Asian Metals Market Update for 15th June 2026

June 15, 2026

Last week, everyone had downgraded the short-term target for gold. The media was concerned about the over twenty percent fall (from the January highest price) in gold and the short-term bearish trend. If you had followed the media and the chatter, then you did not buy at last week’s lowest price.

Short-term bearish trend, longer, wider range consolidated price range is needed in gold and silver or any asset class which is bullish for the long term. March to Mid- June was one such phase. It is hopefully over. But inverse correlation will be there if there is a big rise in WTI/Nymex crude futures anytime in the next twelve months.

The twenty percent theorical rule should be applied (in gold, silver and copper and non-ferrous metals) if and only if the price trades below twenty percent for a minimum of ten consecutive weeks. If not, then the chance of a reversal is very high. Go by the practicalities and not by theory with regard to investing in precious metals and non-ferrous metals.

Intraday traders, very short- term investors, should just trade on the technical chart. Focus on volume, open interest and the technical indicators that you use. They ignore all kinds of economic data releases, geopolitical news, etc. Establish a set of rules for intraday trading and short-term trading with zero divergence from the rules.

A few points merit consideration with regard to the Iran peace deal.

First: The deal will be signed on Friday, 19th June. It will be after the Federal Reserve meeting and the Bank of Japan meeting. The Iran peace deal will have an impact on these two key central bank meetings.

Two: What if the Iran peace deal is not signed on Friday, and/or the peace deal is signed after the closure of the USA market?

Three: The sixty-day negotiation period of Iran's nuclear programme and Iran’s Uranium is a long time. Sixty days from 19th June is 18th August. Any news of a collapse of the peace deal will result in crude oil restarting to rise. Further, Trump has a habit of commenting every now and then. Retail Traders will be on edge due to fear of Trump’s comment.

Bloomberg News reports that the Japanese Yen Carry Trade has restarted. The yen carry trade had stopped after the Iran War. Restarting of yen carry trade should be bullish for precious metals and forex inflows into Asia (Other than China, South Korea and Taiwan).

There will be a technical breakout rally if the bullish trend continues today. There will be a FOMO (Fear Of Missing Out) rally if a bullish trend is there this week and more after the signing of the peace deal with Iran. Focus on resistance. Take one resistance at a time.

Copper and non-ferrous metals need to be in a short-term bearish phase for silver to crash. Right now, with supply side pressures and stable demand, a higher and longer demand outlook will prevent a short-term bearish trend in copper and non-ferrous metals. Precious metals traders and precious metal investors need to closely watch the copper price and the copper price trend for the rest of the year.

Spot Silver – Current Market Price $70.45

50 day MA: $75.56
100 day MA: $77.18
200 day MA: $73.09
TODAY VIEW: Spot silver can rise to $75.54 and $77.18 (by Friday) as long as it trades over $69.27.
A mild sell-off will be there if spot silver trades below $69.27 in the USA session.
Spot silver will also crash if it does not break and trade over the two-hundred-day simple moving average around $73.09 in the next seven trading sessions.
Views are intraday unless otherwise specified.
Low risk traders and low-risk takers trading in silver (spot, futures, and ETFs) should preferably be intraday traders till the end of June. I expect a big gap to open in Asia (Singapore open) every day till the end of June in spot silver.
A systematic investment plan (SIP) or a monthly SIP (physical or ETF, your choice) is the best way to invest in silver for the low-risk takers.
Derivative trading in silver is not for the low-risk takers.
Please assess your own risk profile if you intend to do a derivative trade in silver or trade in silver futures in any commodity exchange in the world.

DISCLAIMER: The investment ideas provided are purely independent viewpoints and are solely for collective learning and for academic interests. There is no commercial benefit accruing or deemed to accrue to me out of providing such investment ideas.

The investment ideas shared here cannot be construed as investment advice or so. If any reader is acting on this advice, they are requested to apply their prudence and consult their financial advisor before acting on any of the recommendations made here. I am not responsible to anybody in the event of profits and losses (if any) upon acting on such advice.

I hope that our reader is aware about this well aware of the risk involved in trading in commodity derivative trading.

Disclosure: I trade on India's MCX commodity exchange. I have open positions in India's MCX commodity futures. I do not trade in CME futures or OTC spot gold and spot silver.

NOTES TO THE ABOVE REPORT