Commodities Market Live

U.S. crude oil inventories contracted by 900,000 barrels during the week concluded October 30, the U.S. Energy Information Administration (EIA) reported Wednesday. The decline positioned commercial stockpiles at 409.8 million barrels, according to government data, representing a 4% deficit relative to the five-year average for the corresponding period. Total motor gasoline inventories decreased by 200,000 barrels, reversing a prior increase of 3.9 million barrels in the week preceding. Recent data indicated an uptick in average daily gasoline production to 9.7 million barrels.

The total open interest of MCX Copper futures for Nov-26 stood at 7164 lots as on 10.45 PM PM today compared to 6425 lots in last session. This accounted for a strong upward move of 11.50% on the day. Total traded volume is 9112 lots, sharply lower by 25.81% on the day.

The total open interest of MCX Crude oil futures for Nov-26 stood at 8595 lots as on 10.30 PM PM today compared to 10479 lots in last session. This accounted for a sharp slide of 17.98% on the day. Total traded volume is 56815 lots, significantly lower by 33.08% on the day.

The total open interest of MCX Gold futures for Dec-26 stood at 15841 lots as on 10.15 PM PM today compared to 16036 lots in last session. This accounted for a modest dip of 1.22% on the day. Total traded volume is 8741 lots, down slightly by 3.35% on the day.

MCX Copper futures are are in negative territory, lower by 0.83% at Rs 1357 per kg right now. The counter was down 0.54% in the day session till 6.00 PM. MCX Copper futures touched an intraday low of Rs 1375 per kg today and have seen a sharp increase of 6.69% in the open interest. US equities are sliding sharply with Dow Jones Industrial Average is slumping 2.10% on the day.MCX Copper is lower for two consecutive session.

In other metals, Nickel is up sharply by 2.01% at Rs 1530 per kg, Aluminium is marginally higher by 0.62% at Rs 330 per kg, Lead is slightly higher by 0.21% at Rs 195 per kg while Zinc is marginally lower by 0.34% at Rs 414 per kg.

Copper has eased around 2.74% in the last one week followed by MCX Zinc, down around 0.53%.

MCX Crude Oil futures are under strong buying support today in evening trades. The benchmark MCX Nov-26 contract is sharply higher by 1.66% at Rs 8503 per barrel. US equities are tumbling with Dow Jones Industrial Average is declining 1.45% on the day. MCX Crude Oil futures hit a high of Rs 8560 per barrel today and have witnessed a significant 16.61% decrease in open interest. MCX Crude oil rises up for third consecutive session. The counter edged higher by 0.59% in the day session till 6.00 PM.

MCX Natural Gas is slightly lower by 0.64% at Rs 280 per MMBtu. The counter moved in a range of Rs 277-282 per MMBtu today. The open interest in the counter gained modestly by 1.10%.

Crude Oil has tumbled 14.64% in the last one week while Natural Gas has eased around 3.68%.

MCX Gold futures are trading with gains today. The benchmark Dec-26 contract is higher by 1.19% at Rs 144939 per 10 grams. The intraday range was Rs 144555-146109 per 10 grams.The counter has slipped slightly by 0.33% over last one-week. The metal advanced by 2.71% in last session.

Silver is up 0.20% at Rs 188112 per kg. The open interest in the counter edged lower by 0.57% to 17116 lots.

In global equities, US markets are likely to open on a positive note. DOW futures have moved up 0.71%. In Europe, CAC 40 added 0.99% and FTSE 100 inched higher 0.66%.

MCX Copper futures are slightly lower by 0.16% at Rs 1366 per kg.

The US dollar index retreated toward the 101 level, probing a one-month trough in present trading and presently hovering around 101.40, virtually unchanged for the session. The dollar`s decline tracked a contraction in US Treasury yields, which fell on Wednesday in the wake of the Democratic party’s decisive victory in the US midterm elections. Investors are assessing the political realignment that spurred a significant downturn in crude oil prices as Democrats secured control of the House of Representatives and the Senate, fostering expectations of a swift resolution to the ongoing US-Iran conflict. The dollar index demonstrates volatility in advance of several pivotal releases. Traders will monitor addresses from several US Federal Reserve officials later today and will be closely observing the US nonfarm payrolls report tomorrow.

