Bullions and Metals Shines Again, Crude Oil Under Pressure...

Daily MCX Bulletin

Global highlights

Gold and silver rallied after weak U.S. jobs data and U.S. non-farm payrolls came well below expectation and fueling Fed rate cut speculation and weakening the dollar index.

Gold Overview:

Gold safe-haven demand climbed amid weak U.S. jobs data and trade tensions. Resistance around 100700 if this break and sustain then gold will be reached new high,

On the Other side Support around 99800, break below 99800 will see fresh weakness.

Silver overview:

Silver is gaining due to its demand for clean energy and EV industries, along with inflation hedging appeal amid a weakening rupee. Resistance around 112000 if its break the resistance then it will test 113000. Support around 111000 break below the support will test 110000 mark.

Crude overview

Crude briefly rose above 6200, then declined to around 5900, largely due to OPEC+ pledging to increase September output.

Crude oil support around 5800, break below 5800 will test 5700-5660 level. On the other side 6000 is the crucial level for the upside move.

Natural Gas overview:

Natural Gas rebound slightly from the lower levels, resistance around 274, break above 274 will test 280-285. Support around ₹260 break below 260 will negate our bullish view for short term.

Copper overview :

Monitor global supply disruptions, tariff policies, and demand from aluminum price very fluctuate. Copper Resistance around 890 break and sustain above 890 will test 900-904 and on the other side strong support around 878.

Top Pick

Buy Natural Gas above 272. Stop loss below 266. Target-279-282.