Muhurat trading usually focuses on equities, but it holds equal importance for investors and traders in asset classes such as commodities. Here, we take stock on how the Base Metals and Precious Metals performed in Samvat 2082 and what is in store for them in Samvat 2083.
Metals shine
Base Metals have come out as a clear winner against the Precious Metals this year (Samvat 2082). Tin tops the table among the base metals followed by Copper and Zinc. The Tin Futures contract, traded in the London Metal Exchange (LME), has risen 32 per cent this Samvat. The LME Copper on the other hand has risen about 29 per cent. The metal price surged 39 per cent to touch a high of $14,875 per tonne in September and has come down from there. The LME Zinc is up 25 per cent.
On the domestic front, the weakness in rupee has given an additional boost for the metal prices. Zinc leads the table among the metals traded in the Multi Commodity Exchange (MCX). MCX Zinc is up 40 per cent. This is followed by MCX Copper (up 35 per cent) and MCX Aluminium (up 26 per cent).
Dollar weakness aided the metals price initially. However, it was the supply disruption that has been playing out largely on the back of this price rise. The closure of the Strait of Hormuz pushed up the prices of aluminium and copper. Gulf countries contribute about 9 per cent of global aluminium supply. They also supply 50 per cent of the seaborne sulphur, a major component used in copper production. Apart from this, disruptions due to smelter and mine closures also aided zinc and copper prices specifically.
Lose glitter
The sharp fall in the calendar year 2026 has taken the sheen off the precious metals in Samvat 2082. Gold and Silver were up 29 per cent and 132 per cent when they touched their respective highs in January 2026. But the sharp fall thereafter has taken out all the glitter from both gold and silver. On the global front, gold, currently at $4,070 per ounce, is down 6.5 per cent. Silver, at $51.90 per ounce, is down 1 per cent.
Interestingly, on the domestic market, MCX Gold and MCX Silver are up 8.5 per cent and 16 per cent, respectively, due to the rupee weakness.
What next?
Will the base metals outshine in Samvat 2083 as well? Here is our forecast based on technical analysis using charts.
LME Copper ($13,768) has a crucial resistance in the $15,000-15,200 region, which can cap the upside. We expect the price to see a sharp fall to $11,600 or $11,200. After this fall, a bounce back move to $13,500-14,000 is a possibility.
To avoid this fall, the price has to breach $15,200 decisively. If that happens, $16,500-16,700 can be seen on the upside.
LME Aluminium ($3,062) has come down sharply after making a high of $3,787 in June. Good resistance is now at $3,450. Support is at $2,970. We expect LME Aluminium to break this support and fall to $,2720-2,700 in the coming months. After this fall, a bounce back move to $3,000-3,100 is a possibility.
To negate this fall, LME Alumininum has to get a sustained break above $3,450. If that happens, $3,800 and $4,100 levels can be seen.
LME Zinc ($3,711) has some more room to rise. Immediate support is $3,680. While that holds, a rise to $4,200-4,250 is possible. After this rise, the price can fall back to $3,800 or even $3,600.
If the price fails to rise above $4,000 from here and instead, breaks below $3,680, the rise to $4,200-4,250 will get negated. In that case, a fall $3,500 or $3,300 is possible.
Published on November 7, 2026