TODAY'S SESSION RECAP
MCX metals complex closed in broad advance Thursday, led by silver's +2.04% surge to ₹244300/kg. Gold followed with +0.75% close at ₹153721/10g, while copper added +0.84% to ₹1424.5/kg. Energy sector diverged: crude oil inched +0.21% to ₹9118/bbl, but natural gas fell -1.86% to ₹269.2/mmBtu. Dollar weakness and reflation bid across global commodity markets drove the metals rally, with COMEX gold already at +1.48% during US session. Silver's outperformance reflects industrial demand repricing alongside precious metal buying.
HOW MCX CLOSED VS THE DAY'S RANGE
Silver closed ₹244300 near session high of ₹245099, capturing +799 points within 2193-point daily range and showing bullish structure into close. Gold closed ₹153721 mid-range between low ₹152101 and high ₹154294 — a modest +1620-point move but contained within the day's volatility. Both precious metals held gains through final hour, suggesting sustained buying rather than profit-taking fade. Silver's proximity to session high indicates momentum retention.
WHAT COMEX IS DOING NOW
COMEX gold trading at 4459.00 $/oz (+1.48%) and silver at 68.38 $/oz (+3.13%) — both extending gains. WTI crude at 95.93 $/bbl (+3.12%) shows strong US momentum, directly confirming MCX crude's undertone. Henry Hub gas at 2.82 $/mmBtu (-3.43%) mirrors MCX NatGas weakness. US session is broadly bullish for metals, bearish for gas — a clear confirmation vector for tomorrow's MCX open.
OVERNIGHT WATCH LIST
Silver: ₹245099 (session high) and ₹243842 (S1 support) critical tomorrow. Gold: ₹154294 resistance level. NatGas: ₹277 ceiling vs ₹269 floor. US crude inventory data (EIA release, typical 2:30 PM IST Friday) and Fed speaker commentary overnight will reset WTI trajectory.
Overnight watch: COMEX silver close above 68.00 $/oz — confirms Mumbai open momentum for precious metals.