TODAY'S SESSION RECAP
Natural Gas dominated MCX's Friday close, sliding 2.79% to ₹274.8/mmBtu on broad energy weakness tied to US summer inventory builds and softer global LNG demand signals. Silver followed closely, retreating 2.25% to ₹215665/kg as equities recovered, pulling safe-haven demand. Gold eased 1.16% to ₹140209/10g on a stable dollar backdrop (₹96.34), while Crude fell 0.20% to ₹7598/bbl—the complex's most resilient performer despite COMEX WTI weakness at -1.61%.
MCX CLOSED VS RANGE
NatGas closed near session lows at ₹274.8, just 0.8% above the low of ₹273—a clear fade from the ₹286.5 high, indicating intraday profit-taking and bearish structural close. Silver similarly retracted, finishing ₹215665 after touching ₹220133, suggesting sellers dominated the last two hours. Both commodities traded in the lower half of their ranges, signaling momentum-driven selling into the close.
COMEX NIGHT SESSION
COMEX is confirming MCX's weakness: Gold trading 3985.70 (-1.44%), Silver 55.87 (-2.18%), and WTI 78.32 (-1.61%) all continue downward pressure. Henry Hub Gas at 2.89 (-1.16%) mirrors NatGas's bearish tone. The US session's synchronized decline across precious metals and energy reinforces a bearish overnight carry into Saturday's MCX open.
OVERNIGHT WATCH LIST
Key levels: NatGas support at ₹273 (session low), resistance ₹281; Silver support ₹215090, resistance ₹220133.
Data to monitor: US crude inventory print (expected overnight), EIA storage reports for natural gas, Fed speakers on inflation trajectory. Weather forecasts for US production disruptions will dictate NatGas direction at open.
Overnight watch: US crude inventory release—if builds exceed expectations, energy complex pressures extend into Saturday MCX open.