A Range-bound Session is Observed, Awaiting a Fresh Trigger...

Daily MCX Bulletin

Gold and silver prices are down after a Fed rate cut. Bullion markets are sensitive to interest rate expectations, inflation signals, and currency moves.

Gold

Gold prices are down after a fade rate cut. Support around 1,09,000 break below this level will see profit booking till 1,08,600-1,08,300 mark. Resistance around 1,09,600, further upside move will be expected above 1,09,600 level till 1,10,000 mark.

Silver

Profit booking noticed in Silver after FED rate cut Support around 1,27,500 and resistance around 1,29,000 break below 1,27,500 level will see sharp profit booking till 1,27,000-1,26,500 mark.

Copper

Copper stuck in a range and move in a sideways zone. Resistance around 910, break above this level will see upside move till 914-918 mark. On the other side, support around 902, break below this level will see a downside move till 897-892 mark.

Crude Oil

Crude oil prices have been relatively stable but with slight down word pressure. Support around 5520, break below this level will test 5460-5430 mark. On the other side, resistance around 5650, break and sustain above this level will see upside move till 5720-5750, mark.

Natural Gas

Natural Gas storage has been increasing, with recent builds larger than expected. This tends to put downward pressure on prices. Support around 256, break below will see more downside move around the 252-246 mark. On the other side, resistance around 265, break and sustain above this level will expect a fresh upside move till 272-275 mark.

Top Pick

Buy Crude Oil above 5610. Stop loss below 5530. Target-5700-5740.