BhaavBrief — India's Daily Commodity Intelligence

India's Commodity Intelligence Platform for MCX Traders

Daily market briefs and an event calendar for MCX crude oil, natural gas, gold, silver, and base metals — published every trading day at 9:30 AM IST, before the session finds direction.

Read Today's Brief (free)See What Moves Each Commodity

Market Pulse

MCX Composite iVIX

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BhaavBrief's composite read on options-market volatility across MCX's core commodities

What markets actually did

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Our estimate of how much these commodities have really moved, over the last 20 trading days

USD/INR

95.07

-0.09% — a stronger rupee dampens MCX gains from global commodity price moves today.

Commodity Terminal

All 10 MCX markets →

GOLDGold

₹1,48,000

▲ +0.35% · /10g

iVIX—

20D avg—

Vol prem.—

PCR—

Max pain—

OI vs low—

N/A

Price →Options →

SILVERSilver

₹2,11,418

▲ +0.36% · /kg

iVIX—

20D avg—

Vol prem.—

PCR—

Max pain—

OI vs low—

N/A

Price →Options →

CRUDEOILCrude Oil

₹9,572

▲ +3.09% · /bbl

iVIX—

20D avg—

Vol prem.—

PCR—

Max pain—

OI vs low—

N/A

Price →Options →

NATURALGASNatural Gas

₹298.50

▼ -0.03% · /mmBtu

iVIX—

20D avg—

Vol prem.—

PCR—

Max pain—

OI vs low—

N/A

Price →Options →

COPPERCopper

₹1,402

▲ +0.25% · /kg

iVIX—

20D avg—

Vol prem.—

PCR—

Max pain—

OI vs low—

N/A

Price →Options →

Volatility & Correlation

iVIX Term Structure

Implied volatility by expiry bucket, across the 5 core MCX chains

🔴 LiveiVIX Term Structure — implied volatility by expiry bucketUnlock with Pro →₹33/day · Cancel anytime

Cross-Asset Correlation

5 MCX commodities × USDINR

What is Gold moving with?

SilverClosely moves opposite · -0.86
CopperClosely moves together · 0.78
CrudeSomewhat moves opposite · -0.47
USDINRSomewhat moves opposite · -0.45
Nat GasLittle connection · 0.11

Describes how these markets have moved together; it doesn’t establish cause or predict the next move.

	Gold	Silver	Crude	Copper	Nat Gas	USDINR
Gold	1.00	-0.86	-0.47	0.78	0.11	-0.45
Silver	-0.86	1.00	-0.12	0.74	0.79	-0.18
Crude	-0.47	-0.12	1.00	0.20	0.21	0.16
Copper	0.78	0.74	0.20	1.00	0.42	-0.21
Nat Gas	0.11	0.79	0.21	0.42	1.00	-0.64
USDINR	-0.45	-0.18	0.16	-0.21	-0.64	1.00

How closely these markets have been moving together (20-day window)

🔴 LiveCross-Asset Correlation — 20-day windowUnlock with Pro →₹33/day · Cancel anytime

Options Intelligence

Put-Call Ratio

How options positioning is leaning across puts and calls

Gold

—

N/A

Silver

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N/A

Crude Oil

—

N/A

Natural Gas

—

N/A

Copper

—

N/A

Max Pain Proximity

Where the options market may be pulling price toward by expiry

Instrument	Max Pain	Futures	Distance
Gold	—	—	—
Silver	—	—	—
Crude Oil	—	—	—
Natural Gas	—	—	—
Copper	—	—	—

Cross-Asset & Macro

Brent–WTI Spread

$10.65

+2.70 vs prior close

Global crude benchmark spread (15-min delayed)

Gold/Silver Ratio

73.3x

-0.1x vs prior close

Gold's value relative to silver, on global prices

Gold/Crude Ratio

42.3x

-0.3x vs prior close

How gold is pricing against crude oil globally

Brief & Calendar

Edition #128Friday, 16 October 2026

Gold Surges Past $4,194 as the War Trade Fully Reunites

COMEX gold jumped $86.9 overnight while crude holds near $95, signalling the war-premium trade is back in full force.

MCX GoldMCX SilverMCX CrudeGeopolitics

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#128

Previous EditionsView all 121 editions →

#127Gold Reclaims ₹147,355 as the War Trade Reunites #126Oil Surges Past $95 While Gold Slips — The War Trade Is Splitting #125Oil Retreats From Its Peak While Gold Holds the Line

For educational and informational purposes only. Not registered with SEBI or any regulatory authority. Nothing here constitutes investment advice or a solicitation to trade.