Bullions and Metals Shine, Crude Tests Key Support

⚡ MCX Evening Bulletin ⚡

Global Market Watch:

Today’s movement in bullions and metals is expected to stay volatile ahead of ‘Fed Officials' speeches, which may impact the dollar index and thus influence commodity prices. Eyes also remain on geopolitical tensions and movement in the US bond yields which are crucial for gold and silver.

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🟡 Gold Overview:

Gold showed strong momentum in the last session and still maintains a bullish tone. If it breaks above ₹99,600, a quick rally towards ₹1,00,000 and then ₹1,00,400 is likely.

However, ₹98,800 remains a crucial support zone—closing below this could invite selling pressure.

⚪ Silver Overview:

Silver continues to exhibit strength on the charts and is set for more gains in the near term. It has immediate resistance at ₹1,15,200, a break above which can spark a sharp rally.

On the downside, ₹1,14,400 is strong support—holding above this keeps the bulls in control.

🔴 Copper Overview:

Copper is hovering near a key resistance zone and awaits a breakout. A move above ₹898 will open doors for a rally towards ₹904-910 levels.

Support is seen near ₹892, and until a clear breakout, range-bound movement may persist.

🛢️ Crude Oil Overview:

Crude oil is trading near a crucial support at ₹5,620. If it sustains above this, we could see a bounce back towards ₹5,680–5,750+ zones.

However, a break and hourly close below ₹5,620 may trigger a fresh fall towards ₹5,560. Watch levels closely for directional clarity.

🔵 Natural Gas Overview:

Natural Gas remains weak on charts and the trend looks bearish for the day. Resistance is placed at ₹285; if it crosses this level, expect a move towards ₹289–292.

Immediate support is at ₹278, and a break below may drag prices further down.

🌟 Top Pick of the Day – Copper (Futures)

🔹 Buy around ₹895

🔹 Stop Loss: ₹888

🔹 Target: ₹903 – ₹910

Copper is showing strength with accumulation near resistance—breakout looks imminent.