TODAY'S SESSION RECAP
MCX closed in a risk-off posture—gold rallied while crude retreated. MCX Gold led with a +0.79% close at ₹143150/10g, extending defensive positioning ahead of US macro data. MCX Crude fell -0.87% to ₹9715/bbl, pressured by WTI weakness (-1.88% on COMEX at 101.33 $/bbl) amid softer global demand signals. Copper supported with +0.65% to ₹1386.1/kg. NatGas posted a marginal +0.16% close at ₹248.8/mmBtu. The session traded a 265-point range in Crude (₹9562–₹9827) and a 1277-point range in Gold (₹142086–₹143363).
HOW MCX CLOSED VS THE DAY'S RANGE
Gold closed near the upper half of its range—₹143150 settlement against a high of ₹143363 and low of ₹142086—structurally bullish, holding most intraday gains with just 213 points of retrace from peak. Crude, by contrast, reversed sharply into close, settling ₹9715 after trading a high of ₹9827 (a 112-point fade from intraday top), signaling weakening conviction into the bell. Silver remained flat at ₹195900/kg, trapped in a 4676-point range.
WHAT COMEX IS DOING NOW
COMEX Gold is confirming MCX direction—currently +0.45% at 4026.10 $/oz, extending the defensive bid. WTI Crude diverges bearishly, trading -1.88% at 101.33 $/bbl, amplifying the risk-off tone. COMEX Silver at 53.96 $/oz is near flat (+0.02%), showing no conviction. The US session is reinforcing safe-haven demand and crude weakness into tomorrow's MCX open.
OVERNIGHT WATCH LIST
Monitor Gold's 20-day SMA at ₹147328 as a resistance level if rallies extend. Crude's support sits at S1 ₹9562; breach signals further weakness. US crude inventory data due tonight will set crude tone. NatGas traders watch Henry Hub for any overnight volatility signals.
Overnight watch: US crude inventory release and WTI direction—crude has broken lower twice today; inventory miss could accelerate ₹9715 support test.