Market Prediction for 21 September 2026: Gold, Silver, Crude Oil & Base Metals Outlook
Market Prediction for 21 September 2026: Commodity markets are likely to remain sensitive to global interest-rate expectations, crude oil supply developments and geopolitical news at the start of the new trading week. The latest Kotak Securities Evening Track report dated September 18 highlights a mixed setup across precious metals, energy and base metals.
Disclaimer: This article is for educational and informational purposes only. Commodity prices can change rapidly, and the levels discussed below are based on the September 18, 2026 research report and should not be treated as guaranteed targets or investment advice.
Gold Prediction for 21 September 2026
Gold entered the weekend with a relatively supportive technical setup. Spot gold moved toward $4,400 per ounce before easing to around $4,380, while lower Treasury yields and continued ETF inflows provided support. The report also notes that gold had moved back above its 100-day moving average.
MCX Gold Outlook
The September 18 report classifies MCX Gold October futures as bullish, with a stated trading range of approximately ₹1,52,950–₹1,55,230. The technical levels shown in the report are:
- Support 1: ₹1,53,673
- Support 2: ₹1,52,701
- Support 3: ₹1,51,222
- Pivot: ₹1,53,651
- Resistance 1: ₹1,55,130
- Resistance 2: ₹1,56,080
Outlook: The setup remains supportive as long as gold holds important support levels, although higher-for-longer interest-rate expectations could limit the upside.
Silver Prediction for 21 September 2026
Silver showed strong momentum, rising around 2.5% to $66.82 after an earlier 3.6% gain. This indicates strong recent movement in the precious-metals segment.
For MCX Silver December futures, the report lists:
- Support: ₹65,500 and ₹63,600
- LTP: ₹67,030
- Resistance: ₹67,980 and ₹68,560
These levels can be monitored by traders for the September 21 session.
Crude Oil Prediction for 21 September 2026
Crude oil remained under pressure for a third consecutive session. Brent crude moved below $104 per barrel, while WTI traded around $101. The decline was linked to easing supply-disruption concerns and developments surrounding US-Iran diplomacy.
However, the report highlights that geopolitical developments remain important. Pipeline restoration, tanker movement through the Strait of Hormuz and diplomatic progress could reduce the geopolitical risk premium, while renewed disruption could quickly tighten supply.
MCX Crude Oil Levels
According to the September 18 report:
- Support 1: ₹9,555
- Support 2: ₹9,461
- Support 3: ₹9,154
- LTP: ₹9,709
- Resistance 1: ₹9,863
- Resistance 2: ₹9,957
- Resistance 3: ₹10,264
The near-term setup therefore remains sensitive to geopolitical headlines and supply developments.
Copper & Base Metals Outlook
Base metals were mostly higher, supported by stronger Chinese demand signals. Copper was around $14,520 per tonne, while the Yangshan premium rose to $124 per tonne, its highest level since November 2022 according to the report.
The report describes the broader base-metals outlook as range-bound in the near term, with supply-side tightness providing support while macroeconomic uncertainty remains a constraint.
Natural Gas Prediction for 21 September 2026
US natural gas prices declined more than 1.5% to approximately $2.85/MMBtu as cooler weather forecasts reduced near-term power demand. Strong production also remained a negative factor, although tighter inventories provided some downside protection.
The report therefore describes the near-term natural-gas bias as moderately bearish.
Key Factors to Watch on 21 September
Commodity traders should closely monitor:
- US interest-rate expectations
- US Treasury yields
- Gold ETF flows
- Crude oil supply developments
- Strait of Hormuz shipping activity
- US-Iran diplomatic developments
- Chinese demand for industrial metals
- Weather and US natural-gas production
Commodity Market Outlook for 21 September 2026
| Commodity | September 21 Outlook | Important Levels |
|---|---|---|
| MCX Gold | Bullish bias | Support ₹1,53,673; Resistance ₹1,55,130 |
| MCX Silver | Strong momentum, watch resistance | Support ₹65,500; Resistance ₹67,980 |
| MCX Crude Oil | Geopolitically sensitive | Support ₹9,555; Resistance ₹9,863 |
| Copper | Range-bound bias | Watch global demand and supply |
| Natural Gas | Moderately bearish | Weather and production key drivers |
Final Takeaway
The September 21, 2026 commodity market outlook points to a relatively supportive setup for gold, strong but volatile momentum in silver, continued uncertainty in crude oil and a range-bound environment for base metals. Natural gas faces pressure from cooler weather and strong production.
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