TODAY'S SESSION RECAP
MCX traded in defensive mode as gold rallied while crude collapsed. Gold closed at ₹164041/10g, gaining 0.99% — the day's strongest performer — driven by safe-haven demand amid broader risk-off sentiment. Crude fell 2.62% to ₹8140/bbl, tracking a sharp 2.68% decline in WTI to $84.73/bbl overnight. The crude weakness mirrored demand concerns from slowing global growth signals. Natural Gas posted modest gains of +0.26% to ₹265.5/mmBtu, while Silver and Copper remained near flat.
HOW MCX CLOSED VS THE DAY'S RANGE
Gold closed near its intraday peak, settling at ₹164041 just 732 rupees below the session high of ₹164773 — a bullish structural close. The metal spent most of the day above its 20-day SMA of ₹153767, confirming upside momentum. Crude, by contrast, faded hard into the close. It finished at ₹8140, 162 rupees above the low of ₹8092 but 115 rupees below the open of ₹8255, indicating selling pressure through the afternoon as WTI weakness accelerated.
WHAT COMEX IS DOING NOW
COMEX Gold is currently extending gains at +0.62% to $4709.40/oz — confirming MCX's bullish close. WTI Crude continues its decline at $84.73/bbl (-2.68%), aligning with MCX weakness. The US session is validating the risk-off narrative: defensive metals firming, energy selling. This sets a constructive overnight tone for tomorrow's MCX gold, bearish for crude.
OVERNIGHT WATCH LIST
Monitor Crude at ₹8092 (intraday low/support) and ₹8170 (R1 resistance). Gold resistance sits at ₹164773 (today's high). Track US crude inventory data (EIA weekly release) and any Fed speaker commentary on rate expectations — both will influence energy and safe-haven flows.
Overnight watch: WTI crude inventory data and ₹8092 support level on crude — a break below triggers further downside risk.