TODAY'S SESSION RECAP
MCX metals complex closed decisively higher, led by silver's +2.57% surge to ₹223,320/kg and gold's +1.50% advance to ₹142,419/10g. Copper followed with +1.29% to ₹1,313/kg. The broad advance reflects dollar weakness (USD/INR at ₹96.19) alongside a reflation bid in global markets. COMEX gold and silver both extended gains overnight at +1.49% and +2.42% respectively, signalling sustained bullion strength. Crude oil remained anchored, closing flat at ₹7,580/bbl despite WTI's +2.30% overnight jump, indicating local resistance. NatGas posted modest gains at +0.47%.
HOW MCX CLOSED VS THE DAY'S RANGE
Silver closed ₹223,320 — within ₹2,108 of today's high of ₹225,428, demonstrating bullish structure with the metal holding strength into the close rather than fading. Gold closed ₹142,419, also near-range highs, ₹775 below its intraday peak of ₹143,194. Both precious metals printed solid closes, avoiding intraday retracement into final 30 minutes — a constructive setup for overnight continuation.
WHAT COMEX IS DOING NOW
COMEX gold trades at 4056.40 $/oz (+1.49%) while silver trades 59.03 $/oz (+2.42%). WTI crude has extended sharply to 79.94 $/bbl (+2.30%), significantly outpacing MCX crude's flat close. US session momentum is confirming precious metals direction but diverging on energy — a mixed signal for tomorrow's MCX open.
OVERNIGHT WATCH LIST
Monitor silver's ₹225,428 resistance and ₹222,500 support for continuation signals. Gold's 20-day SMA at ₹144,308 sits above current levels — a potential target if dollar weakness persists. Crude's divergence (WTI +2.30% vs MCX flat) requires reconciliation at tomorrow's open.
Overnight watch: COMEX gold and silver momentum into US close; WTI crude's ₹80/bbl breakout sustainability.