Commodity Market Prediction for Tomorrow, 3 November 2026
- November 2, 2026
- Posted by: Ankit Jaiswal
- Category: Uncategorized
Nifty Commodities index at 9,325.65, up 4.01%. Four of six MCX contracts rose, while crude oil fell 4.71%. Nifty 50 rose 1.68%. India VIX rose 1.31% to 15.50. Next session is tomorrow, Tuesday 3 November.
Quick Answer
The commodity market prediction for tomorrow is mixed for tomorrow, 3 November 2026. The Nifty Commodities index rose 4.01 percent to 9,325.65 on Monday. On MCX, zinc rose 2.34 percent, silver rose 1.50 percent, natural gas rose 1.26 percent and copper rose 0.72 percent, while crude oil fell 4.71 percent and gold fell 0.14 percent.
This commodity market prediction for tomorrow follows a Monday, 2 November 2026 session in which the Nifty Commodities index rose 4.01 percent to 9,325.65, while on MCX zinc, silver, natural gas and copper rose and crude oil and gold fell.
Ankit Jaiswal, Senior Research Analyst at Univest, and Kunal Singla, Associate Director at Univest, are tracking commodity market and global cues ahead of the session tomorrow, which falls on Tuesday, 3 November 2026.
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What Monday Told Us
- The Nifty Commodities index closed at 9,325.65, up 4.01 percent on 2 November 2026.
- Zinc, silver, natural gas and copper rose on MCX, while crude oil and gold fell.
- The broader Nifty 50 rose 1.68 percent and India VIX rose 1.31 percent to 15.50.
Commodity Market Prediction for Tomorrow: Key Levels
The Nifty Commodities index traded between 9,054.10 and 9,327.65 on Monday, against a previous close of 8,966.45, and settled at 9,325.65. On the downside, 9,054.10 and 8,966.45 are the first reference levels to watch if the day’s move is tested. On the upside, 9,327.65 marks the nearest resistance. Univest’s analysts treat these as reference points drawn from Monday’s trading range, not as targets.
| Trend | Support | Resistance |
|---|---|---|
| Positive | 9,054.10, 8,966.45 | 9,327.65 |
The snapshot below shows the six MCX contracts we track, using Monday’s last traded prices. MCX trades into the evening, so prices can differ later. Gold Rs 138,295 (-0.14%), Silver Rs 181,820 (+1.50%), Crude Oil Rs 9,469 (-4.71%), Natural Gas Rs 280.60 (+1.26%), Copper Rs 1,383.55 (+0.72%), Zinc Rs 415.30 (+2.34%).
For traders, this commodity market prediction for tomorrow is a framework for planning risk, with position size and stop levels left to the individual.
Key Drivers for Tomorrow
- Zinc rose 2.34 percent on MCX, the largest gain among the six contracts we track.
- Crude oil fell 4.71 percent, the only large fall, while gold slipped 0.14 percent.
- The Nifty Commodities index rose 4.01 percent to 9,325.65 and closed within 2 points of its high, a broad gauge of commodity-linked equities.
Ankit Jaiswal and Kunal Singla suggest revisiting this commodity market prediction for tomorrow after the first thirty minutes of Tuesday’s trade.
Anyone following this commodity market prediction for tomorrow should keep the next session’s opening range in view before reading too much into early moves.
Nothing in this commodity market prediction for tomorrow is a promise of returns, and every level quoted can fail.
What to Watch Alongside Commodity Market
Reliance Industries and Oil and Natural Gas Corporation are the most direct large-cap links to crude and gas. Reliance rose 11.60 percent and ONGC rose 4.19 percent on Monday, even as crude fell 4.71 percent. Nifty Metal rose 3.21 percent.
How Monday’s Broader Session Unfolded
The Nifty 50 closed at 23,440.80, up 1.68 percent, with a high of 23,440.80 and a low of 23,207.05, so it finished at the best level of the day. The Sensex closed at 75,692.78, up 1.66 percent, and the Bank Nifty closed at 55,002.20, up 0.58 percent. India VIX, the market’s fear gauge, rose 1.31 percent to 15.50, after ranging between 14.55 and 15.92 during the session. The Nifty 50 closed about 1.3 percent above its close of 23,146.15 on 16 October. The Nifty Midcap 50 rose 1.24 percent and the Nifty Next 50 rose 1.85 percent, so the rise was broad. Nifty Metal rose 3.21 percent and Reliance Industries rose 11.60 percent, while Nifty IT fell 0.50 percent and Nifty Private Bank fell 0.14 percent. The trigger for the broad rise was not independently confirmed.
Univest’s analysts suggest treating this commodity market prediction for tomorrow as a preparation note for Tuesday, 3 November 2026, rather than a signal that changes overnight.
Analyst View for Tomorrow
Kunal Singla suggests that commodity equities rose 4.01 percent with the broader market, and four of six contracts rose, though crude’s sharp fall keeps the picture mixed.
Ankit Jaiswal flags that equities rose far more than most contracts, which is a gap that usually closes in one direction or the other.
This commodity market prediction for tomorrow will be most useful when read alongside the support and resistance table above.
Why This Is Written for Tomorrow
This commodity market prediction for tomorrow is written after the close on Monday, 2 November 2026, using Monday’s closing data, for the next trading session tomorrow, Tuesday, 3 November 2026. Treat it as a briefing to prepare for that session, not a live call that updates through the evening.
MCX futures trade into Monday night, so global moves late on Monday can shift Tuesday’s opening price.
A fair reading of this commodity market prediction for tomorrow is that Monday’s data sets the context, while Tuesday’s first hour decides how much of it carries forward.
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Risks to This Prediction
- A reversal in the US Dollar Index could change the tone for bullion and metals.
- Commodity equities jumped while crude fell, so the equity side may be vulnerable to a pullback.
- A further fall in crude would remove support from energy-linked stocks.
Readers comparing views should note that this commodity market prediction for tomorrow draws only on Monday’s closing numbers and the factors listed here.
As with any commodity market prediction for tomorrow, the opening minutes of Tuesday’s trade will confirm or challenge the levels discussed here.
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The commodity market prediction for tomorrow also depends on India VIX, so a fresh rise in volatility would weaken the case made here.
Conclusion
The commodity market prediction for tomorrow leans mixed into 3 November 2026, with global cues and the US Dollar Index as the key variables to track. Ankit Jaiswal and Kunal Singla will revisit this view once Tuesday’s opening trade confirms direction.
Disclaimer: Investments in securities are subject to market risk. Read all related documents carefully before investing. The information provided here is for educational purposes only and does not constitute investment advice. Univest is a SEBI-registered investment adviser (Registration No. INH000013776). Past performance is not indicative of future returns.
Frequently Asked Questions
What is the commodity market prediction for tomorrow?
Ans. It is mixed for 3 November 2026, with commodity equities sharply higher and four of six MCX contracts up, but crude oil sharply lower after Monday’s session.
Why is this a prediction for tomorrow, 3 November 2026?
Ans. Because it is written after the close on Monday, 2 November 2026, for the next regular trading session on Tuesday, 3 November 2026.
What drove the commodity market on Monday?
Ans. Four of six MCX contracts rose, and commodity equities surged with the broader market. The specific triggers were not independently confirmed.
Which commodities are strongest going into tomorrow?
Ans. Zinc was the strongest on Monday, based on MCX futures, while crude oil was the weakest by a wide margin.
Is this a buy or sell call?
Ans. No. This is an educational outlook from Univest’s research team, not a buy or sell call. Traders should check any view against their own risk plan before acting.
