Commodity Market Today 21 Oct: Gold, Silver, Crude Levels
On this page 6 sections
In short: NSE and BSE were shut on Tuesday for Dussehra, and MCX traded only its evening session. In that session MCX gold fell 0.51% to ₹1,46,519, silver rose 0.79%, crude oil fell 1.53% and natural gas 2.95%. Overseas, international gold fell 0.42% to $4,142.6 an ounce. The dollar was quoted at 94.77 rupees in international trading (Indian currency markets were also closed).
What happened yesterday (20 October, Dussehra: MCX evening session only)
| Commodity (MCX) | Close | Change | Change (%) |
|---|---|---|---|
| Gold (Dec), ₹/10 g | 1,46,519 | −747 | −0.51% |
| Silver (Dec), ₹/kg | 2,11,485 | +1,657 | +0.79% |
| Crude oil (Nov), ₹/bbl | 9,311 | −145 | −1.53% |
| Natural gas (Oct), ₹/MMBtu | 283.2 | −8.6 | −2.95% |
| Copper (Oct), ₹/kg | 1,398.65 | +6.00 | +0.43% |
| International | Close | Change (%) |
|---|---|---|
| Gold (COMEX), $/oz | 4,142.6 | −0.42% |
| Silver (COMEX), $/oz | 58.000 | +1.80% |
| Natural gas (NYMEX), $/MMBtu | 2.963 | −3.11% |
| Copper (COMEX), $/lb | 6.6035 | +1.00% |
| US dollar / rupee (international quote) | 94.770 | −0.24% |
India (IBJA): 24-carat gold (999) ₹1,45,944 per 10 g (−0.33%) and silver (999) ₹2,08,750 per kg (−1.03%), closing rates of 19 October without GST (no rates on the Dussehra holiday).
Important news
- US stocks today: US stocks open lower as AI stocks decline, oil prices rise: Wall Street opens lower as renewed weakness in AI-linked stocks and higher oil prices weigh on the major indexes. The Dow Jones slips 0.01%, while the S&P 500 falls 0.15% and the Nasdaq drops 0.37%. Investors remain cautious ahead of major corporate earnings…
- Inflows in gold ETFs continue to be net positive for the 13th week in a row: Investors find the current level attractive as the yellow metal hovers below $4,200 an ounce with $4,000 as the floor
- US markets set to open lower as AI stocks slide and oil tops $100: Wall Street futures weakened as investors worried about rising borrowing costs and the financial risks facing AI companies, while Middle East tensions pushed crude oil prices higher.
- Nifty Outlook for October 21: Higher oil prices dampen index recovery; focus back at lower levels: The Nifty Bank too has closed very near to its near-term support zone of 55,500 and in case there happens to be sustained selling below that mark, it can take the index back down to 55,000 or even 54,500 on the downside. Any potential recovery on the upside…
- Asian refiners in dispute with Saudis over 2027 oil contracts: The disputes are a byproduct of the West Asia war, which cut exports from the region and meant that Saudi Arabia’s customers weren’t able to collect their contracted supply
- Today’s Gold Rate in India October 20: Gold prices down in Coimbatore, Nagpur, Visakhapatnam, Surat, Jaipur: 22, 24 carat Gold prices down across other cities on October 20
Intraday levels for today (21 October)
The first level on each side is the one to watch at the open.
| Commodity (MCX) | Resistance | Support |
|---|---|---|
| Gold (₹/10 g) | 1,47,319, then 1,48,119 | 1,45,750, then 1,44,981 |
| Silver (₹/kg) | 2,13,920, then 2,16,355 | 2,08,567, then 2,05,649 |
| Crude oil (₹/bbl) | 9,627, then 9,943 | 9,029, then 8,747 |
| Natural gas (₹/MMBtu) | 287.9, then 292.6 | 280.4, then 277.6 |
| Copper (₹/kg) | 1,405.20, then 1,411.75 | 1,389.70, then 1,380.75 |
International levels (in $):
| Commodity | Resistance | Support |
|---|---|---|
| Gold ($/oz) | 4,168.3, then 4,194.0 | 4,123.5, then 4,104.4 |
| Silver ($/oz) | 59.003, then 60.007 | 56.753, then 55.507 |
| Natural gas ($/MMBtu) | 3.020, then 3.078 | 2.931, then 2.900 |
How to read them: Gold's pivot is about ₹1,46,550, and the last price is below it; ₹1,47,319 is the first hurdle and ₹1,45,750 the first support. Silver's pivot is about ₹2,11,002, and the last price is above it; ₹2,13,920 is the first hurdle and ₹2,08,567 the first support. Crude oil's pivot is about ₹9,345, and the last price is below it; ₹9,627 is the first hurdle and ₹9,029 the first support. A move beyond the second level on either side usually means a trending day.
Weekly and positional levels
| Commodity | Weekly resistance | Weekly support | Positional support |
|---|---|---|---|
| Gold (₹/10 g) | 1,51,134, then 1,54,349 | 1,45,165, then 1,42,411 | 1,42,078 |
| Silver (₹/kg) | 2,22,044, then 2,32,900 | 2,04,151, then 1,97,114 | 2,09,169 |
| Crude oil (₹/bbl) | 9,911, then 10,249 | 8,926, then 8,279 | 9,051 |
| Natural gas (₹/MMBtu) | 313.4, then 328.1 | 287.8, then 276.9 | 263.8 |
| Copper (₹/kg) | 1,421.80, then 1,442.60 | 1,386.40, then 1,371.80 | 1,393.10 |
Gold is below its weekly pivot of ₹1,48,380. Silver is below its weekly pivot of ₹2,15,007.
Events to watch today
- US crude inventories (EIA): around 8:00 pm IST; a bigger-than-expected draw usually supports crude.
- Coming up: MCX natural gas contract expiry (Tuesday, 27 October): volume moves to the next month's contract around this date.
- Coming up: US Federal Reserve decision (Wednesday, 28 October), around 11:30 pm IST; rate moves shift the dollar, gold and silver.
- Rupee: a weaker rupee lifts MCX prices even when international prices are flat, and a stronger rupee does the opposite.
Pokharna Research view
Precious metals were mixed in the evening session: gold fell 0.51% while silver rose 0.79%. For today, gold ₹1,46,550 is the pivot to watch: holding above it keeps the tone firm, while a slip below ₹1,45,750 opens ₹1,44,981. Crude's range is ₹9,029–₹9,627; supply headlines can push it outside quickly.
Corrected on 21 October 2026: the first version showed MCX crude oil as unchanged (+0.00%); it fell 1.53% from the 19 October close of ₹9,456. It also described precious metals as having gained, listed the 27 and 28 October events under today, and did not mention the Dussehra holiday.
This report is educational and informational. It is not investment advice, and nothing here is a call to trade any commodity. Commodity futures are leveraged and carry high risk. Pokharna Research does not claim SEBI registration.