Bullions Again on Fire and Metals Stuck in a range...

Daily MCX Bulletin

Global highlights

Investors are on edge, awaiting Friday’s release of the U.S. Personal Consumption Expenditures Index, the Fed’s preferred inflation gauge. Expectations of a 25 basis point rate cut remain strong.

Gold

Gold is showing bullish momentum, with cautious buying on dips. Resistance around 101800, break and sustain above this level will expect upside move till 102200 mark. On the other side, support around 101400, break below this level will see downside move till 100800 mark.

Silver

Silver rise driven by heavy demand amid geopolitical and economic uncertainty. Resistance around 117000, break and sustain above this level will see new fresh highs. Key support around 116000, break below this level will see a downside move till 115200 mark.

Copper

Copper prices are showing stability with upside momentum. Resistance around 888, break above this level will test 892-895 mark. On the Other side support around 882, break below this level will see a downside move till 876 mark.

Crude Oil

Crude oil prices remain cautious ahead of inventory. Support around 5540, break below this level will test 5500-5480 mark. On the other side resistance around 5630, break and sustain above this level will see upside move till 5680-5700 mark.

Natural Gas

Natural Gas looks stable and recover from lower level. Support around 248, break below will see more downside move around 240 mark. On the other side resistance around 256, break and sustain above this level will expect fresh upside move till 260+ mark.

Top Pick

Buy Natural Gas around 254. Stop loss below 247. Target-262-266.