TODAY'S SESSION RECAP
MCX crude dominated Friday's session, closing ₹9784/bbl — a +3.16% rally on geopolitical supply tightness and China demand optimism signalling industrial recovery. MCX Copper followed with a +1.15% close at ₹1378.35/kg, supported by production disruption narratives and Chinese manufacturing sentiment. Silver and Gold retreated into close, down -1.75% and -0.81% respectively, as USD strength and profit-taking offset earlier safe-haven bids. The complex fractured between energy (bullish) and precious metals (bearish) — a classic risk-on/risk-off divergence.
HOW MCX CLOSED VS THE DAY'S RANGE
Crude closed ₹9784 near its session high of ₹9828 — retaining 94% of intraday range, signalling conviction into close. No significant fade; buyers held through the final 30 minutes.
Silver closed ₹196100 at the lower end of its ₹192149–₹198320 range — a 70-point pullback from intraday high of ₹198320. Clear fading structure; sellers dominated the final hour as profit-taking accelerated off the session peak.
WHAT COMEX IS DOING NOW
COMEX Gold trades at 4009.80 $/oz, down -1.25% — extending MCX's downside into the US session. WTI Crude at 103.54 $/bbl is +4.09% — confirming MCX's bullish momentum and overriding any COMEX weakness. Henry Hub Gas spiked +9.19% to 3.05 $/mmBtu, contradicting MCX's modest -0.08% close. Signal: Energy confirmation bullish; precious metals bearish overnight.
OVERNIGHT WATCH LIST
Crude: Watch ₹9828 (today's high) and support at ₹9495 (session low).
Silver: ₹192149 support critical; break below triggers further liquidation.
US Crude Inventory Report (EIA) due overnight — surprise builds could arrest WTI's rally. Henry Hub weather updates matter for NatGas direction into Monday.
Overnight watch: US Crude Inventory Release + WTI holding above 103.50 $/bbl confirmation for ₹9828 resistance break at MCX open.