By Chintan Karnani | GoldSeek | 27 August 2026

Focus Points for the Rest of the Year

For the remainder of the year, Chintan Karnani says he will concentrate on:

• Geopolitics — both Iran and Ukraine.
• The trend of energy prices.
• US Core PCE inflation numbers, released every month.
• The monthly unemployment rate, rather than the headline nonfarm payroll number.
• The gap between US two-year and ten-year bond yields. He is deliberately ignoring the US thirty-year bond yield, on which traders are hyper-focused.
• Key short-term and medium-term support levels, as he is bullish on precious and non-ferrous metals for the rest of the year.

The pace of any rise will be difficult to predict, he notes, adding that he prefers to avoid guesswork.

Geopolitics and US Politics

A military transport plane landed in Russia for a few hours this week. Considerable speculation has circulated on social media, most of it negative for global peace, he writes.

Karnani also contends that President Donald Trump will not let a crash happen in US stock markets until the US Senate elections are over.

Crypto, AI and Betting Firms Funding the 2026 Midterms

Citing a Reuters report, the update highlights that crypto companies, artificial intelligence firms and online betting have emerged as the biggest industries shaping the 2026 midterm races, driving a record amount of business spending on congressional contests, according to campaign finance watchdogs and interviews with more than a dozen political strategists from both parties.

Together, crypto, tech and online gaming industry donations accounted for at least $294 million of the corporate spending on midterm races from January 1, 2025 through the first quarter, Public Citizen found.

In an approach pioneered by the crypto industry in the last election cycle, these industries have structured their campaign giving through a vast network of so-called super PACs, affiliate PACs — which receive their money from the super PACs — and dark money nonprofits, which do not have to disclose their donors. Companies and founders often donate across those networks as well as directly to specific candidates.

Executives running those companies have directly spent millions more, such as the more than $90 million SpaceX founder Elon Musk has already put toward the 2026 federal elections, with plans to spend far more by November. Google co-founder Sergey Brin also spent over $106 million in California fighting a proposed wealth tax among other state issues, federal and state filings show. Brin and Musk did not return requests for comment.

Full Reuters report:

The Author's View

Karnani offers his own reading of the trend: global trading and global investing will get a new makeover after the US Senate elections. In his view, cryptocurrencies will eventually replace the US dollar for global trade, and instant betting will become the way for short-term trades. "I will not be surprised if BTC/USD rises over $3,00,000 before the end of Trump's second term," he writes.

The net result, he argues, will be that the masses are controlled by a few American companies, irrespective of which of the two political parties controls the US Senate. He describes cryptocurrencies as a computer code started and controlled by a large global corporation — similar, he says, to Roblox money used by gamers.

Calendar Watch

The UK market is closed on Monday, and some very sharp two-way price moves are expected over the next eight days. Jackson Hole, which begins tomorrow, and the weekend will be relevant only if inflation targeting gets serious with the Federal Reserve chief, according to the report.

Spot Silver — Technical Levels

• Current market price: $68.84
• 100-day simple moving average: $66.80
• 200-day simple moving average: $74.29
• Key intraday resistance: $66.80-$67.20 zone
• Key intraday support: 70.73 and $72.70

View Until 4th September

Spot silver has to trade over $66.80-$67.20 today, tomorrow and next week in order to rise to $72.70, $77.41 and more, Karnani writes.

The 100-day simple moving average sits near the lower end of that zone, making it a level the report treats as important for short-term trading rather than as a long-term forecast. With the 200-day simple moving average still higher at $74.29, traders are watching whether silver can sustain its recent strength through the next few sessions, especially with Jackson Hole and other macro headlines potentially affecting risk appetite.

A crash or sell-off is expected if (i) spot silver does not break $7,271 by the 4th September close, or (ii) spot silver trades below $67.20 for two consecutive trading sessions.

All views are intraday unless otherwise specified.

Guidance for Lower-Risk Traders

Low-risk traders and low-risk takers trading silver — spot, futures and ETFs — should preferably be intraday traders until 19th September, the report advises. A systematic investment plan (SIP), or monthly SIP in physical metal or ETFs, is described as the best way to invest in silver for low-risk takers.

Derivative trading in silver is not for low-risk takers, the author cautions, urging anyone who intends to trade silver derivatives or silver futures on any commodity exchange in the world to first assess their own risk profile.

Disclaimer

The investment ideas provided are purely independent viewpoints and are solely for collective learning and academic interests. No commercial benefit accrues, or is deemed to accrue, to the author from providing such ideas. The investment ideas shared here cannot be construed as investment advice. Readers acting on this content are asked to apply their own prudence and consult their financial advisor before acting on any of the recommendations made. The author is not responsible to anybody in the event of profits or losses upon acting on such advice, and expects readers to be well aware of the risks involved in commodity derivative trading.

Disclosure: The author trades on India's MCX commodity exchange and has open positions in India's MCX commodity futures. He does not trade in CME futures or OTC spot gold and spot silver.

Report Notes

• All views are intraday unless otherwise specified.
• Follow the author on X (Twitter): @chintankarnani
• "Holds" means holds on a daily closing basis.
• Please use appropriate stop losses on intraday trades to limit losses.
• The time given in the report is the time of completion of the report.
• All prices/quotes in this report are in US dollars unless otherwise specified.
• All news is taken from Reuters newswires.
• Technical analysis is done from TradingView software.

Source: GoldSeek — https://goldseek.com/article/asian-metals-market-update-27th-august-2026