TODAY'S SESSION RECAP

MCX Crude led Friday's session with a +2.14% rally, closing at ₹9917/bbl after touching ₹9972 intraday. The move reflected steady OPEC output discipline and technical buying off the 5-day low of ₹9471. MCX Silver retreated -0.13% to ₹178,900/kg, though the session masked broader industrial demand concerns highlighted in overnight intelligence: gold-silver ratio widened as solar and semiconductor cycle fears weighed on physical offtake expectations. WTI Crude supported MCX directionally at +1.01% to $103.03/bbl, anchoring energy complex sentiment into close.

HOW MCX CLOSED VS THE DAY'S RANGE

Crude closed near session highs—just 55 points below the ₹9972 intraday peak—a bullish close structure that held above the 20-day SMA of ₹9352. The ₹212-point range compression into close suggested buying conviction through the final hour. Silver, by contrast, closed at the lower end of its ₹9,453-point range (H: ₹188,272 / L: ₹178,819), indicating late-session retracement from intraday highs. Gold held near overnight lows at ₹138,419, down just 0.05%—minimal intraday conviction in either direction.

WHAT COMEX IS DOING NOW

COMEX Gold is fading sharply at -3.64% to $3,884.80/oz as US equities find footing and real yields tick higher. COMEX Silver has crashed -5.73% to $49.20/oz, confirming the industrial demand narrative. WTI Crude holds gains at $103.03/bbl, supporting tomorrow's MCX open. The divergence—energy firm, precious metals collapsing—signals potential profit-taking pressure in MCX Gold and Silver at tomorrow's open.

OVERNIGHT WATCH LIST

Critical Levels:

  • Crude: R1 at ₹9,972 (intraday high); S1 at ₹9,760 (support)
  • Silver: ₹178,819 (today's low); watch breach below ₹177,000 for continuation

Data Release: US API crude inventory (11:30 PM IST tonight); EIA official inventory (1:30 AM IST Saturday). Fed speakers into US close will impact dollar strength and precious metals overnight.

Overnight watch: US crude inventory release and COMEX Gold closing direction—if Gold breaks below $3,850/oz, MCX Gold faces fresh selling pressure at open.