TODAY'S SESSION RECAP
Natural gas led MCX lower, closing at ₹292.1/mmBtu, down 2.18% — the session's heaviest loser. Henry Hub mirrored the weakness in real-time, trading at 3.04 $, also down 2.50%. Crude oil bucked the bearish tone, settling +0.65% at ₹9455/bbl on stable global supply sentiment. Silver and gold both retreated modestly — silver down 0.64% to ₹209825/kg, gold off 0.42% to ₹147300/10g. The dollar held firm at ₹95.05, providing no tailwind for rupee-denominated commodities. NatGas volatility dominated the session with a ₹12 range, reflecting inventory concerns and demand forecasts ahead of the US winter season.
HOW MCX CLOSED VS THE DAY'S RANGE
NatGas closed near the session low (₹291.2), retreating decisively from its intraday high of ₹303 — a fade of ₹11/mmBtu into the close. The contract tested support around the ₹292 level (prior close) and held, but sellers controlled the narrative. Crude oil, by contrast, closed higher in its range at ₹9455, well above the session low of ₹9200, suggesting modest buying into the close. The ₹293 range compression in crude indicated tighter consolidation, while NatGas's ₹12 range showed directional conviction downward.
WHAT COMEX IS DOING NOW
COMEX gold trades at 4157.40 $, down 0.57% — confirming MCX gold's bearish lean. WTI crude at 98.44 $ is down 0.59%, neutral to slightly negative. Henry Hub at 3.04 $ remains under pressure. The US session is validating MCX weakness across precious metals and energy, signaling a bearish overnight tone for tomorrow's open.
OVERNIGHT WATCH LIST
NatGas: watch ₹291 support and ₹302 resistance. Crude: ₹9200 support holds the lows; ₹9493 is the key overhead resistance. Gold: ₹147111 (session low) and ₹148574 (high) frame the range. US crude inventory data (Tuesday morning IST) and overnight NatGas weather forecasts will shape pre-open sentiment.
Overnight watch: US EIA crude inventory release and Henry Hub sustaining below 3.04 — both signals of demand weakness heading into tomorrow's MCX open.