October witnessed a 5.4% upswing in new car registrations in the United Kingdom, according to a report released Thursday by the Society of Motor Manufacturers and Traders (SMMT).

Total registrations reached 152,730 units, comprised of 56,876 gasoline-powered vehicles and 48,858 registrations for battery electric vehicles (BEVs). BEV registrations advanced by 32.7% compared to the same month a year prior, while plug-in hybrid vehicles (PHEVs) demonstrated growth of 30.1%. Registrations of diesel cars declined 15.9% year-over-year.

Nearly one in three new vehicles registered in October exhibited electric powertrains – a significant advancement in the electrification transition, albeit one incurring substantial financial implications. The automotive sector and government entities are allocating billions to facilitate consumer adoption of electric vehicles, but the continuation of such subsidies faces limitations, with the shortfall relative to projected targets anticipated to exceed double the current deficit by 2028, coinciding with the implementation of a novel electric vehicle-specific levy, the report indicated.

Producer prices in the Eurozone increased 2.5% in September compared to August, while across the broader European Union, the index advanced 2.6% month-over-month, according to a report published Thursday by Eurostat, the statistical office of the European Commission. On a year-over-year basis, the figure ascended 11.1% in the euro area and 10.9% in the EU.

The Eurozone’s energy prices advanced 7.8% on a month-on-month basis, with durable consumer goods exhibiting a rise of 0.3%, while non-durable consumer goods and intermediate goods both registered increases of 0.2%, and capital goods prices were up by 0.1%.

Energy prices in the euro area registered a substantial annual increase of 30.8%, year-on-year, while intermediate goods saw a rise of 7.1%, durable consumer goods advanced 3.4%, and capital goods increased by 2.7%. Producer prices for non-durable consumer goods declined by 0.6%.

Gold futures advanced for a second straight day on Thursday, breaching the $4,000 per ounce level to reach a two-week high, underpinned by optimism surrounding a potential resolution to the US-Iran conflict following Democratic gains in the US midterm elections. A concurrent decline in crude oil prices, alongside a weaker US dollar and decreasing Treasury yields, amplified bullion`s attractiveness. The US dollar index retreated to approximately 101.3, building on the prior session’s depreciation. In the domestic market, MCX December gold futures increased 1.3% to Rs 1,45,100 per 10 grams. The recent pullback in domestic gold prices has also spurred a resurgence in festive demand, with consumers exhibiting a preference for lightweight jewelry and smaller-value acquisitions in advance of Dhanteras on November 6. Market participants are now focused on Friday`s US employment report for insights into the Federal Reserve’s monetary policy stance.

Germany’s factory orders advanced 4.4% in September compared to August, after seasonal and price adjustments, according to data released Thursday by the Federal Statistical Office Destatis. Year-over-year, new orders increased by 3.3%.

The expansion in manufacturing orders reflected a substantial upswing in new orders within the automotive sector, which advanced 10.5% month-over-month. New orders for consumer goods demonstrated a notable increase of 14.4%, while capital goods orders registered a rise of 5.3%, and intermediate goods orders increased 0.5% during the stated period.

Domestic orders exhibited a month-over-month expansion of 6.6%, with foreign orders advancing 2.8%, attributable to a 4.5% increase in orders from the euro area and a 1.6% rise in orders from regions outside the Eurozone.

WTI crude oil continued its pronounced decline on Thursday, descending toward $86 per barrel in Asian trade following a drop of almost 9% in the prior session, as markets evaluated the prospective ramifications of the Democrats’ comprehensive victory in the US midterm elections. The election results amplified anticipations that increasing political pressure on the Trump administration may expedite initiatives to conclude the war with Iran through a negotiated resolution, alleviating anxieties regarding protracted supply interruptions. Vice President JD Vance recognized voter discontent concerning the conflict as a contributing factor behind the Republicans’ lackluster showing, while Democratic Senate Minority Leader Chuck Schumer committed to advocating for a swift end to the war. Oil futures have now decreased by more than 15% during November, unwinding October’s 15% advance. On the domestic front, MCX November crude oil futures were trading approximately 2% lower at Rs 8,217 per barrel.

