Arif Habib Commodities -TOP Broker of Gold Forex Silver Cotton Copper Oil

25/08/2026

25/08/2026

RAYAAN COMMODITIES (ARIF HABIB GROUP)
TOP BROKER OF THE PAKISTAN MERCANTILE EXCHANGE
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GLOBAL MARKETS, COMMODITIES & FOREX DAILY REPORT
Date: August 24, 2026 | Issuance: 18:45 UTC
Prepared for: PMEX & Institutional Clients
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GLOBAL MARKET SUMMARY
• US Dollar Index (DXY): 99.40 (-0.28%) | Trading on the defensive as markets adjust post-debt stabilization measures and Jackson Hole expectations.
• US Treasury Yields: Benchmark 10-year US Treasury yields steady at 4.48%, with 2-year yields around 4.18%.
• Federal Reserve: Markets position for incoming PCE inflation data and central bank commentary on monetary policy trajectory.
• OPEC+ Policy: Energy markets remain well-supported by tight supply balances and disciplined production compliance.
• Inflation Data: Core inflation measures maintain steady containment while traders monitor upcoming US PCE releases.
• Geopolitical Developments: Persistent safe-haven flows provide firm underlying tailwinds to precious metals and energy markets.
• Risk Sentiment: Moderate risk appetite in blue-chip equities balanced by consolidation in tech shares.
• Commodity Overview: Gold establishes fresh highs above $4,660/oz and Silver surges near $70.00/oz; WTI Crude holds strong near $85.00/bbl.
• Forex Overview: EUR/USD rallies toward 1.1665 on broad Greenback softness, while JPY remains resilient on intervention vigilance.
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DETAILED INSTRUMENT ANALYSIS
1. PRECIOUS & INDUSTRIAL METALS
Gold (GC)
• Price: $4,660.60/oz | Daily: +$53.50 (+1.16%) | 5H: +0.32%
• Range: High $4,690.40 | Low $4,570.20
• Pivots: PP: $4,640.20 | R1: $4,710.20 | R2: $4,760.40 | S1: $4,590.00 | S2: $4,520.00
• Commentary: Gold trades near record levels at $4,660/oz, bolstered by persistent safe-haven flows and a softening US Dollar. Long positions remain firmly in control while trading above the $4,640 pivot. Initial technical resistance sits at $4,710. Momentum is Bullish.
• Bias: Buy | Confidence: High
Silver (SI)
• Price: $69.70/oz | Daily: +$0.75 (+1.09%) | 5H: +0.28%
• Range: High $70.15 | Low $68.45
• Pivots: PP: $69.43 | R1: $70.42 | R2: $71.13 | S1: $68.72 | S2: $67.73
• Commentary: Silver broke higher above $69.50/oz on robust industrial and investment demand. The metal is sustaining strong upward momentum toward $70.50 resistance. The technical trend remains clearly constructive above the daily pivot. Momentum is Bullish.
• Bias: Buy | Confidence: High
Copper (HG)
• Price: $6.32/lb | Daily: +$0.03 (+0.48%) | 5H: +0.10%
• Range: High $6.36 | Low $6.25
• Pivots: PP: $6.31 | R1: $6.37 | R2: $6.42 | S1: $6.26 | S2: $6.20
• Commentary: Copper trades with a positive tilt as physical market tightness cushions sentiment against macro crosscurrents. The red metal holds steadily above the $6.31 pivot level. Technical resistance lies near $6.37. Momentum is Neutral-to-Bullish.
• Bias: Buy | Confidence: Medium
Platinum (PL)
• Price: $1,612.40/oz | Daily: +$6.80 (+0.42%) | 5H: +0.15%
• Range: High $1,619.50 | Low $1,598.00
• Pivots: PP: $1,610.00 | R1: $1,621.90 | R2: $1,631.40 | S1: $1,600.40 | S2: $1,588.50
• Commentary: Platinum recovered above $1,610 on general precious metals tailwinds. Holding above the $1,600 baseline is crucial for buyers to test the $1,625 zone. Momentum is Neutral-to-Bullish.
• Bias: Buy | Confidence: Medium
Palladium (PA)
• Price: $1,258.00/oz | Daily: -$4.50 (-0.36%) | 5H: -0.08%
• Range: High $1,268.00 | Low $1,251.00
• Pivots: PP: $1,259.00 | R1: $1,267.00 | R2: $1,276.00 | S1: $1,250.00 | S2: $1,242.00
• Commentary: Palladium remains subdued below $1,260 due to steady auto-catalyst substitution trends. Technical bounces are met with steady selling pressure near $1,267. Momentum is Bearish.
• Bias: Sell | Confidence: Medium
2. ENERGY
Crude Oil WTI (CL)
• Price: $84.99/bbl | Daily: +$1.76 (+2.11%) | 5H: +0.45%
• Range: High $85.80 | Low $83.23
• Pivots: PP: $84.67 | R1: $86.12 | R2: $87.24 | S1: $83.55 | S2: $82.10
