- 31600-30800-30400 as long hold, more upside expected towards 36800-37000 in short term. Other side only Sustain below 30400 seen 29800-600-300-28900-500-100-27800-400 in days to come.
Price is trading above short term 13-days SMA and RSI at 71 mark with Flat slope indicates more room for Upside in the counter. Other side above zero line MACD seen buying support at every fall.
Metals Index
The Benchmark index seen a Gap Up Opening on 6/1/26 and remain on sideways to higher side through out the day on demand optimism, FED rate cut bet and strong demand – supply fundamentals for few of base metals, support prices at every dip and which all resulted in index close near days high and well above over previous day closing.
Now index has a Support at 22000-21700-300-20700-20450-20200-20000-19700, as long hold, more Upside expected towards 22800-23000 in medium term. While on lower side only sustain below 19700 seen 19000-18300-17500-17300 again in days to come.
Price is trading above short term 13 SMA while RSI at 72 marks with Upward slope indicates mix of the view in the counter. Other side above zero line MACD indicates more buying seen at every dip in the counter.
Technical Levels
| Commodity | Contract Month | CLOSE | S1 | S2 | R1 | R2 | Trend |
|---|---|---|---|---|---|---|---|
| BULLIONS(Rs.) | |||||||
| Gold M | Feb. | 139005 | 138300 | 137900 | 139100 | 139700 | SIDEWAYS |
| Silver M | Feb. | 260573 | 258000 | 255000 | 261000 | 263000 | BULLISH |
| Energy | |||||||
| Crude Oil | Jan. | 5210 | 5185 | 5100 | 5280 | 5325 | SIDEWAYS |
| Natural Gas | Jan. | 306.30 | 300 | 294 | 320 | 330 | BEARISH |
| BASEMETALS | |||||||
| Copper | Jan. | 1338.30 | 1320.0 | 1310 | 1340 | 1355 | BULLISH |
| Zinc | Jan. | 315.65 | 313.0 | 310.0 | 317.0 | 320.0 | SIDEWAYS |
| Lead | Jan. | 193.55 | 190 | 187 | 195 | 198 | BULLISH |
| Nickel | Jan. | 1777.50 | 1700 | 1650 | 1850 | 1900 | SIDEWAYS |
Vibhu Ratandhara
Digitally signed by Vibhu Ratandhara Date: 2026.01.07
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