Bullions Hold Key Levels Ahead of Crucial US Data – Volatility Expected Post Evening!

📉 MCX Bulletin – 16th July 2025 📈

The commodities market is trading with a mixed tone today, with bullions attempting a rebound while base metals stay cautious ahead of crucial data updates.

🔍 Key Data to Watch Today:

US Retail Sales (6:00 PM IST) – Can drive volatility in Gold, Silver & Crude Oil. Strong data may pressure bullions.

Fed Chair Speech (8:00 PM IST) – Any hint on rate outlook will directly impact Dollar movement, thereby affecting bullion prices.

🟡 Gold (Aug Futures)

Gold bounced from crucial support and is now consolidating.

Support: 97280

Resistance: 97800

🔺 Fresh upside only above 97800 on closing basis.

🔻 Break below 97280 could trigger a fall toward 97000–96780.

⚪ Silver (Sep Futures)

Silver trades firm with a positive intraday tone.

Support: 111300

Resistance: 112800

🌟 Breakout above 112800 could trigger further rally.

🟠 Copper (Aug Futures)

Copper is hovering around key technical levels.

Support: 877

Resistance: 884

🚨 Break above 884 can test 889–892 levels.

⚠️ Breakdown below 877 may weaken the tone.

🛢️ Crude Oil (July Futures)

Crude oil showed strong performance, in line with our view.

Support: 5680 ➡️ Break can test 5620–5560

Resistance: 5750 ➡️ Break above can shift trend to bullish.

🔥 Natural Gas (July Futures)

Gas looks technically strong with bullish signs.

Support: 300

Resistance: 307

🚀 Break above 307 can test 312–316 today.

✅ Top Pick of the Day:

🔻 Sell Gold Below 97270

🎯 Targets: 97040 – 96880

🛡️ Stop Loss: Above 97450

Stay tuned for the US data impact later in the evening – expect volatility to rise post 6:00 PM!

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