Mining giant Freeport, trading as FCX, revealed that its Board of Directors authorized a $4.5 billion expansion and modernization initiative for its wholly owned Bagdad copper and molybdenum asset in northwest Arizona. The brownfield project aims to realize the resource’s full potential and is anticipated to more than double Bagdad’s mining and milling rates. This investment is projected to elevate annual long-term copper production to over 400 million pounds per annum (an incremental output of roughly 225 million pounds per annum) and molybdenum production to over 20 million pounds per annum (an incremental output of 12 million pounds per annum). Freeport intends to implement advanced technologies, automation, and capitalize on existing infrastructure to enhance Bagdad’s long-term cost structure and operational performance. The expansion would establish Bagdad as the second-largest copper mine in the US, trailing behind FCX’s Morenci operation, alongside a leading US molybdenum producer and one of the lowest-cost operations within FCX’s US holdings.

Base metals exhibited erratic trading patterns during the session, although Nickel demonstrated a significant upward trajectory. MCX Copper futures are valued at Rs 1367 per kg, reflecting a 0.08% decline on the day, with intraday peaks around the Rs 1375 per kg level restricting gains. MCX Aluminium futures advanced 0.53% to Rs 330 per kg. MCX Zinc futures increased 0.55% to trade at Rs 417.30 per kg. MCX Lead futures retreated 0.08% to trade at Rs 194.80 per kg. MCX Nickel futures for Nov-26 registered a substantial rally, surging 2.66% to trade at Rs 1539.70 per kg.

LME Zinc inventories experienced a marked decline in the previous session. Stockpiles on the exchange decreased by 3900 tonnes, settling at 150450 tonnes on Wednesday, which represents a three-week low. Inventories are trending downward following a peak near a one and half year high last month.

The Bank of Japan may be transitioning toward a more adaptable strategy for monetary policy adjustments, as indicated by meeting minutes from September disclosed Thursday, with officials now considering the magnitude of forthcoming interest rate adjustments instead of adhering to predetermined 0.25 percentage point steps. Multiple policymakers cautioned that inflation has the potential to surpass the Bank of Japan’s 2% target and endorsed additional rate increases, while underscoring the necessity of a responsive posture to both domestic and international economic conditions. The BOJ elevated its policy rate to 1.25% from 1.0% in September prior to maintaining it at its October session. Disparate views among committee members regarding the timeline for continued policy restraint have fueled market expectations for another rate adjustment at the December 17–18 meeting.

Australia registered a trade surplus in September, amounting to 2.826 million Australian dollars ($1.99 billion), as detailed in a report released Thursday by the Australian Bureau of Statistics.

The figure decreased from the 495 million Australian-dollar surplus recorded in August.

Exports rose 2.3%, propelled by other mineral fuels and metals, while imports declined 3.3%, primarily attributable to non-monetary gold, civil aircraft, and confidentialised items.

Japan’s service sector sustained its expansion in October, as indicated by a S&P Global report released on Thursday, which showed the S&P Global Japan Services PMI at 51.7.

The seasonally adjusted reading retreated from the 52.0 recorded in September but maintained a position above the 50-point threshold, indicating ongoing sector expansion.

WTI Crude Oil futures declined for the second consecutive day on Thursday, trading just below $87 per barrel during the Asian session and proximate to a near one-month low following last session’s nearly nine percent decline.

MCX Gold futures for Dec-26 moved higher today. The counter currently trades up 1.33% at Rs 1,45,138 per 10 grams with a 0.27% drop in open interest.

In other commodities, MCX Crude oil futures for Nov-26 ended up 0.29% to trade at Rs 8,388 per barrel.

MCX Nov-26 Copper futures softened 0.12% to trade at Rs 1,366 per kg.

MCX Natural Gas futures for Nov-26 are easing 0.96% at Rs 279 per mmbtu with a 3.22% uptick in open interest.

Copper futures maintained a relatively stable position following a recovery from near the month`s low, as major U.S. stock indexes registered substantial gains. The industrial metal is currently valued at $6.45 per pound, reflecting a 0.25% increase on the day. Equities relinquished some gains toward the close of trading but concluded the session significantly higher; the Dow climbed 1,569.40 points, or 3 percent, to 53,356.12, the S&P 500 advanced 119.70 points, or 1.6 percent, to 7,688.62, and the Nasdaq rose 364.50 points, or 1.4 percent, to 25,736.51.

