TODAY'S SESSION RECAP
Natural Gas led the sell-off, closing at ₹262.3/mmBtu, down 3.14% from the previous close. Silver reversed weakness to post the session's strongest gain, closing at ₹243350/kg, up 2.77%. Crude Oil followed with a +1.73% close at ₹8292/bbl, while Gold added 0.97% to ₹159527/10g. NatGas weakness reflected softer US summer demand forecasts and elevated global LNG supply expectations. Precious metals benefited from broader USD weakness (INR at ₹95.70) and safe-haven flows as COMEX Gold rallied 1.91% overnight, supporting MCX's bullion complex.
HOW MCX CLOSED VS THE DAY'S RANGE
NatGas closed near the lower end of its ₹8 range—at ₹262.3, just ₹0.8 above the low of ₹261.1. The contract faded from its intraday high of ₹269.5, a ₹7.2 retreat that signals selling pressure into the close. Silver closed firmly within the upper half of its ₹9335 range—at ₹243350, just ₹650 below the day's high of ₹245000. This near-highs close reflects sustained buying momentum, with the contract recovering ₹7685 from the low of ₹235665, a bullish structural close.
WHAT COMEX IS DOING NOW
COMEX Gold is extending gains at 4575.30 $/oz (+1.91%), confirming MCX bullion strength. COMEX Silver rallied harder at 68.31 $/oz (+3.91%), outpacing MCX's gains and signaling tomorrow's Silver could test resistance. WTI Crude at 86.62 $/bbl (+0.92%) lags MCX's 1.73% gain, suggesting crude may consolidate. Henry Hub Gas at 2.73 $/mmBtu (-2.91%) mirrors NatGas weakness, confirming the downtrend into US close.
OVERNIGHT WATCH LIST
NatGas traders: Watch ₹261 support (today's low) and 20-day SMA at ₹262. Silver traders: ₹245000 resistance (today's high) critical—COMEX +3.91% sets bullish tone. Crude: Monitor EIA crude inventory data (due Friday 1:30 AM IST) for direction confirmation.
Overnight watch: EIA crude inventory release and whether COMEX Gold sustains above 4575 $/oz through US close—both critical for tomorrow's MCX open direction.