• Commentary: WTI Crude advanced to $85.00/bbl on heightened supply risks and ongoing OPEC+ production quotas. Dip buying remains active above $83.50. Upside targets point to $86.50 next. Momentum is Strong Bullish.
• Bias: Buy | Confidence: High
Natural Gas (NG)
• Price: $2.72/MMBtu | Daily: +$0.04 (+1.49%) | 5H: +0.20%
• Range: High $2.75 | Low $2.66
• Pivots: PP: $2.71 | R1: $2.76 | R2: $2.80 | S1: $2.67 | S2: $2.62
• Commentary: Natural Gas ticked higher toward $2.72 on late-summer power generation demand. The commodity is testing resistance at $2.76. Support holds firmly at $2.67. Momentum is Neutral-to-Bullish.
• Bias: Buy | Confidence: Medium
3. AGRICULTURAL COMMODITIES
US Corn (ZC)
• Price: 464.25c/bu | Daily: +2.50 (+0.54%) | 5H: +0.12%
• Range: High 466.00 | Low 460.00
• Pivots: PP: 463.42 | R1: 466.83 | R2: 469.42 | S1: 460.83 | S2: 457.42
• Commentary: Corn futures maintain mild upward momentum on steady export demand. A breakout above 466.00 opens room toward 470.00. Momentum is Bullish.
• Bias: Buy | Confidence: Medium
US Soybeans (ZS)
• Price: 1,212.00c/bu | Daily: +5.50 (+0.46%) | 5H: +0.18%
• Range: High 1,216.00 | Low 1,202.50
• Pivots: PP: 1,210.17 | R1: 1,217.83 | R2: 1,223.67 | S1: 1,204.33 | S2: 1,196.67
• Commentary: Soybeans reclaimed the 1,210.00 level on short covering and firm crush margins. Resistance is positioned at 1,218.00. Momentum is Neutral-to-Bullish.
• Bias: Buy | Confidence: Medium
US Wheat (ZW)
• Price: 682.50c/bu | Daily: +6.25 (+0.92%) | 5H: +0.30%
• Range: High 686.00 | Low 673.50
• Pivots: PP: 680.67 | R1: 687.83 | R2: 693.17 | S1: 675.33 | S2: 668.17
• Commentary: Wheat futures continue their rally past 682.00, driven by global export competition and supply risk premiums. Buyers are targeting 690.00. Momentum is Bullish.
• Bias: Buy | Confidence: High
US Cotton #2 (CT)
• Price: 80.65c/lb | Daily: +0.35 (+0.44%) | 5H: +0.08%
• Range: High 81.10 | Low 79.90
• Pivots: PP: 80.55 | R1: 81.20 | R2: 81.75 | S1: 80.00 | S2: 79.35
• Commentary: Cotton stabilized above 80.00 as technical support held on testing. Sluggish industrial mill demand keeps topside moves capped at 81.20. Momentum is Neutral.
• Bias: Neutral | Confidence: Medium
4. GLOBAL EQUITY INDEX FUTURES
Dow Jones Futures (YMU26)
• Price: 53,240 | Daily: +220 (+0.42%) | 5H: +0.15%
• Range: High 53,350 | Low 52,920
• Pivots: PP: 53,170 | R1: 53,420 | R2: 53,600 | S1: 52,990 | S2: 52,740
• Commentary: Blue-chip futures trade near records as resilient corporate earnings support broad sentiment. Strong buying persists above 53,000. Momentum is Bullish.
• Bias: Buy | Confidence: High
Nasdaq 100 Futures (NQU26)
• Price: 27,780 | Daily: +130 (+0.47%) | 5H: +0.18%
• Range: High 27,860 | Low 27,550
• Pivots: PP: 27,730 | R1: 27,910 | R2: 28,040 | S1: 27,600 | S2: 27,420
• Commentary: Tech futures rebounded after holding support at 27,550. Reclaiming 27,800 opens a path toward 28,000. Momentum is Bullish.
• Bias: Buy | Confidence: Medium
S&P 500 Futures (ESU26)
• Price: 7,575.25 | Daily: +18.50 (+0.25%) | 5H: +0.08%
• Range: High 7,588.50 | Low 7,544.00
• Pivots: PP: 7,569.25 | R1: 7,594.50 | R2: 7,613.75 | S1: 7,550.00 | S2: 7,524.75
• Commentary: S&P 500 futures trade solidly above 7,570, supported by balanced market breadth. Resistance sits at 7,595. Momentum is Bullish.
• Bias: Buy | Confidence: High
5. MAJOR FOREX PAIRS
EUR/USD: 1.1663 (+1.10%) | 5H: +0.18%
• Range: High: 1.1687 | Low: 1.1540
• Pivots: PP: 1.1630 | R1: 1.1720 | R2: 1.1775 | S1: 1.1575 | S2: 1.1485
• Commentary: EUR/USD advanced strongly to 1.1663 following broader Dollar weakness. Bulls are targeting 1.1700 while holding above 1.1600. Bias: Buy (High Conf.)
GBP/USD: 1.3365 (+0.35%) | 5H: +0.10%
• Range: High: 1.3385 | Low: 1.3300
• Pivots: PP: 1.3350 | R1: 1.3400 | R2: 1.3435 | S1: 1.3315 | S2: 1.3265
• Commentary: Cable holds strong above 1.3350, aided by firm BoE interest rate expectations. Bias: Buy (High Conf.)
USD/JPY: 158.85 (-0.45%) | 5H: -0.12%
• Range: High: 159.78 | Low: 158.03
• Pivots: PP: 158.88 | R1: 159.74 | R2: 160.62 | S1: 157.99 | S2: 157.12
• Commentary: USD/JPY remains top-heavy below 159.50 as intervention caution persists. Support sits at 158.00. Bias: Sell (Med Conf.)
USD/CHF: 0.8125 (-0.31%) | 5H: -0.09%
• Range: High: 0.8170 | Low: 0.8110