COMEX gold and silver continued their advance Thursday morning in Asia, spurred by the Democrats’ victory in the US midterm elections. The Democratic sweep in the US midterm elections weakened the US Dollar (USD) to over a one-month low on Wednesday, enhancing gold`s attractiveness. A pronounced move in crude oil prices is also seen to support precious metals. Market participants will, however, scrutinize the US September employment data later Friday for indications regarding the interest rate trajectory. The yellow metal is presently valued at $4146.60 an ounce, registering a 1.81% daily increase, while silver is up 1.77% at $53.21 per ounce.

Private payrolls in the United States advanced by 86,000 in October versus September, the ADP National Employment Report indicated on Wednesday. The reported figure exceeded consensus forecasts. Within the goods-producing sector, construction demonstrated an increase of 13,000 positions, while natural resources and mining experienced a decline of 8,000 and manufacturing decreased by 1,000. The services sector saw payrolls rise by 39,000 in trade, transportation, and utilities, with education and health services adding 28,000 and leisure and hospitality contributing 19,000. Professional and business services registered the largest payroll reduction in October, with a decrease of 27,000.

The Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey, released Wednesday, indicated that mortgage applications in the United States decreased 1.2% for the week concluding October 30.

The average contract interest rate for 30-year fixed-rate mortgages declined from 7.37% to 7.3% during the reported week. Refinance applications exhibited negligible movement, rising 0.1% while remaining 60% below levels recorded during the corresponding week a year ago. Purchase applications were 2% lower week-over-week and 19% lower on a year-over-year basis.

The U.S. trade deficit in goods and services narrowed by $0.7 billion, a decrease of 13.7%, to $105 billion in September, according to a report released on Wednesday by the Census Bureau and the Bureau of Economic Analysis (BEA). August’s deficit was revised downward to $105.7 billion.

US exports increased by 1.9%, equating to a $5.8 billion monthly rise, reaching $321.5 billion. Concurrently, imports advanced by 1.2%, representing a $5.2 billion increase, to $426.6 billion.

During the first nine months of 2026, the aggregate trade deficit narrowed by 12.2%, representing a reduction of $92.4 billion when compared to the corresponding period in 2025. Exports rose by 11.6%, equating to $297.3 billion, whereas imports expanded by 65.2%, totaling $204.9 billion.

The S&P Global’s final report on Wednesday indicated that the United States PMI Composite Output Index, reflecting combined services and manufacturing business activity, registered 55.9 in October, a decrease from the 58.4 reported in May. The Services PMI Business Activity Index was recorded at 56.1 for the cited month, receding from the 58.8 seen in the prior month while still signaling expansion.

NCDEX Guarseed futures ticked lower 0.05% at Rs 8314 per quintal today. The counter eased by around 0.05% in last three-sessions. Open interest in the futures edged higher by 1.66% today and has jumped by 42.52% in last one week. Spot Guarseed edged down 0.07% to Rs 8133.45 per quintal today and spiked around 19.35% over last one-month.It has rallied by around 69.85% in last one year.

Growth in the United States services sector persisted in October, according to data released Wednesday by the Institute for Supply Management (ISM). The ISM Services Purchasing Managers` Index (PMI) registered at 54.5% for October, a decline of 0.4 percentage points from the previous month.

The Business Activity Index registered a decrease of 2.7 percentage points, settling at 53.8%, as the New Orders Index decreased by 3.9 percentage points to 55.9%. The Employment Index advanced by 1.3 percentage points to 51.4%, maintaining its position in expansion territory. The Prices Index contracted by 1 percentage point to 73%.

NCDEX Turmeric futures surged 4.68% at Rs 27580 per quintal today. The counter zoomed up around 4.68% in last three-sessions. Open interest in the futures climbed by 2.18% today and has risen slightly by 1.36% in last one week. Spot Turmeric remained flat to Rs 24954.1 per quintal today and soared by around 17.33% over last one-month.It has soared by around 71% in last one year.

NCDEX Coriander futures soared 3.26% at Rs 16284 per quintal today. The counter jumped around 3.26% in last three-sessions. Open interest in the futures fell by 2.37% today and has edged lower by 0.67% in last one week.

