Commodities Evening Wrap 10th june, 2026 by Axis Securities Ltd
Macro
* Gold fell to an 11-week low on Wednesday as rising oil prices, driven by renewed tensions between the U.S. and Iran, heightened concerns over inflation and the possibility of further interest rate hikes.
* Copper futures slipped below $6.3 per pound, surrendering earlier weekly gains as escalating Middle East tensions and increasing expectations of higher global interest rates weighed on the demand outlook for industrial metals.
* WTI crude oil prices declined to around $87 per barrel, reversing intraday gains despite escalating geopolitical tensions in the Middle East that continued to threaten ongoing peace negotiations
Gold
SELL GOLD BELOW 149000 SL ABOVE150000 TGT 147600/146800.
* Nearby Support: 1,49,000/ 1,47,000/ 1,45,500
* Nearby Resistance: 1,51,000/ 1,52,800/ 1,54,500
* Nearby Gaps: 1,52,000.
Silver
SELL SILVER BELOW 233000 SL ABOVE 247000 TGT 228000/223000.
* Nearby Support: 2,33,000/ 2,28,000/ 2,23,000
* Nearby Resistance: 2,38,000/ 2,43,000/ 2,48,000
* Nearby Gaps: 2,39,000.
Crude Oil
SELL CRUDEOIL BELOW 8340 SL ABOVE 8450 TGT 8180/8100.
* Nearby Support: 8,340/ 8,200/ 8,050
* Nearby Resistance: 8,550/ 8,720/ 8,900
* Nearby Gap(s): 8,707.
Copper
* Nearby Support: 1,315/ 1,308/ 1,298
* Nearby Resistance: 1,328/ 1,337/ 1,346
* Open Gap(s): 1,327.65.
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