TODAY'S SESSION RECAP
Silver led a broad metals retreat, closing down 2.77% at ₹188943/kg after a ₹4969 intraday range. Gold followed with a 0.94% decline to ₹142351/10g, while crude oil fell 1.02% to ₹9698/bbl. The driver: sustained dollar strength (USD/INR at ₹95.52) paired with fading demand signals from COMEX weakness. COMEX Gold currently trades at 4038.50 $/oz (−0.32% today), reflecting cautious US positioning ahead of Friday's key economic data. Copper showed resilience, declining only 0.34% to ₹1394.8/kg. Natural Gas bucked the trend, gaining 0.25% to ₹282.5/mmBtu on volatility, though Henry Hub weakness (2.90 $/mmBtu, +3.09% US) signals storage surplus pressure on LNG import economics.
HOW MCX CLOSED VS THE DAY'S RANGE
Silver closed at session lows (₹188943), marking a retrace from the day's high of ₹193912 — a 2.6% pullback structure indicating late-day selling momentum into close. Gold similarly retreated from its ₹143920 high to close at ₹142351, a 1.09% fade, suggesting institutional profit-taking after early bullish positioning. Crude held above its ₹9507 low, closing at ₹9698 with the day's high at ₹9735 — a tighter 0.38% fade reflecting intraday bid support.
WHAT COMEX IS DOING NOW
COMEX Gold is down 0.32% at 4038.50 $/oz; COMEX Silver has crumbled 2.13% to 52.32 $/oz — confirming the bearish structure seen in MCX silver into close. WTI Crude is flat to slightly positive (+0.09% at 102.87 $/bbl), suggesting overnight crude support despite metals pressure. US session weakness across precious metals is bearish signal for MCX Friday open.
OVERNIGHT WATCH LIST
Silver ₹188943 support — break below closes door on recovery. Gold ₹141500 intraday target if dollar stays bid. Crude ₹9650 pivot — watch for OPEC commentary overnight. Henry Hub 2.85 $/mmBtu — storage data Friday could extend MCX NatGas pressure.
Overnight watch: US crude inventory report (Friday AM) — will set tone for crude repricing at MCX open.