NCDEX Guar gum futures jumped 1.79% at Rs 16626 per quintal today. The counter climbed around 1.79% in last three-sessions. Open interest in the futures surged by 4.62% today and has surged by 43.47% in last one week.

NCDEX Jeera futures spiked 1.75% at Rs 28140 per quintal today. The counter advanced by around 1.75% in last three-sessions. Open interest in the futures spiked by 25.32% today and has soared by 69.49% in last one week.

NCDEX Castor futures advanced 1.21% at Rs 8430 per quintal today. The counter inched up around 1.21% in last three-sessions. Open interest in the futures tumbled by 6.06% today and has slumped by 20.91% in last one week.

NCDEX Pepper futures ticked higher 0.79% at Rs 786 per quintal today. The counter edged up around 0.79% in last three-sessions. Open interest in the futures soared by 19.30% today and has rallied sharply by 23.64% in last one week.

NCDEX Cotton seed oilcake futures rose slightly 0.43% at Rs 3710 per quintal today. The counter increased by around 0.43% in last three-sessions. Open interest in the futures rose by 2.96% today and has jumped by 12.85% in last one week.

NCDEX Guarseed futures edged higher 0.38% at Rs 8350 per quintal today. The counter rose by nearly 0.38% in last three-sessions. Open interest in the futures rose slightly by 1.15% today and has spiked by 41.80% in last one week.

MCX Gold futures for Dec-26 ended up today. The counter had gained 1.28% on the day yesterday to close at Rs 1,43,234 per 10 grams. It opened at Rs 1,45,780 per 10 grams today and currently trades up 1.28% at Rs 1,45,070 per 10 grams with a 0.59% dip in open interest.

MCX Silver futures for Dec-26 are up 0.64% at Rs 1,88,939 per kg after rising by 0.64% in last session.

NCDEX Guar gum futures surged 1.75% at Rs 16620 per quintal today. The counter zoomed up around 1.75% in last three-sessions. Open interest in the futures inched up by 1.37% today and has soared by 39.01% in last one week.

NCDEX Jeera futures climbed 1.19% at Rs 27570 per quintal today. The counter moved up around 1.19% in last three-sessions. Open interest in the futures inched lower by 1.11% today and has dropped sharply by 16.79% in last one week.

NCDEX Turmeric futures gained 1.11% at Rs 26640 per quintal today. The counter edged up around 1.11% in last three-sessions. Open interest in the futures edged higher by 0.03% today and has inched lower by 0.78% in last one week.

NCDEX Guarseed futures moved higher 1% at Rs 8401 per quintal today. The counter rose by nearly 1% in last three-sessions. Open interest in the futures is down slightly by 0.70% today and has rallied sharply by 39.21% in last one week.

NCDEX Cotton seed oilcake futures advanced 0.87% at Rs 3726 per quintal today. The counter inched up around 0.87% in last three-sessions. Open interest in the futures surged by 3.46% today and has spiked by 13.40% in last one week.

NCDEX Coriander futures rose 0.82% at Rs 15900 per quintal today. The counter gained approximately 0.82% in last three-sessions. Open interest in the futures eased by 0.18% today and has inched higher by 1.56% in last one week.

NCDEX Castor futures ticked higher 0.50% at Rs 8371 per quintal today. The counter increased by around 0.50% in last three-sessions. Open interest in the futures ticked lower by 0.87% today and has tumbled by 16.54% in last one week.

NCDEX Pepper futures rose slightly 0.42% at Rs 783 per quintal today. The counter moved up around 0.42% in last three-sessions. Open interest in the futures rallied sharply by 4.39% today and has jumped by 8.18% in last one week.

MCX Zinc futures closed slightly higher by 0.91% at Rs 415.0 per kg in last session. The open interest in the counter recorded a decline of 6.08%.Volume recorded a decline of 15.96%. The counter has recorded a slight decline of 1.43% in last one-week.

MCX iCOMDEX Zinc index increased by 0.02% to end at 42908.89.

MCX Zinc PE option for Rs 400, fell sharply by 13.84% at Rs 3.86 in last session.

Based on yesterday’s closing prices, here are the daily pivot levels for the MCX Nov-26 Zinc futures.

