Metals Under Pressure While Bullions Trades on Mixed Note...

Daily MCX Bulletin (31st July 2025)

Global Highlights

A sudden U.S. tariff announcement on copper products triggered an massive 20% drop in Comex copper prices after an earlier dramatic rise..copper and metals are especially heavy impacted by tariff shifts..

Gold overview

US dollar and Treasury yield little weak, gold received some support but remain cautious, as immediate resistance 99300 If break above then a quick rally toward 99800 level. Howerver a 98700 is a crucial support, if break then we’ll see more downward level till 98200.

Silver Overview

After a strong run in Silver earlier the volume suggest highly profit booking in a higher levels, as Strong support around 111000 if break then a strong decline toward 109600-109000. However a upside hurdle around 112000 if break then we’ll see a quick recovery around 113000.

Crude overview

U.S. President Trump’s threats to impose 100% secondary tariffs on countries buying Russian oil including us.

Crude oil strong resistance around 6180 if break then we’ll see a rally toward 6270-6320

On the other side 6050 is a strong support.

Natural Gas Overview

Price pressures stem from cooling demand and sufficient supply, Ng support around 260 if break then go fresh downside toward 256-252 level, and other side resistance around 266 level break above 266 will test 272 level.

Copper overview

Copper recover From lower level as U.S. sudden announcement tarrif on production. Key resistance around 884 if this level break then a rally toward 892+ level. However other side a strong support around 868.

Top Pick

Sell Gold below 98800.

Stop loss above 99100.

Target = 98500-98400