Gold Insight:
Gold News
Gold prices fell in Asian trade on Thursday amid some improvement in risk appetite after U.S. President Donald Trump downplayed fears that he will prematurely fire Fed Chair Jerome Powell.
Broader metal prices were also subdued amid pressure from a stronger dollar, which steadied near a three-week high following sticky inflation data for June.
Technical Overview
GOLD :Technically, gold prices remained range-bound and taking support at 50-DMA, while buying momentum remained weak with average volume. The MACD is remaining slumbery while RSI is staying at 52 levels on the daily chart. However, prices are trading in a sideways channel indicating further range-bound move in today’s session. Gold has resistance at 99000 and a further support at 96500.
Silver Insight
Silver News
Trump claimed that Powell has been too late in cutting U.S. interest rates, demanding that he do so immediately to prevent economic damage.
Powell and several Fed policymakers, on the other hand, have signaled that interest rates will remain unchanged until the inflationary impact of Trump’s tariffs becomes clear.
Technical levels:
SILVER:Technically, silver has recovered slightly but trading in a range for three days. However, MACD is still positive with moderate buying momentum and RSI is hovering at 67 levels yesterday, indicating mild upside move in today’s session. Silver has support at 110,000 and resistance at 113,000.
Crude Oil Insight
Crude oil News
Oil prices edged up on Thursday on signs of easing trade tensions, stronger than expected economic data from the world’s top oil consumers and renewed risks in the Middle East.
Drone attacks on oilfields in Iraq’s semi-autonomous Kurdistan region have slashed crude output by up to 150,000 barrels per day, two energy officials said on Wednesday, as infrastructure damage forced multiple shutdowns.
Technical levels:
CRUDE OIL:Technically, Crude oil prices gained yesterday, after forming a dogi candle at the recent low. Crude oil prices are taking support of 50-DMA with moderate volume. However, prices are trading below 200-DMA with a narrow range. The MACD is negative while RSI is hovering above 50 level on the daily chart indicating a range-bound to the upside move in today’s session. Crude oil has resistance at 5900 and support at 5600.
Natural Gas Insight
Natural gas News
U.S. natural gas futures are expected to hold firm or edge higher during the week of July 14 to July 19 as widespread above-normal temperatures dominate key demand regions.
U.S. natural gas futures are expected to hold firm or edge higher during the week of July 14 to July 19 as widespread above-normal temperatures dominate key demand regions.
Technical levels:
NATURAL GAS :Technically, natural gas prices gained slightly and trading above 50-DMA. The prices are continue trading above 200-DMA. While, MACD has given a positive crossover with moderate buying momentum and RSI is trading above 50 levels on the daily chart indicating a mild upside move in today’s session. Natural gas has support at 290 and resistance at 320.
Base Metal Insight
Base Metal News
The US Commerce Department reported on Thursday that June retail sales, often referred to as the "terror data," grew 0.6% MoM, rebounding from May's sharp 0.9% decline and significantly exceeding market expectations of 0.1% growth. As tariff impacts began affecting consumer prices, US Fed officials remained divided on interest rate cuts. Additionally, Thailand announced plans to exempt 90% of US goods from tariffs, while the EU proposed new service tariffs and export controls on the US, indicating continued macro uncertainty.
Supply side, standard-quality copper remained scarce, with some high-quality copper supply replenished, while SX-EW copper stayed tight. Demand side, suppliers maintained high premiums during the day, but early SHFE copper price declines dampened market sentiment, with downstream buyers remaining cautious and procurement activity subdued.
Technical levels:
COPPER:Copper is sustaining near the support of 880 and making small body candle respecting the support and the resistance is placed at 900
ZINC: Zinc after taking support from 254 level given a bullish move and again approaching to 260 level which is a strong resistance
ALUMINUM: Aluminum after a strong rally aluminum has stuck into a time vise correction in the rang of 251 to 246 and breakout either side with trigger a sharp move either side
Forex Insight
Dollar Index News
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is retracing its recent losses from the previous session and trading around 98.50 during the Asian hours on Thursday.
The Greenback receives support from rising odds of the Federal Reserve (Fed) maintaining its benchmark overnight interest rate unchanged in the 4.25%-4.50% range at its July policy meeting, driven by the hotter-than-expected June inflation figures from the United States (US).
Technical levels:
DOLLAR INDEX :Technically, US dollar index gained yesterday with moderate volume. While, MACD has given positive crossover with strong buying momentum and RSI is hovering above 50 levels on the daily chart. The buying sentiment is likely to remain intact until it holding 97 mark. It has support at 96.80 and resistance at 99.
Forex Insight
USDINR News
The Indian rupee extended losses for the second straight session on Thursday, weakening by 14 paise to close at 86.14 in NSE Futures (29 July-25), marking a 3-week low amid a strengthening dollar and renewed pressure from upbeat U.S. retail sales data. The rupee traded between 85.84 and 86.16 during the day, weighed down by the uptick in the dollar index and easing concerns over Fed leadership stability.
However, some support was observed at lower levels, helped by expectations of inflows and declining crude oil prices, even as global trade tensions and U.S. tariff uncertainties lingered.
Technical levels:
USDINR : Technically, day trend may remain bullish in USDINR after approaching an important support zone of 85.50 level the next support level is placed at 85.25 level and resistance at 86.30
Derivative Insight
| Script | Highest traded Strike Price (CE) | Highest traded Strike Price (PE) | PCR |
|---|---|---|---|
| GOLD | 98000 | 97000 | 1.11 |
| SILVER | 112000 | 110000 | 0.95 |
| CRUDE OIL | 5800 | 5700 | 0.65 |
| NATURAL GAS | 310 | 300 | 0.87 |
| GOLD MINI | 98000 | 97000 | 0.95 |
| SILVER MINI | 112000 | 110000 | 0.67 |
| Highest Traded Commodity | NATURAL GAS |
| Lowest Traded Commodity | BULLDEX |
Derivative Insight
| Script | Price | Price Change | OI Change | Buildup |
|---|---|---|---|---|
| GOLD | 97473 | -0.32 % | +0.40 | Short buildup |
| SILVER | 112334 | 0.63 % | -3.90 | Short unwinding |
| CRUDE OIL | 5792 | 1.38 % | +17.6 | Long buildup |
| NATURAL GAS | 306.1 | 1.22 % | +7.4 | Long buildup |
| COPPER | 882.60 | 0.15 % | -9.7 | Short unwinding |
| ZINC | 258.55 | 0.82 % | -6.0 | Short unwinding |
| ALUMINIUM | 249.05 | 0.36 % | -6.25 | Short unwinding |
Nirpendra Yadav
Digitally signed by Nirpendra Yadav Date: 2025.07.18
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