Commodity Market Today 9 Nov: Gold, Silver, Crude Levels
On this page 6 sections
In short: In the last session, MCX gold rose 0.27% to ₹1,42,552, silver rose 0.17%, crude rose 1.12%, natural gas rose 0.49%. Overseas, international gold fell 0.94% to $4,074.9 an ounce and Brent crude was flat to $98.32 a barrel. The rupee closed at 93.89 per dollar (stronger by 56 paise).
What happened yesterday (6 November)
| Commodity (MCX) | Close | Change | Change (%) |
|---|---|---|---|
| Gold (Dec), ₹/10 g | 1,42,552 | +385 | +0.27% |
| Silver (Dec), ₹/kg | 1,85,100 | +313 | +0.17% |
| Crude oil (Nov), ₹/bbl | 8,554 | +95 | +1.12% |
| Natural gas (Nov), ₹/MMBtu | 285.0 | +1.4 | +0.49% |
| Copper (Nov), ₹/kg | 1,339.35 | +0.05 | +0.00% |
| International | Close | Change (%) |
|---|---|---|
| Gold (COMEX), $/oz | 4,074.9 | −0.94% |
| Silver (COMEX), $/oz | 51.942 | −0.56% |
| Crude oil WTI (NYMEX), $/bbl | 90.83 | +0.34% |
| Crude oil Brent (ICE), $/bbl | 98.32 | +0.03% |
| Natural gas (NYMEX), $/MMBtu | 2.998 | +1.73% |
| Copper (COMEX), $/lb | 6.2375 | −0.18% |
| US dollar / rupee | 93.895 | −0.60% |
India (IBJA): 24-carat gold (999) ₹1,41,452 per 10 g (−1.86%) and silver (999) ₹1,82,868 per kg (−2.37%), closing rates of 6 November without GST.
Important news
- Gold Jewellery vs Gold ETF vs Gold Fund: Which Is Better For Your Money?: Gold jewellery, Gold ETFs or Gold Mutual Funds? Understand the costs, benefits and differences with a simple ₹1 lakh investment example to choose the right option for your financial goals.
- Gulf On Edge: Blasts Hit Iran's Hormuz Coast, US Disables Cargo Ship As Houthis Target Aramco: Iran's Revolutionary Guards say two tankers struck mines near Hormuz. Yemen's Houthis claim strikes on Saudi oil sites and Riyadh airport. The flare-ups come just after Brent's sharpest weekly fall in years.
Intraday levels for today (9 November)
The first level on each side is the one to watch at the open.
| Commodity (MCX) | Resistance | Support |
|---|---|---|
| Gold (₹/10 g) | 1,42,780, then 1,43,009 | 1,42,243, then 1,41,935 |
| Silver (₹/kg) | 1,85,359, then 1,85,619 | 1,84,820, then 1,84,541 |
| Crude oil (₹/bbl) | 8,607, then 8,661 | 8,488, then 8,423 |
| Natural gas (₹/MMBtu) | 287.0, then 288.9 | 281.7, then 278.3 |
| Copper (₹/kg) | 1,343.15, then 1,346.95 | 1,335.40, then 1,331.45 |
International levels (in $):
| Commodity | Resistance | Support |
|---|---|---|
| Gold ($/oz) | 4,115.7, then 4,156.5 | 4,034.6, then 3,994.3 |
| Silver ($/oz) | 52.478, then 53.014 | 51.303, then 50.664 |
| Crude oil WTI ($/bbl) | 92.55, then 94.27 | 89.09, then 87.35 |
| Crude oil Brent ($/bbl) | 100.61, then 102.90 | 96.34, then 94.36 |
| Natural gas ($/MMBtu) | 3.052, then 3.106 | 2.932, then 2.866 |
How to read them: Gold's pivot is about ₹1,42,472, and the last price is above it; ₹1,42,780 is the first hurdle and ₹1,42,243 the first support. Silver's pivot is about ₹1,85,080, and the last price is above it; ₹1,85,359 is the first hurdle and ₹1,84,820 the first support. Crude oil's pivot is about ₹8,542, and the last price is above it; ₹8,607 is the first hurdle and ₹8,488 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) | 1,46,486, then 1,50,421 | 1,38,240, then 1,33,929 | 1,33,923 |
| Silver (₹/kg) | 1,92,280, then 1,99,461 | 1,76,585, then 1,68,071 | 1,62,402 |
| Crude oil (₹/bbl) | 9,382, then 10,209 | 7,959, then 7,363 | 7,848 |
| Natural gas (₹/MMBtu) | 290.8, then 296.6 | 275.2, then 265.4 | 277.8 |
| Copper (₹/kg) | 1,379.40, then 1,419.45 | 1,313.35, then 1,287.35 | 1,334.77 |
Gold is above its weekly pivot of ₹1,42,175. Silver is above its weekly pivot of ₹1,83,766.
Events to watch today
- 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 gained in the last session, with the rupee stronger at 93.89. For today, gold ₹1,42,472 is the pivot to watch: holding above it keeps the tone firm, while a slip below ₹1,42,243 opens ₹1,41,935. Crude's range is ₹8,488–₹8,607, with Brent at $98.32; supply headlines can push it outside quickly.
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.