TODAY'S SESSION RECAP
Natural Gas dominated MCX today, closing +3.64% at ₹313.2/mmBtu following a weather forecast adjustment or storage data release that moved the complex sharply higher. Silver fell -1.81% to ₹218850/kg and Gold retreated -0.85% to ₹148274/10g as risk appetite shifted toward energy. NatGas traded a ₹16 range (₹297.3–₹313.7), breaking above its 20-day SMA of ₹302. Precious metals underperformed amid USD strength at ₹95.45, with crude sliding -0.24% to ₹8958/bbl despite WTI strength in US hours.
HOW MCX CLOSED VS THE DAY'S RANGE
NatGas closed near session highs—₹313.2 versus high of ₹313.7—a bullish intraday structure that held gains into the final half-hour. Silver, however, faded sharply from its ₹223572 high, closing ₹4722 lower at ₹218850, retesting its session low. This retreat into close signals profit-taking in precious metals after the morning spike, contradicting NatGas' sustained momentum. Gold similarly closed near lows (₹148274) versus high ₹149990, indicating selling pressure through the afternoon session.
WHAT COMEX IS DOING NOW
COMEX is confirming NatGas momentum: Henry Hub trades +4.74% at 3.32 $/mmBtu, outpacing MCX's +3.64% move. COMEX Gold at 4181.20 $/oz (-0.22%) is holding steady but slightly soft, while WTI surges +1.30% to 94.96 $/bbl. The US session is diverging—energy strength contrasts with precious metals weakness—signaling mixed overnight sentiment before MCX's Wednesday open.
OVERNIGHT WATCH LIST
Monitor NatGas resistance at ₹314 and support at ₹303 (S1). Silver's ₹218750 support level holds today's low; a break below invites extension toward ₹215k. Watch for US crude inventory data and any overnight weather updates affecting winter gas demand forecasts.
Overnight watch: Henry Hub momentum at 3.32 $/mmBtu—if COMEX NatGas holds above 3.30 through US close, MCX NatGas may extend gains past ₹315 at Wednesday's open.