Bullions Trades Higher While Energy Sector under Pressure..

Daily MCX Bulletin

Global highlights

Safe-haven demand for gold and silver is elevated amid trade uncertainty and shaky global equity markets and oversupply fears in oil, and soft outlook for gas demand, continue to weigh on energy contracts.

Gold overview:

Gold futures surged by heightened tariff tensions and rising demand. Resistance around 101300 if it breaks this level then it will test 101800 level. However support around 100800 break below 100800 will see fresh reversal on the lower side.

Silver overview:

Silver continues gaining traction, and growing industrial demand—especially for renewable energy and EV manufacturing. Resistance around 112800 break and sustain above this level will test 113500-114000. On the other side support around 111900 , break below the support will negate our bullish view for the day.

Copper overview:

Copper shows significant pullback amid risk-off sentiment. Resistance around 890, break and sustain above 890 will test 896-900 levels. On the flip side support around 878, any weakness will expect below 878.

Crude Oil Overview:

Crude Oil is hovering near one-week lows amid a resurgence in oversupply concerns. Crucial Support around 5760 break below 5760 will test 5700-5650 leves. On the other side resistance around 5850 if it breaks the resistance it will again test 6000 level.

Natural gas Overveiw:

Natural gas pressured by oversupply and mild weather expectations. Crucial support around 254, break below 254 will test the level of 250-248 and other side resistance around 265 break and sustain above this level will negate our bearish for short term.

Top Pick

Sell Gold below 100900. Stop loss above 101200. Target-100550-100400.