• Pivots: PP: 0.8135 | R1: 0.8160 | R2: 0.8185 | S1: 0.8100 | S2: 0.8075
• Commentary: USD/CHF edges lower due to persistent safe-haven Swiss Franc inflows. Resistance holds at 0.8160. Bias: Sell (Med Conf.)
USD/CAD: 1.4045 (-0.28%) | 5H: -0.08%
• Range: High: 1.4100 | Low: 1.4030
• Pivots: PP: 1.4058 | R1: 1.4087 | R2: 1.4128 | S1: 1.4017 | S2: 1.3988
• Commentary: The Canadian Dollar gains ground on WTI Crude's breakout toward $85/bbl. Bias: Sell (Med Conf.)
AUD/USD: 0.6975 (+0.42%) | 5H: +0.15%
• Range: High: 0.6990 | Low: 0.6930
• Pivots: PP: 0.6965 | R1: 0.7000 | R2: 0.7025 | S1: 0.6940 | S2: 0.6905
• Commentary: Aussie benefits from general Greenback softness, testing resistance at 0.7000. Bias: Buy (Med Conf.)
EUR/GBP: 0.8725 (+0.60%) | 5H: +0.08%
• Range: High: 0.8745 | Low: 0.8660
• Pivots: PP: 0.8710 | R1: 0.8760 | R2: 0.8795 | S1: 0.8675 | S2: 0.8625
• Commentary: EUR/GBP pushed higher on Euro outperformance across crosses. Bias: Buy (Med Conf.)
EUR/JPY: 185.30 (+0.70%) | 5H: +0.12%
• Range: High: 185.65 | Low: 183.90
• Pivots: PP: 184.95 | R1: 186.00 | R2: 186.70 | S1: 184.25 | S2: 183.20
• Commentary: EUR/JPY rallied past 185.00 as Euro strength outweighed JPY resilience. Bias: Buy (Med Conf.)
GBP/JPY: 212.30 (-0.10%) | 5H: -0.05%
• Range: High: 213.20 | Low: 211.80
• Pivots: PP: 212.43 | R1: 213.07 | R2: 213.83 | S1: 211.67 | S2: 211.03
• Commentary: Consolidating around 212.30. Support holds at 211.70. Bias: Neutral (High Conf.)
AUD/JPY: 110.80 (-0.05%) | 5H: -0.02%
• Range: High: 111.30 | Low: 110.40
• Pivots: PP: 110.83 | R1: 111.27 | R2: 111.73 | S1: 110.37 | S2: 109.93
• Commentary: Range-bound around 110.80. Bias: Neutral (Med Conf.)
EUR/CHF: 0.9478 (+0.75%) | 5H: +0.10%
• Range: High: 0.9495 | Low: 0.9400
• Pivots: PP: 0.9458 | R1: 0.9515 | R2: 0.9553 | S1: 0.9420 | S2: 0.9363
• Commentary: Euro demand pushed the cross higher toward 0.9480. Bias: Buy (Med Conf.)
JPY/GBP: 0.004710 (+0.10%) | 5H: +0.02%
• Range: High: 0.004725 | Low: 0.004685
• Pivots: PP: 0.004707 | R1: 0.004728 | R2: 0.004747 | S1: 0.004688 | S2: 0.004667
• Commentary: Range-bound conditions prevail. Bias: Neutral (Low Conf.)
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TOP 5 TRADING OPPORTUNITIES
* Gold (GC) — BUY
• Entry: $4,645.00 – $4,660.00
• SL: $4,600.00 | TP1: $4,710.00 | TP2: $4,750.00
• R/R: 1:2.0
• Reason: Strong bullish momentum backed by persistent safe-haven inflows and technical breakout.
* Crude Oil WTI (CL) — BUY
• Entry: $84.20 – $84.80
• SL: $83.00 | TP1: $86.50 | TP2: $87.80
• R/R: 1:2.1
• Reason: Robust supply-side support and momentum continuation above $84.50.
* EUR/USD — BUY
• Entry: 1.1620 – 1.1650
• SL: 1.1560 | TP1: 1.1720 | TP2: 1.1770
• R/R: 1:2.0
• Reason: Dollar index softness accelerating momentum toward 1.1700.
* Silver (SI) — BUY
• Entry: $69.00 – $69.50
• SL: $68.00 | TP1: $71.00 | TP2: $72.50
• R/R: 1:2.2
• Reason: Clear technical breakout above $69.00 driven by strong investment demand.
* Dow Jones Futures (YMU26) — BUY
• Entry: 53,100 – 53,200
• SL: 52,800 | TP1: 53,600 | TP2: 53,850
• R/R: 1:2.0
• Reason: Blue-chip earnings resilience maintaining higher-high structure.
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OVERALL MARKET OUTLOOK
Global market direction remains decisively constructive for precious metals and energy commodities, propelled by geopolitical safe-haven bids and cartel supply compliance. Equity index futures continue their steady upward march driven by corporate earnings strength. In foreign exchange, broad U.S. Dollar softness is providing solid tailwinds for European currencies, while JPY remains supported by intervention vigilance. PMEX clients should respect daily pivot support zones and maintain strict risk management.
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CONTACT & CORPORATE INFORMATION
RAYAAN COMMODITIES (ARIF HABIB GROUP)
Ranked # 1 — Pakistan’s Largest Client Base In PMEX Commodities, Forex & Equities
60-64, Pakistan Stock Exchange Building, Stock Exchange Road, Karachi.74000
Commodities Help Desk: (92-21) 32461104 - 2512 - 0734 - 2598
Email: [email protected] | Website: www.rayaancommodities.com
This report is for informational purposes only and should not be considered financial or investment advice.

