TODAY'S SESSION RECAP
MCX crude dominated Thursday's session, closing at ₹9008/bbl (+3.14%), extending a 494-rupee intraday range. WTI crude mirrored the strength at 92.98 $/bbl (+2.83% in US session), signalling sustained US demand recovery and geopolitical premium. Gold followed with +1.10% to ₹147724/10g, supported by safe-haven flows and COMEX gold's +0.52% overnight move. Silver added +0.82% (₹225545/kg). NatGas retreated −0.76% (₹288.1/mmBtu) as US Henry Hub (-2.48%) weakened on weather normalization. Copper stayed flat (−0.19%, ₹1398.95/kg).
HOW MCX CLOSED VS THE DAY'S RANGE
Crude closed just 19 rupees below its high (₹9027), capturing 475 of 494 range points—a bullish close structure. The close near session highs suggests momentum sustained into final hour. Gold closed ₹426 below its ₹148150 high, retreating from intraday peak but holding +1.10% gains. Silver's close at ₹225545 was near the midpoint of its 2,882-rupee range, indicating consolidation rather than breakout conviction.
WHAT COMEX IS DOING NOW
COMEX gold trades at 4208.40 $/oz (+0.52%), confirming MCX gains. WTI at 92.98 $/bbl (+2.83%) validates crude's bullish structure—US session has extended rather than faded overnight moves. COMEX silver at 61.37 $/oz (+2.12%) outpaces MCX silver, suggesting upside potential for tomorrow's open. Overall, COMEX is in bullish confirmation mode.
OVERNIGHT WATCH LIST
Crude: ₹9027 (daily high) is first resistance; ₹8782 (S1) is support floor. Gold: ₹148150 retest likely if COMEX holds current gains; ₹146934 (S1) is overnight floor. Key data: US crude inventory report (weekly EIA) due Friday morning; USD/INR at ₹96.54 will influence import parity.
Overnight watch: US crude inventory release and COMEX crude holding 92.50 $/bbl support level.