S1: 409.85

S2: 404.7

PP: 413.65

R1: 418.8

R2: 422.6

MCX Silver futures closed sharply higher by 4.52% at Rs 187812.0 per kg in last session. The open interest in the counter increased by 2.18%.Volume climbed sharply by 29.86%. The counter is marginally lower by 7.53% in last one-week.

MCX iCOMDEX Silver index edged up by 0.01% to end at 19923.95. The index has edged down by 8.56% in last one-week and has registered a drop of 20.33% in last one-month.

MCX Silver PE option for Rs 170000, tumbled 56.98% at Rs 1526.50 in last session.

Based on yesterday’s closing prices, here are the daily pivot levels for the MCX Dec-26 Silver futures.

S1: 180941.33

S2: 174070.67

PP: 184470.67

R1: 191341.33

R2: 194870.67

MCX Natural gas futures finished higher by 2.48% at Rs 281.4 per MMBtu in last session. The open interest in the counter declined by 1.55%.Volume registered a rise of 18.45%. The counter is slightly lower by 6.31% in last one-week.

MCX iCOMDEX Natural gas index lost 0.04% to end at 631.0. has eased by 13.86% in last one-month.

MCX Natural gas CE option for Rs 300, soared 13.45% at Rs 9.70 in last session.

Based on yesterday’s closing prices, here are the daily pivot levels for the MCX Nov-26 Natural gas futures.

S1: 273.87

S2: 266.33

PP: 278.73

R1: 286.27

R2: 291.13

MCX Lead futures finished slightly higher by 0.36% at Rs 194.9 per kg in last session. The open interest in the counter edged up by 2.69%.Volume rose sharply by 48.97%. The counter has eased by 1.57% in last one-week.

MCX iCOMDEX Lead index moved up by 0.03% to end at 8730.56.

Based on yesterday’s closing prices, here are the daily pivot levels for the MCX Nov-26 Lead futures.

S1: 193.98

S2: 193.07

PP: 194.77

R1: 195.68

R2: 196.47

MCX Gold futures ended sharply higher by 2.72% at Rs 143251.0 per 10 gram in last session. The open interest in the counter declined by 1.60%.Volume moved higher by 16.17%. The counter has slipped by 2.96% in last one-week.

MCX iCOMDEX Gold index edged lower by 0.04% to end at 33337.16.

MCX Gold PE option for Rs 120000, slid 47.70% at Rs 91 in last session.

Based on yesterday’s closing prices, here are the daily pivot levels for the MCX Dec-26 Gold futures.

S1: 140478.67

S2: 137706.33

PP: 141949.33

R1: 144721.67

R2: 146192.33

MCX Crude oil futures tumbled 7.73% at Rs 8400.0 per barrel in last session. The open interest in the counter recorded a modest increase of 4.24%.Volume moved up by 6.88%. The counter has slipped by 7.08% in last one-week.

MCX iCOMDEX Crude oil index saw a slight decline of 0.05% to end at 14884.6.

MCX Crude oil CE option for Rs 9000, moved sharply lower 61.53% at Rs 188.30 in last session.

Based on yesterday’s closing prices, here are the daily pivot levels for the MCX Nov-26 Crude oil futures.

S1: 8024.33

S2: 7648.67

PP: 8606.67

R1: 8982.33

R2: 9564.67

MCX Copper futures ended slightly higher by 0.22% at Rs 1368.45 per kg in last session. The open interest in the counter saw a slight rise of 0.48%.Volume was higher by 10.80%. The counter is slightly lower by 2.93% in last one-week.

MCX iCOMDEX Copper index lost 0.03% to end at 19916.98.

MCX Copper CE option for Rs 1400, moved slightly lower 0.92% at Rs 12.96 in last session.

Based on yesterday’s closing prices, here are the daily pivot levels for the MCX Nov-26 Copper futures.

S1: 1348.5

S2: 1328.55

PP: 1361.45

R1: 1381.4

R2: 1394.35

MCX Aluminium futures ended slightly higher by 0.52% at Rs 328.25 per kg in last session. The open interest in the counter witnessed a drop of 5.85%.Volume posted steep losses of 22.92%. The counter is down around 1.14% in last one-week.

MCX iCOMDEX Aluminium index posted a slight decline of 0.02% to end at 15473.06.