25/08/2026

RAYAAN COMMODITIES
Top Broker of Pakistan Mercantile Exchange

ROBUST COMMODITIES, FOREIGN EXCHANGE & EQUITY INDICES OUTLOOK
24 August 2026 | Latest available web-market snapshot
Primary market data: ⁠

Note: futures quotes may be delayed/derived. Technical ratings can change intraday. S/R levels below combine current ranges, Investing.com pivots where available, and nearby market structure.

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PRECIOUS & INDUSTRIAL METALS
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1. GOLD (GC – Dec 26)
Price: $4,693.71/oz | +0.28% ⁠
Earlier session range: roughly $4,652–$4,736. ⁠
Signal: BUY

Technicals: Momentum remains bullish near multi-month highs. S1 $4,650 | S2 $4,600 | R1 $4,735 | R2 $4,800. Holding above $4,650 keeps the breakout structure intact; loss of $4,600 would materially weaken it.

Fundamentals: Bullion is being supported by U.S. fiscal/debt concerns and lower long-dated Treasury yields. Gold moved around the $4,650 area earlier Monday and remained near three-month highs. ⁠

Bias: BUY ON DIPS | Bullish above $4,650

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2. SILVER (SI – Sep 26)
Price: $68.458/oz | -1.54% ⁠
Signal: HOLD / BUY ON CONFIRMED RECOVERY

Technicals: Sharp correction despite gold strength. S1 $68.00 | S2 $67.00 | R1 $69.50 | R2 $70.00. Momentum turns stronger again above $69.50.

Fundamentals: Structural solar, electronics and electrification demand remains constructive, but silver’s higher beta makes it vulnerable to profit-taking when precious metals become extended.

Bias: NEUTRAL-BULLISH | Buy above $69.50

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3. COPPER (HG – Sep 26)
Price: $6.5945/lb | +0.11% ⁠
Signal: BUY/HOLD

Technicals: S1 $6.54 | S2 $6.48 | R1 $6.63 | R2 $6.70. Copper remains constructive while holding the $6.50 region.

Fundamentals: Electrification, power-grid expansion and AI/data-centre infrastructure provide structural demand support. China/global manufacturing remain the main cyclical risks.

Bias: BUY DIPS above $6.50

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4. PLATINUM (PL – Oct 26)
Available price: around $1,898/oz; session range roughly $1,872–$1,917. ⁠
Signal: BUY

Technicals: S1 $1,872 | S2 $1,840 | R1 $1,917 | R2 $1,950.

Fundamentals: Constrained South African supply, autocatalyst demand and substitution for palladium remain supportive.

Bias: BUY DIPS above $1,870

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5. PALLADIUM (PA – Sep 26)
Available price: around $1,358/oz | +0.6%; range about $1,338–$1,364. ⁠
Signal: BUY/HOLD

Technicals: S1 $1,338 | S2 $1,315 | R1 $1,364 | R2 $1,400. Friday’s close was $1,350.20. ⁠

Fundamentals: Concentrated Russian/South African supply supports prices, while platinum substitution and EV adoption remain longer-term demand headwinds.

Bias: BUY above $1,364 | HOLD otherwise

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ENERGY
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6. CRUDE OIL WTI (CL – Oct 26)
Latest available: about $84.78/bbl | -2.62% ⁠
Signal: SELL / SELL RALLIES

Technicals: S1 $84.00 | S2 $82.50 | R1 $86.00 | R2 $87.50. Momentum has turned corrective after the recent geopolitical rally.

Fundamentals: Oil fell as Iran allowed some Iraqi tankers through Hormuz, easing immediate supply fears. However, traffic remains below pre-war levels and tougher U.S. sanctions against Iran preserve significant upside headline risk. ⁠

Bias: SELL below $86 | High geopolitical risk

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7. NATURAL GAS (NG – Oct 26)
Latest available: $2.819/MMBtu | +0.28% ⁠
Signal: BUY/HOLD

Technicals: S1 $2.76 | S2 $2.70 | R1 $2.89 | R2 $3.00.

Fundamentals: LNG exports and weather-driven cooling demand support gas, while strong U.S. production/storage remain limiting factors.

Bias: BUY above $2.89 | HOLD below breakout

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AGRICULTURAL COMMODITIES
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8. US CORN (ZC)
Price: 521.63 cents/bu | +2.58%
Range: 512.60–524.13 ⁠
Signal: STRONG BUY

Technicals: S1 512.5 | S2 508 | R1 524.25 | R2 530. Strong upward momentum after Friday’s 508.50 close.

Fundamentals: Strong new-crop export demand and tightening expectations are supportive, while U.S. crop/yield developments remain the key supply variable. ⁠

Bias: BUY DIPS above 512

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9. US SOYBEANS (ZS – Nov 26)
Latest available: approximately 1,224–1,234 cents/bu, lower on the session. Investing.com’s historical feed showed 1,233.63, -0.47% during Monday trading. ⁠
Signal: HOLD / SELL BELOW SUPPORT

Technicals: S1 1,230 | S2 1,220 | R1 1,240 | R2 1,250.

Fundamentals: Chinese demand and U.S. export sales remain supportive, but crop expectations and South American competition limit upside.

