Bullion Maintains Ground; Crude Sees Sharp Recovery

Daily MCX Bulletin

Global highlights

Unresolved conflict and sanctions are contributing to elevated energy prices, and Tariff developments, particularly in industrial metals, could continue to create rapid shifts both risk and opportunities.

Gold

Gold remain cautious ahead of U.S. Federal Reserve Chair at the upcoming. Resistance around 99300, break and sustain above this level will expect upside move till 99800 mark. On the other side, key support around 98800, break below this level will see fresh downside move till 98500-98300 mark.

Silver

Silver reached at two-week low, pressured by a stronger U.S. dollar and higher Treasury yields. Resistance around 113000, break and sustain above this level will see upside move till 113700-114200 mark. Key support around 111800, break below this level will see a downside move till 111000 mark.

Copper

Copper strong rebound in China’s imports indicates firm industrial demand underpinning medium-to-long-term support.. Resistance around 875, break above this level will test 880 mark. On the Other side support around 867, break below this level will see a downside move till 863 mark.

Crude Oil

Crude Oil supported by strong U.S. demand and geopolitical uncertainty, especially around the Ukraine conflict. Support around 5480, break below this level will see more further downside till 5420-5380 mark. On the other side resistance around 5560, break and sustain above this level will see upside move till 5630 mark.

Natural Gas

Natural Gas price remained restrained amid enough supply and cooling weather. Support around 236, break below 236 will see more downside move around 230 mark. On the other side resistance around 244, break and sustain above 244 level will expect move toward till 248-253 mark.

Top Pick

Buy Natural Gas around 240. Stop loss below 233. Target-248-253.