TODAY'S SESSION RECAP
NatGas dominated today's MCX session, closing at ₹273/mmBtu, down 2.36% and marking the complex's weakest performer. Silver followed, retreating 0.89% to ₹239455/kg. Gold declined 0.85% to ₹153069/10g. The selloff was driven by weakness in US energy futures—COMEX Henry Hub Gas currently trading at 2.83 $/mmBtu (down 2.85%)—signaling softer demand expectations heading into autumn. Copper bucked the trend, gaining 0.57% to ₹1411/kg, while crude held near flat at ₹8840/bbl (+0.05%), despite WTI dropping 4.07% overnight to 92.17 $/bbl.
MCX CLOSED VS DAY'S RANGE
NatGas closed near the session low of ₹271.3, well below the intraday high of ₹277.6—a bearish fade from the day's range. Silver similarly retreated, closing at ₹239455 against a high of ₹242175, closing near support at ₹239050. Both commodities printed lower-range closes, signaling seller control into the MCX close and weakness extending into US hours.
WHAT COMEX IS DOING NOW
COMEX is confirming MCX weakness. Gold at 4383.90 $/oz (-0.93%), silver at 66.59 $/oz (-0.83%), and WTI at 92.17 $/bbl all trading lower. Henry Hub's 2.85% decline is the standout—bearish divergence for tomorrow's NatGas open. Crude's overnight weakness (4.07%) contrasts with MCX's near-flat close, warning of gap-down risk at tomorrow's open.
OVERNIGHT WATCH LIST
Critical levels for tomorrow's MCX open: NatGas S1 at ₹273, SMA resistance at ₹277. Silver support at ₹239050, SMA resistance at ₹237651. Crude: monitor USD/INR at ₹95.81 for rupee impact.
Data: US crude inventory (EIA release expected early US session), Henry Hub real-time pricing, overnight weather forecasts affecting demand.
Overnight watch: Henry Hub Gas pricing and US crude inventory release—both will shape energy complex direction at tomorrow's MCX open.