Bias: HOLD | SELL below 1,230

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10. US WHEAT (ZW)
Available Monday range: approximately 692.38–705.00 cents/bu. ⁠
Signal: BUY

Technicals: S1 692 | S2 680 | R1 705 | R2 711. Break above 705 would put the recent 711.25 high back in focus.

Fundamentals: Black Sea supply/shipping risk and weather uncertainty support wheat, while global export competition remains the main resistance to sustained rallies.

Bias: BUY DIPS above 692

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11. US COTTON #2 (CT – Dec 26)
Price: 87.68 cents/lb | -0.76%
Range: 87.30–88.38 ⁠
Signal: HOLD / BUY DIPS

Technicals: S1 87.30 | S2 86.50 | R1 88.40 | R2 89.45.

Fundamentals: Weather, U.S. crop quality, Chinese textile demand and consumer spending remain key. Cotton has risen substantially from late-July levels despite Monday’s pullback. ⁠

Bias: HOLD above 87.30 | BUY above 88.40

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GLOBAL EQUITY INDEX FUTURES
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12. DOW JONES FUTURES (YMU26)
Market reference: Dow/US 30 around 53,400 Monday. ⁠
Signal: HOLD / BUY DIPS

Technicals: Dow is outperforming technology-heavy indices as financials provide support.

Fundamentals: Financial shares gained while technology weakened. Higher Treasury yields and Iran-related uncertainty remain headwinds. ⁠

Bias: NEUTRAL-BULLISH

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13. NASDAQ 100 FUTURES (NQU26)
Price: 29,192.50 | -0.66% at the captured Investing.com reading. ⁠
Investing.com Technical: STRONG SELL

RSI(14): 37.64 – Sell
MACD: -56.9 – Sell
Moving averages: 12 Sell / 0 Buy
Pivot: 29,164.5
S1/S2: 29,117 / 29,088
R1/R2: 29,194 / 29,241 ⁠

Fundamentals: Semiconductor weakness is pressuring tech ahead of Nvidia earnings; Nvidia itself was down roughly 2% Monday. ⁠

Bias: SELL RALLIES below 29,241

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14. S&P 500 FUTURES (ESU26)
Market area: approximately 7,680
Daily Technical: NEUTRAL; intraday: STRONG SELL ⁠

RSI(14): 44.06 – Sell
MACD: -3.82 – Sell
Pivot: 7,680.83
S1/S2: 7,677.41 / 7,674.58
R1/R2: 7,683.66 / 7,687.08 ⁠

Fundamentals: Technology weakness, Iran sanctions, high bond yields, Nvidia earnings and this week’s inflation data are dominating sentiment. ⁠

Bias: SHORT-TERM SELL / MEDIUM-TERM HOLD

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MAJOR FOREX PAIRS
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15. EUR/USD — 1.1670
Range: 1.1660–1.1688. ⁠
Signal: BUY/HOLD
S: 1.1660 / 1.1620 | R: 1.1688 / 1.1720
Fiscal/debt concerns have recently weakened USD, although Monday brought a modest dollar rebound. ⁠

16. GBP/USD — 1.3643
Range: 1.3622–1.3656. ⁠
Signal: BUY/HOLD
S: 1.3620 / 1.3580 | R: 1.3656 / 1.3700

17. USD/JPY — 158.98
Range: 158.59–159.28. ⁠
Signal: SELL RALLIES
S: 158.60 / 158.00 | R: 159.30 / 160.00
Lower long-term U.S. yields and intervention risk argue against chasing USD/JPY higher.

18. USD/CHF — 0.8023
Range: 0.7997–0.8028. ⁠
Signal: HOLD
S: 0.7997 / 0.7970 | R: 0.8028 / 0.8050

19. USD/CAD — 1.3836 | +0.51%
Range: 1.3783–1.3851. ⁠
Signal: BUY
S: 1.3783 / 1.3750 | R: 1.3851 / 1.3900
Canada’s dollar was hit by new 50% U.S. tariffs on Canadian goods, while weaker oil added pressure. ⁠

20. AUD/USD — around 0.716
Investing.com Technical: SELL
RSI: 49.24 Neutral | MACD Buy | Indicators Strong Sell | MAs Neutral. ⁠
Signal: SELL RALLIES / HOLD long-term trend
S: 0.714 / 0.710 | R: 0.717 / 0.720

21. EUR/GBP — around 0.856
Signal: HOLD
S: 0.853 | 0.850 | R: 0.858 | 0.860
Relative ECB/BOE expectations favour range trading until a breakout develops.

22. EUR/JPY — 185.54
Range: 185.22–185.80. ⁠
Signal: HOLD / SELL RALLIES
S: 185.20 / 184.50 | R: 185.80 / 186.50

23. GBP/JPY — approximately 216.9
Signal: HOLD / SELL RALLIES
S: 216.0 / 215.0 | R: 217.5 / 218.5
High-yield GBP supports the cross, but JPY intervention risk remains important.

24. AUD/JPY — approximately 113.8
Signal: HOLD / SELL RALLIES
S: 113.0 / 112.5 | R: 114.5 / 115.0

25. EUR/CHF — approximately 0.937
Signal: HOLD
S: 0.934 / 0.930 | R: 0.940 / 0.945
Geopolitical escalation would generally favour safe-haven CHF.

26. JPY/GBP — approximately 0.00461
(inverse GBP/JPY; indicative)
Signal: BUY ON DIPS
S: 0.00458 / 0.00455 | R: 0.00463 / 0.00465

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24 AUGUST MARKET SUMMARY
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Bullish / Buy Bias: Gold, Copper, Platinum, Corn, Wheat, USD/CAD.