Based on yesterday’s closing prices, here are the daily pivot levels for the MCX Nov-26 Aluminium futures.

S1: 325.07

S2: 321.88

PP: 327.53

R1: 330.72

R2: 333.18

The total open interest of MCX Copper futures for Nov-26 stood at 6591 lots as on 10.45 PM PM today compared to 6394 lots in last session. This accounted for a marginal advance of 3.08% on the day. Total traded volume is 11467 lots, up modestly by 3.45% on the day.

The total open interest of MCX Crude oil futures for Nov-26 stood at 10531 lots as on 10.30 PM PM today compared to 10053 lots in last session. This accounted for a modest gain of 4.75% on the day. Total traded volume is 59358 lots, down sharply by 25.27% on the day.

The total open interest of MCX Gold futures for Dec-26 stood at 15914 lots as on 10.15 PM PM today compared to 16296 lots in last session. This accounted for a small drop of 2.34% on the day. Total traded volume is 7974 lots, marginally higher by 2.43% on the day.

MCX Copper futures are are trading on a weak note, down 0.13% at Rs 1364 per kg right now. The counter was marginally lower by 0.49% in the day session till 6.00 PM. MCX Copper futures touched an intraday low of Rs 1374 per kg today and have recorded a rise of 2.77% in the open interest. US equities are soaring with Dow Jones Industrial Average is soaring 2.62% on the day.MCX Copper is down for fourth consecutive session.

In other metals, Nickel is higher by 1.77% at Rs 1499 per kg, Zinc is marginally higher by 0.51% at Rs 413 per kg, Lead is trading slightly higher by 0.33% at Rs 195 per kg while Aluminium is marginally higher by 0.26% at Rs 327 per kg.

Copper has edged lower by 2.84% in the last one week followed by MCX Zinc, which is down around 1.86%.

MCX Crude Oil futures are trading with steep losses today in evening trades. The benchmark MCX Nov-26 contract is substantially lower by 2.26% at Rs 8898 per barrel. US equities are trading firmly higher with NASDAQ Composite is jumping 2.17% on the day. MCX Crude Oil futures hit a high of Rs 9189 per barrel today and have recorded a strong rise of 5.66% in open interest. MCX Crude oil is declining for two consecutive session. The counter edged lower by 0.74% in the day session till 6.00 PM.

MCX Natural Gas is trading marginally higher by 0.25% at Rs 275 per MMBtu. The counter moved in a range of Rs 271-279 per MMBtu today. The open interest in the counter rose by 2.40%.

Natural Gas has edged lower by 4.79% in the last one week while Crude Oil has eased around 4.15%.

MCX Gold futures are trading with strong gains today. The benchmark Dec-26 contract is sharply higher by 2.27% at Rs 142615 per 10 grams. The intraday range was Rs 139177-143090 per 10 grams.The counter has contracted 3.25% over last one-week.The open interest in the counter fell by 2.26% to 15928 lots.

Silver is substantially higher by 3.95% at Rs 186794 per kg. The open interest in the counter moved higher by 1.22% to 17052 lots. The metal declined by 2.22% in last session.

In global equities, US markets are expected to open in green. DOW futures surged 1.62%. In Europe, CAC 40 soared 1.63% and FTSE 100 gained 1.58%.

MCX Copper futures are up 0.22% at Rs 1368 per kg.

COMEX Copper futures advanced in choppy sessions amid sustained risk appetite. Traders evaluated the results of the US midterm elections, where Democrats gained control of both houses of Congress. COMEX Copper is presently up 0.73% at $6.45 per pound, rebounding from a three-month trough. MCX Copper futures are up 0.20% at Rs 1368.15 per kg after reaching highs above Rs 1374 per kg. In Asian markets, China’s Shanghai Composite Index increased 2.16%. Hong Kong’s Hang Seng index climbed 1.67%. Japan’s Nikkei 225 Index declined approximately 1.40%. European equities registered substantial advances, with Germany’s DAX index advancing more than 1%. US equities concluded Tuesday on a mixed basis as advances in semiconductor companies facilitated the S&P 500’s termination of a three-day downtrend.

MCX Gold futures for Dec-26 moved higher today. The counter currently trades up 2.29% at Rs 1,42,644 per 10 grams with a 1.72% fall in open interest.

