TODAY'S SESSION RECAP
NatGas led MCX higher with a +1.93% gain to ₹300.8/mmBtu, while gold and silver followed defensive demand with +0.55% and +0.57% gains respectively to ₹150,130/10g and ₹227,365/kg. Crude broke ranks and fell -0.38% to ₹8,636/bbl on softer US demand signals. The session reflected classic risk-off positioning: equity weakness globally triggered flows into safe-haven precious metals, while energy weakness reflected demand concerns. NatGas benefited from seasonal volatility and overnight US inventory data expectations ahead of tomorrow's EIA release.
HOW MCX CLOSED VS THE DAY'S RANGE
Gold closed near the upper end of its range, settling at ₹150,130 against a high of ₹150,575 and low of ₹148,701—a bullish close structure suggesting strength into the close. Silver similarly held upper-range ground at ₹227,365, near its intra-day high of ₹228,075 versus low of ₹224,377, indicating buyers defended gains. NatGas closed at ₹300.8 mid-range (high ₹302.3, low ₹296.2), while crude retreated sharply from its high of ₹8,694 to ₹8,636—a clear fade structure signaling profit-taking from intra-day peaks.
WHAT COMEX IS DOING NOW
COMEX gold is extending gains at 4194.50 $/oz (+0.91%), confirming MCX direction. WTI crude sits at 89.84 $/bbl (+0.46%), also positive but lagging—not decisively bullish. COMEX silver at 61.75 $/oz (+1.44%) is outpacing both, reflecting ultra-defensive appetite. The US session is broadly confirming the safe-haven narrative but with muted crude conviction.
OVERNIGHT WATCH LIST
Monitor gold's daily close above ₹150,500 and crude's support at ₹8,600. NatGas traders watch ₹299 support ahead of EIA inventory data (2:30 PM IST Wednesday). Silver's 20d SMA at ₹232,420 remains overhead resistance.
Overnight watch: EIA US crude inventory release (2:30 PM IST Wednesday)—will set crude's tone for tomorrow's MCX open.