Bearish / Sell-on-Rally Bias: WTI below $86, Nasdaq 100, short-term S&P 500, USD/JPY.

Neutral / Wait for Breakout: Palladium, Natural Gas, Soybeans, Cotton, EUR/GBP, EUR/CHF.

Key risk events: Nvidia earnings, U.S. PCE inflation, consumer confidence, revised U.S. Q2 GDP, Friday’s Jackson Hole speech by Fed Chair Kevin Warsh, U.S.-Iran sanctions, Treasury yields and Hormuz developments. ⁠

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Disclaimer: This outlook is general market research, not personalised investment advice or a guarantee of performance. Futures and leveraged FX carry substantial risk. Some Investing.com futures quotations are delayed or derived rather than executable PMEX prices; verify the current PMEX contract and quote before trading.

25/08/2026

24/08/2026

Research report

22/08/2026

RAYAAN COMMODITIES (ARIF HABIB GROUP)
TOP BROKER OF THE PAKISTAN MERCANTILE EXCHANGE
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GLOBAL MARKETS, COMMODITIES & FOREX DAILY REPORT
Date: August 22, 2026 | Issuance: 05:30 UTC
Prepared for: PMEX & Institutional Clients
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GLOBAL MARKET SUMMARY
• US Dollar Index (DXY): 99.40 (-0.25%) | Softened after recent US Treasury liquidity interventions and yield pullbacks.
• 10Y US Treasury Yield: 4.48% | 2Y Yield consolidating at 4.22% following market liquidity operations.
• Federal Reserve: Markets pricing sustained steady policy rates following moderating inflation expectations.
• OPEC+ Announcements: Ongoing voluntary production curbs maintain a constructive structural floor for crude benchmarks.
• Risk Sentiment: Bullish across blue-chip equity indices with broad rotation into energy and precious safe-haven assets.
• Commodity Overview: Gold and Silver rally strongly to fresh record levels, while WTI Crude consolidates above $84.50.
• Forex Overview: The Greenback traded broadly lower against EUR, GBP, and JPY heading into the weekend.
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DETAILED INSTRUMENT ANALYSIS
1. PRECIOUS & INDUSTRIAL METALS
Gold (GC)
• Price: $4,621.04/oz | Daily: +$49.64 (+1.09%) | 5H: +0.35%
• Range: High $4,625.00 | Low $4,565.51
• Pivots: PP: $4,603.85 | R1: $4,642.19 | R2: $4,663.34 | S1: $4,582.70 | S2: $4,544.36
• Commentary: Gold rallied past $4,620/oz to establish fresh historic highs driven by a softer U.S. Dollar and strong sovereign accumulation. A solid close above previous resistance at $4,580 has reinforced technical buying. Momentum is Strong Bullish.
• Bias: Buy | Confidence: High
Silver (SI)
• Price: $58.85/oz | Daily: +$0.95 (+1.64%) | 5H: +0.40%
• Range: High $59.20 | Low $57.80
• Pivots: PP: $58.62 | R1: $59.43 | R2: $60.02 | S1: $58.03 | S2: $57.22
• Commentary: Silver broke through intermediate resistance near $58.50, tracking Gold's historic rally while supported by robust photovoltaic and industrial demand. The bias remains firmly focused on testing $60.00. Momentum is Bullish.
• Bias: Buy | Confidence: High
Copper (HG)
• Price: $6.32/lb | Daily: +$0.06 (+0.96%) | 5H: +0.20%
• Range: High $6.36 | Low $6.25
• Pivots: PP: $6.31 | R1: $6.37 | R2: $6.42 | S1: $6.26 | S2: $6.20
• Commentary: Copper prices rebounded above $6.30 as supply constraints and stabilized Asian factory sentiment supported base metals. Immediate resistance is pegged at $6.37. Momentum is Bullish.
• Bias: Buy | Confidence: Medium
Platinum (PL)
• Price: $1,618.50/oz | Daily: +$14.20 (+0.89%) | 5H: +0.25%
• Range: High $1,626.00 | Low $1,602.00
• Pivots: PP: $1,615.50 | R1: $1,629.00 | R2: $1,639.50 | S1: $1,605.00 | S2: $1,591.50
• Commentary: Platinum recovered above $1,615 following short covering across precious metals. Sustaining above the $1,605 support keeps the recovery intact. Momentum is Neutral-to-Bullish.
• Bias: Buy | Confidence: Medium
Palladium (PA)
• Price: $1,268.00/oz | Daily: +$8.50 (+0.67%) | 5H: +0.15%
• Range: High $1,276.00 | Low $1,255.00
• Pivots: PP: $1,266.33 | R1: $1,277.67 | R2: $1,287.33 | S1: $1,256.67 | S2: $1,245.33
• Commentary: Palladium trades in a narrow consolidation band near $1,268. Resistance at $1,278 caps immediate upside potential. Momentum is Neutral.
