Bullions and Metals Trades Lower, Energy Looks Brighter...

Daily MCX Bulletin (01st Aug 2025)

The July 31 deadline for U.S. tariffs took effect from the day, with new levies spanning 10%–41% across countries. This raised concerns over demand softening amid trade disruption. Monetary fund has issued caution over global growth amid tariff volatility.

Gold Overview

Gold trading on a slightly negative note and showing further weakness, immediate Support around 98200 if break this level we’ll see more downside till 97900-97700 level. On the other side Resistance around 98700 if break above the resistance then we’ll see further upside movement till 99000+ levels.

Silver Overview

Silver break its important support yesterday and crash around 3%. Now important support around 109200 if break this level the we’ll see a sharp fall till 108500-108000. However a immediate résistance around 110000 if break and sustain above this then it will test 111000+ levels.

Copper Overview

Tariff of Semi processed Copper effective on today onwards. Copper resistance around 883 if it break and sustain above the resistance then we’ll see upside movement till 888-892. On the flip side support around 874 if break then we’ll see more downside till 868 levels.

Crude Oil Overview

After a drop of over 1% in the previous session, prices moves with a positive bias. Now Immediate Resistance around 6120 if break this level then we’ll see 6200 and then to 6260 levels. On the Other side crucial support around 5970 break below 5970 will negate our positive view for near term.

Natural Gas

Natural Gas bounced sharply from major support and performed well as per our expectations. Now Natural Gas has near support around 265 and near resistance around 278 if break above the resistance then we’ll see 284-288 levels.

Top Pick

Buy Copper above 880.

Stop loss below 874.