MCX Gold rallies +1.42% on rupee weakness tailwind

WHAT HAPPENED MCX Gold surged to 152950 INR/10g at 23:47 IST, posting a +1.42% gain from the previous close. The rally extends the recovery momentum established at 18:17 IST when gold hit 155132 INR/10g (+1.79%). Silver tracked in lockstep at +1.36% to 235275 INR/kg, while copper added +0.75% to 1375.8 INR/kg. USD/INR remained stable at 95.95 INR, suggesting rupee support continues to underpin bullion strength despite flat forex dynamics.

WHAT IT MEANS Gold has now erased the two-session downtrend that bottomed at 150824 INR/10g on 13:29 IST. The 1.42% move through 152950 signals conviction in the recovery, with silver and copper participation indicating broad-based commodity demand. For MCX futures traders, this consolidation above the 152000 level suggests bulls have recaptured momentum after the 19:22 IST dip to 150924 INR/10g.

WHAT TO WATCH 151000 support and 155000 resistance. A close above 153500 INR/10g would signal a fresh breakout attempt; a breakdown below 151500 would retest the recent downtrend lows.