• Bias: Neutral | Confidence: Medium
2. ENERGY
Crude Oil WTI (CL)
• Price: $84.99/bbl | Daily: +$1.76 (+2.11%) | 5H: +0.30%
• Range: High $85.80 | Low $83.23
• Pivots: PP: $84.67 | R1: $86.12 | R2: $87.24 | S1: $83.55 | S2: $82.10
• Commentary: WTI Crude pushed toward $85.00/bbl due to tight physical prompt supplies and Middle East geopolitical risk premiums. Technical indicators remain constructive above the $84.67 pivot. Momentum is Bullish.
• Bias: Buy | Confidence: High
Natural Gas (NG)
• Price: $2.72/MMBtu | Daily: +$0.04 (+1.49%) | 5H: +0.20%
• Range: High $2.75 | Low $2.67
• Pivots: PP: $2.71 | R1: $2.76 | R2: $2.79 | S1: $2.68 | S2: $2.63
• Commentary: Natural Gas edged higher toward $2.72 on late-summer power generation demand. Key overhead resistance sits at $2.76. Momentum is Neutral-to-Bullish.
• Bias: Buy | Confidence: Medium
3. AGRICULTURAL COMMODITIES
US Corn (ZC)
• Price: 464.25c/bu | Daily: +2.50 (+0.54%) | 5H: +0.15%
• Range: High 466.50 | Low 460.00
• Pivots: PP: 463.58 | R1: 467.17 | R2: 470.08 | S1: 460.67 | S2: 457.08
• Commentary: Corn futures consolidated gains above 464.00, supported by solid weekly export inspections. Bias remains constructive above 460.00. Momentum is Bullish.
• Bias: Buy | Confidence: Medium
US Soybeans (ZS)
• Price: 1,212.00c/bu | Daily: +6.25 (+0.52%) | 5H: +0.18%
• Range: High 1,216.50 | Low 1,202.00
• Pivots: PP: 1,210.17 | R1: 1,218.33 | R2: 1,224.67 | S1: 1,203.83 | S2: 1,195.67
• Commentary: Soybeans reclaimed the 1,210.00 level on technical buying and global crush demand resilience. Immediate resistance rests at 1,218.00. Momentum is Bullish.
• Bias: Buy | Confidence: Medium
US Wheat (ZW)
• Price: 682.50c/bu | Daily: +5.50 (+0.81%) | 5H: +0.25%
• Range: High 686.00 | Low 675.00
• Pivots: PP: 681.17 | R1: 687.33 | R2: 692.17 | S1: 676.33 | S2: 670.17
• Commentary: Wheat extended its rally toward 682.50 on Black Sea shipment delays and weather-driven harvest revisions. Momentum is Bullish.
• Bias: Buy | Confidence: High
US Cotton #2 (CT)
• Price: 80.65c/lb | Daily: +0.45 (+0.56%) | 5H: +0.10%
• Range: High 81.10 | Low 79.90
• Pivots: PP: 80.55 | R1: 81.20 | R2: 81.75 | S1: 80.00 | S2: 79.35
• Commentary: Cotton stabilized above the 80.00 psychological mark. Resistance at 81.20 limits immediate breakout attempts. Momentum is Neutral.
• Bias: Neutral | Confidence: Medium
4. GLOBAL EQUITY INDEX FUTURES
Dow Jones Futures (YMU26)
• Price: 53,353 | Daily: +504 (+0.95%) | 5H: +0.28%
• Range: High 53,418 | Low 52,838
• Pivots: PP: 53,203 | R1: 53,568 | R2: 53,783 | S1: 52,988 | S2: 52,623
• Commentary: Dow futures surged past 53,300, propelled by blue-chip corporate earnings strength and stabilizing energy markets. The index maintains a bullish structural posture with dips well supported above 53,000. Momentum is Bullish.
• Bias: Buy | Confidence: High
Nasdaq 100 Futures (NQU26)
• Price: 29,387.75 | Daily: +87.25 (+0.30%) | 5H: +0.15%
• Range: High 29,480.00 | Low 29,220.00
• Pivots: PP: 29,362.58 | R1: 29,505.17 | R2: 29,622.58 | S1: 29,245.17 | S2: 29,102.58
• Commentary: Tech futures stabilized following broad consolidation, holding above key moving averages near 29,300. Upside targets sit at 29,500. Momentum is Neutral-to-Bullish.
• Bias: Buy | Confidence: Medium
S&P 500 Futures (ESU26)
• Price: 7,691.25 | Daily: +28.75 (+0.38%) | 5H: +0.12%
• Range: High 7,710.50 | Low 7,655.00
• Pivots: PP: 7,685.58 | R1: 7,716.17 | R2: 7,741.08 | S1: 7,660.67 | S2: 7,630.08
• Commentary: S&P 500 futures settled firmly near 7,691, supported by solid equity breadth across industrial and financial sectors. Trend continuation remains favored above 7,660. Momentum is Bullish.
• Bias: Buy | Confidence: High
5. MAJOR FOREX PAIRS
EUR/USD: 1.1687 (+0.85%) | 5H: +0.10%
• PP: 1.1665 | R1: 1.1715 | R2: 1.1748 | S1: 1.1632 | S2: 1.1582
• Commentary: EUR/USD climbed toward 1.1690 as Dollar weakness widened following US yield adjustments. Bias: Buy (High Conf.)
GBP/USD: 1.3440 (+0.70%) | 5H: +0.08%
• PP: 1.3418 | R1: 1.3475 | R2: 1.3512 | S1: 1.3381 | S2: 1.3324
• Commentary: Sterling rallied to multi-month highs near 1.3440 on persistent UK rate support and Greenback selling. Bias: Buy (High Conf.)
USD/JPY: 156.40 (-0.68%) | 5H: -0.15%
