Bullions Again Heading Towards Fresh Highs...

Daily MCX Bulletin

Gold

Gold has surged to all time high. The gains were driven by U.S. tarrif tension and weakening rupee. Support around 101500, break below this level will see further profit booking till 101100-10800 mark.

Silver

Silver continued bullish momentum, supported by rate cut optimism and favorable risk sentiment. Resistance around 115600, break and sustain above will see a new fresh high till 116500+ mark. On the other side support around 114500, break below this level will see more downside move till 113800-113000 mark.

Copper

Copper is trading steady around 885 level. Resistance around 888, once break this level will expect upside move till 894-900 mark. On the other side support around 878, break this level will see more downside move around 872 mark.

Crude Oil

New U.S. tariffs imposed raising fears of reduced oil demand and contributing to this week’s sharp price declines. Key support around 5540, break below this level will test 5480 level. On the other side resistance around 5650, break and sustain above 5650 will see a sharp reversal toward 5750-5800 level.

Natural Gas

Inventory injections are lighter than expected, nudging prices upward, though the short-term outlook remains cautious. Resistance around 274, break and sustain will test 280 level. Support around 266, break below will touch 260 level in upcoming session.

Top Pick

Sell Gold below 101800. Stop loss above 102100. Target-101400-101200.