Commodity Market Wrap‑Up for June 10, 2025, covering today’s moves in Gold, Silver, Crude Oil, and Natural Gas, along with global drivers and actionable trading ideas.
By CapitalKeeper | Market Opening | Indian Commodities | Market Moves That Matter
🟡 Gold — Sharp Pullback on Strong USD & Trade Optimism
- Current Price (India): ₹96,990 per 10 g
- Global Cue: MCX gold futures plunged ₹2,800/10 g amid renewed optimism in US‑China trade talks
- Behind the Move: A stronger U.S. dollar (+0.3%) and thawing trade tensions pressured safe‑haven demand
- Technical Tip: With support at $3,280–$3,310 and resistance at $3,325–$3,400 per oz traders should await a breakout above the lower bound for a resumption of the rally, or consider range‑trading intraday.
⚪ Silver — Slight Dip Following Recent Rally
- Current Price: ₹1,06,180 per kg
- Global Cue: Silver dropped ~0.5% to $36.52/oz as investors paused after recent gains, partly due to rising USD .
- Technical Setup: Watch support at ₹1,04,800–₹1,06,160 and resistance near ₹1,08,000–₹1,09,650 on MCX.
- Trading Technique: Consider a short‑term bounce trade near support, with stops below ₹1,05,000.
🛢️ Crude Oil — Steady Amid Mixed Supply/Demand Signals
- Current Price: ₹5,640 per barrel
- Global Cue: U.S. EIA forecasts Brent at ~$62/b in H2‑25, expecting supply to outpace demand.
- Technical Insight: Prices remain range‑bound; watch for a break of $66 for upside momentum.
- Trading Technique: Use range trading, shorting rallies near higher range and buying dips near ₹5,600–₹5,580.
🔵 Natural Gas — Cooling Slightly on Balanced Fundamentals
- Current Price: ₹304.80 per MMBtu
- Global Cue: Henry Hub futures fell to ~$3.60 on storage builds and warm early spring weather.
- Outlook: EIA forecasts rising gas prices later in summer due to LNG exports and demand.
- Trading Technique: Opt for mean reversion trades, buying near ₹300 if technicals stabilize, aiming for ₹315–₹320 on rebounds.
🌍 Global Cues in Focus
- US‑China Trade Talks: Positive progress weakened gold and silver, with traders awaiting firm outcomes.
- USD Strength: A firmer dollar pressured precious metals, acting as a catalyst for the current pullback .
- Supply Outlook: EIA anticipates global crude oversupply later in the year , while rising LNG exports will likely support gas prices through summer .
📊 Quick Trade Ideas
| Commodity | Setup | Strategy |
|---|---|---|
| Gold | Pullback to support | Buy near ₹96,500 with SL ~₹96,200; aim for ₹97,500–₹98,200 |
| Silver | Consolidation around support | Long near ₹1,05,000; target ₹1,07,000–₹1,08,000 |
| Crude Oil | Range-bound in ₹5,580–₹5,700 | Short rallies; buy dips in range |
| Natural Gas | Mean reversion near ₹300–₹305 | Buy dips; target ₹315 on technical confirmation |
🔍 Summary:
Today’s action has been dominated by dollar strength and easing trade tensions, leading to pullbacks in gold and silver. Crude and natural gas remain grounded in mixed supply/demand dynamics, with range-bound opportunities ahead.
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