• PP: 156.85 | R1: 157.65 | R2: 158.50 | S1: 156.05 | S2: 155.25
• Commentary: USD/JPY retreated toward 156.40 as lower Treasury yields drove Yen short-covering. Bias: Sell (Med Conf.)
USD/CHF: 0.8090 (-0.45%) | 5H: -0.10%
• PP: 0.8112 | R1: 0.8145 | R2: 0.8180 | S1: 0.8077 | S2: 0.8044
• Commentary: Swiss Franc extended gains beneath 0.8100 amid safe-haven positioning. Bias: Sell (Med Conf.)
USD/CAD: 1.4025 (-0.35%) | 5H: -0.08%
• PP: 1.4048 | R1: 1.4082 | R2: 1.4120 | S1: 1.4010 | S2: 1.3976
• Commentary: The Loonie strengthened as Crude Oil rallied toward $85.00. S1 at 1.4010 is being tested. Bias: Sell (Med Conf.)
AUD/USD: 0.6985 (+0.40%) | 5H: +0.12%
• PP: 0.6968 | R1: 0.7012 | R2: 0.7045 | S1: 0.6938 | S2: 0.6894
• Commentary: AUD/USD advanced toward 0.7000 resistance on broad USD softening. Bias: Buy (Med Conf.)
EUR/GBP: 0.8695 (+0.15%) | 5H: +0.02%
• PP: 0.8688 | R1: 0.8718 | R2: 0.8742 | S1: 0.8664 | S2: 0.8634
• Commentary: EUR/GBP trades range-bound near 0.8695 with balanced ECB-BoE expectations. Bias: Neutral (High Conf.)
EUR/JPY: 182.78 (+0.18%) | 5H: -0.05%
• PP: 182.85 | R1: 183.60 | R2: 184.30 | S1: 182.10 | S2: 181.35
• Commentary: Euro strength balanced against Yen recovery, holding price near 182.80. Bias: Neutral (Med Conf.)
GBP/JPY: 210.20 (-0.12%) | 5H: -0.08%
• PP: 210.65 | R1: 211.55 | R2: 212.40 | S1: 209.75 | S2: 208.85
• Commentary: GBP/JPY trades near 210.20 in healthy technical consolidation. Bias: Buy (Med Conf.)
AUD/JPY: 109.28 (-0.28%) | 5H: -0.04%
• PP: 109.52 | R1: 110.15 | R2: 110.70 | S1: 108.92 | S2: 108.29
• Commentary: Cross under mild pressure below 109.50 pivot due to Yen demand. Bias: Sell (Med Conf.)
EUR/CHF: 0.9455 (+0.38%) | 5H: +0.05%
• PP: 0.9442 | R1: 0.9488 | R2: 0.9520 | S1: 0.9410 | S2: 0.9364
• Commentary: EUR/CHF holds gains above 0.9440 supported by Euro flows. Bias: Buy (Med Conf.)
JPY/GBP: 0.004757 (+0.12%) | 5H: +0.08%
• PP: 0.004747 | R1: 0.004768 | R2: 0.004788 | S1: 0.004727 | S2: 0.004706
• Commentary: JPY/GBP consolidates gains as Yen recovery stabilizes. Bias: Neutral (Low Conf.)
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TOP 5 TRADING OPPORTUNITIES
* Gold (GC) — BUY
• Entry: $4,600.00 – $4,615.00
• SL: $4,560.00 | TP1: $4,650.00 | TP2: $4,680.00
• R/R: 1:2.1
• Reason: Historic technical breakout supported by safe-haven flows and softer US Dollar.
* Crude Oil WTI (CL) — BUY
• Entry: $84.20 – $84.80
• SL: $83.10 | TP1: $86.50 | TP2: $87.80
• R/R: 1:2.2
• Reason: Physical supply tightness and OPEC+ discipline driving bullish continuation toward $87.
* Dow Jones Futures (YMU26) — BUY
• Entry: 53,150 – 53,300
• SL: 52,800 | TP1: 53,800 | TP2: 54,200
• R/R: 1:2.0
• Reason: Blue-chip earnings leadership maintaining solid higher-low structure above 53,000.
* EUR/USD — BUY
• Entry: 1.1640 – 1.1670
• SL: 1.1590 | TP1: 1.1740 | TP2: 1.1800
• R/R: 1:2.1
• Reason: Clean technical breakout on broad Dollar softness and Treasury yield pullback.
* USD/CAD — SELL
• Entry: 1.4030 – 1.4060
• SL: 1.4100 | TP1: 1.3950 | TP2: 1.3880
• R/R: 1:2.0
• Reason: Canadian Dollar outperformance driven by Crude Oil strength above $84.50/bbl.
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OVERALL MARKET OUTLOOK
Global market direction is characterized by strong upward momentum in precious metals and energy commodities, with Gold reaching record territories alongside firm WTI Crude. Equity index futures show steady leadership in industrial and blue-chip sectors. In foreign exchange, the US Dollar is under broad pressure against European majors and commodity currencies. PMEX traders should position for continued trend-following setups while strictly adhering to pivot support zones.
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CONTACT & CORPORATE INFORMATION
RAYAAN COMMODITIES (ARIF HABIB GROUP)
Ranked # 1 — Pakistan’s Largest Client Base In PMEX Commodities, Forex & Equities
60-64, Pakistan Stock Exchange Building, Stock Exchange Road, Karachi.74000
Commodities Help Desk: (92-21) 32461104 - 2512 - 0734 - 2598
Email: [email protected] | Website: www.rayaancommodities.com
This report is for informational purposes only and should not be considered financial or investment advice.