Commodity Morning Outlook 🌅 – 02 June 2025
Gold @ ₹96,387 | Silver @ ₹97,425 | Crude Oil @ ₹5,349 | Natural Gas @ ₹302.30
Global Cues, Dollar Index Impact & Technical Analysis
By CapitalKeeper – Your Morning Commodity Edge
🌍 Global Market Cues
- Dollar Index (DXY): Currently hovering near 104.25, showing slight weakness as traders await upcoming U.S. job market data and inflation outlook.
- US Economic Data: All eyes on the upcoming JOLTS and Non-Farm Payrolls this week, which could reshape Fed’s interest rate trajectory.
- Geopolitical Factors: Elevated Middle East tension and cautious optimism on economic growth continue to influence commodity flow and investor sentiment.
🪙 Precious Metals
🟡 Gold – ₹96,387 (MCX August Futures)
- Global View: Spot gold hovering near $2,345/oz, supported by lower treasury yields and risk-off sentiment.
- Technical Support: ₹95,800 / ₹95,100
- Resistance: ₹97,000 / ₹98,200
- Indicators:
- RSI: 58 – Positive Bias
- MACD: Above Signal Line
- Strategy: Buy on dips around ₹95,800 with SL ₹95,100. Immediate target ₹97,000; breakout may lead to ₹98,200.
⚪ Silver – ₹97,425 (MCX July Futures)
- Global View: Silver tracking gold’s strength and industrial demand optimism from China.
- Support Levels: ₹96,000 / ₹94,500
- Resistance: ₹98,800 / ₹100,500
- Indicators:
- RSI: 62 – Bullish
- MACD: Turning positive
- Strategy: Buy near ₹96,000 with SL ₹94,500. Target ₹98,800–₹100,500 for short term.
🛢️ Energy Pack
🟠 Crude Oil – ₹5,349 (MCX June Futures)
- Global Price: Brent crude near $79.70/bbl. Market digesting weak Chinese data vs summer fuel demand and OPEC+ commitment.
- Support: ₹5,250 / ₹5,120
- Resistance: ₹5,520 / ₹5,650
- Indicators:
- RSI: 51 – Neutral
- MACD: Flat, potential bullish crossover
- Strategy: Buy on dips toward ₹5,250 with SL ₹5,120. Upside targets at ₹5,520–₹5,650 on breakout confirmation.
🔵 Natural Gas – ₹302.30 (MCX June Futures)
- Fundamentals: Higher power usage forecast in U.S. due to warmer weather could lift demand.
- Support Zones: ₹295 / ₹285
- Resistance: ₹312 / ₹328
- Indicators:
- RSI: 55 – Mild bullish tone
- MACD: In positive territory
- Strategy: Accumulate above ₹295. Target range ₹312–₹328. SL below ₹285.
📊 Summary – Technical Levels at a Glance
| Commodity | CMP | Support Zone | Resistance Zone | Strategy |
|---|---|---|---|---|
| Gold | ₹96,387 | ₹95,800 / ₹95,100 | ₹97,000 / ₹98,200 | Buy on dips |
| Silver | ₹97,425 | ₹96,000 / ₹94,500 | ₹98,800 / ₹100,500 | Positive bias |
| Crude Oil | ₹5,349 | ₹5,250 / ₹5,120 | ₹5,520 / ₹5,650 | Range breakout expected |
| Nat. Gas | ₹302.30 | ₹295 / ₹285 | ₹312 / ₹328 | Accumulate near support |
🧠 CapitalKeeper Takeaway
Precious metals continue to shine as global uncertainties weigh on risk appetite. Crude oil hovers around key technical levels with a possible upside breakout, while natural gas shows strength amid changing weather patterns. Maintain discipline with stop-loss levels, and trade with global triggers in mind.
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