Asian Metals Market Update for 4th September 2026

September 04, 2026

I am not changing bullish outlook for my medium term and long term in gold, silver, copper and non-ferrous metals. I am ignoring comments and view by blokes in Federal Reserve on interest rate hike and taming inflation. Demand fundamentals are very strong for precious metals and non-ferrous metals.

Copper and Aluminium are substitutes. There is no substitute for copper and aluminium. 2026 is the year of forest fire and severe heat in Europe. Europe has to update its electricity grid infrastructure to meet rising temperature. Europe needs air-conditioners as well. Europe will need huge quantities of either copper or aluminium for grid upgrade. AI data centre and EV demand and global demand outlooks is not enough to meet current available stock. (copper and aluminium)

Silver in plant and machinery and equipment are the best way to beat global warming. Silver use (current and future) is multiple time more than any metal. (precious, ferrous and non-ferrous). Premium equipment and high end consumer durable will continue to use silver for peak performance.

Thanks to Trump, intraday volatility and short-term volatility will be very high. All asset classes will be intraday traders’ paradise and short-term investors nightmare for the next thirty months. Except for AI and bond yield, the fundamental will not change even with Trump antics. Country wise stock allocation will change after USA senate elections is over.

U.S. Vice President JD Vance said the fighting between the United States and Iran was ‌not a war and declined to provide a timeline for when the conflict would be over. The Trump administration is changing the media narrative of the Iran war by saying it is not a war. if Iran war is not a war then what is it, a religious war for the American voters. Iran war is here to stay. South Korea will send its military assets to the strait of Hormuz.

Geopolitics makes me believe that gold is poised for big $2500-$3000 quick rise post the US Senate elections are over. All I can say that spot gold first rise to $10,000 plus first and not $3500.00. Bond yield trend will be key short term driver of gold price apart from technical and momentum.

Crude oil and rising crude oil price (if any) for the rest of the year is the only risk to global economy and interest rate stance of central banks (other than Federal Reserve).

USA is closed on Monday. USA economic performance between September to January (2027) is crucial. American summer is over. Positive economic impact due to soccer world cup will vanish before Christmas.

A low August NFP and/or a rise in August US unemployment rate (if any) today will have a limited time impact on precious metals and non-ferrous metals. Further one needs to ignore price move in usd/jpy and JGB yield (Japan government bond) or yen carry trade as bank of Japan is now a subsidiary of Federal Reserve.

Spot Silver – Current Market Price $66.64

100 day simple MA: $66.05
200 day simple MA: $73.82
Key intraday resistance: $67.50 and $69.10
Key intraday support: 65.24
TODAY AND MONDAY: Spot silver has to trade over $65.24 to rise to $69.11, $72.94 and more.
Crash or sell off will be there if spot silver trades below $65.24 after NFP and till days close and Monday whole day.
Views are intraday unless otherwise specified.
Low risk traders and low risk takers trading in silver (spot, future and ETF) should preferably be an intraday trader till 19^th September.
A systematic investment plan (SIP) or 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 asses your own risk profile if you intend to do derivative trade in silver or trade in silver future in any commodity exchange of the world.

DISCLAIMER: The investment ideas provided is purely independent view point and are solely for collective learning and for academic interests. There is no commercial benefit accruing or have 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 these advices, 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 in India's MCX commodity exchange. I have open positions in India's MCX commodity future. I do not trade in CME future or OTC spot gold and spot silver.

NOTES TO THE ABOVE REPORT