In other commodities, MCX Crude oil futures for Nov-26 declined 0.71% to trade at Rs 9,039 per barrel.

MCX Nov-26 Copper futures saw a gain of 0.40% to trade at Rs 1,370 per kg.

MCX Natural Gas futures for Nov-26 are higher by 0.69% at Rs 276 per mmbtu with a 1.08% expansion in open interest.

The preliminary report released on Wednesday by Eurostat, the statistical office of the European Commission, indicated that the annual inflation rate in the Eurozone is projected to reach 4% for October, consistent with prevailing forecasts and an increase from the 3.8% recorded in September.

The anticipated increase is ascribed to escalating energy costs, forecast to surge by 20.8% year-on-year. Contributing elements also encompass services, food, alcohol and tobacco, and non-energy industrial goods, with prices anticipated to increase by 3.3%, 1.6%, and 1.2%, respectively.

The most substantial increases in inflation were recorded in Bulgaria at 6%, and in Greece and Italy at 5.6%. The most modest advances were observed in Malta at 2.3%, Germany at 2.8%, and Slovakia at 2.9%.

The Purchasing Managers’ Index (PMI) Composite Output Index for the United Kingdom’s private sector demonstrated an increase in October, advancing from 52 in September to 52.9, according to S&P Global’s final report released on Wednesday.

The Services PMI Business Activity Index registered an increase during the month in question, climbing from 52.1 in the prior month to 52.8 in October, although it fell short of the initial estimate. Business optimism also saw an uptick from September, attaining the highest level since February.

A marginal contraction in activity within Germany’s services sector was observed in October, S&P Global reported on Wednesday. The services Purchasing Managers` Index (PMI) decreased by 0.4 points from September to 52.5, surpassing the initial estimate of 51.7. New business softened, with firms drawing on existing backlogs, while workforce levels contracted for the first time since July. Input price inflation persisted at an elevated level, driven by the energy crisis, interest rates and rising wages, although businesses indicated that fuel discounts provided some respite.

Private sector activity demonstrated continued expansion in October, though the rate of improvement moderated, as the Composite Purchasing Managers` Index (PMI) registered 51.7, a decrease of 1.4 points from the September level and a four-month high, S&P Global indicated in its final report on Wednesday.

The Services PMI Business Activity Index registered 51.4 in October, maintaining expansionary conditions but decreased 1.6 points from September to attain a four-month high. The report indicated that new orders approached stagnation as output price inflation "remained historically high.

According to the latest report from the World Gold Council (WGC), global gold demand, encompassing over-the-counter (OTC) investment, decreased 1% year-on-year to 1,369 tonnes in Q3. Nevertheless, year-to-date demand remained virtually unchanged from the record levels of 2025, registering 3,881 tonnes, while the aggregate value of gold demand advanced to a new high of US$566 billion. Central bank acquisitions rebounded significantly to 321 tonnes during the quarter, bringing year-to-date buying to 675 tonnes, a 6% increase year-on-year. Gold ETFs also saw inflows of 211 tonnes, reversing the prior quarter`s outflows amid heightened concerns regarding fiscal sustainability and inflation. Conversely, bar and coin demand retreated 19% to 268 tonnes, while jewellery consumption declined 17% to 313 tonnes, its weakest Q3 performance in the WGC`s data series, as sustained prices continued to pressure buyers. Concurrently, technology demand increased 3% year-on-year, bolstered by heightened AI-related manufacturing activity.

Gold prices advanced almost 3% in Wednesday’s Asian trading session, breaching the $4,000 per ounce level as a depreciating US dollar and diminishing Treasury yields provided impetus to bullion. The dollar index retreated toward 101, attaining a five-week low, as investors evaluated preliminary US midterm election outcomes and the prospect of Democrats securing control of both legislative chambers, potentially instigating political deadlock and constraints on government expenditures. Geopolitical uncertainty remained a key factor, with markets monitoring indications of potential renewed US military action against Iran amidst faltering diplomatic undertakings. On the MCX, December gold futures increased 2.4% to Rs 1,42,957 per 10 grams, while silver futures remained proximate to Rs 1,90,000 per kg. Market participants are now focused on the forthcoming US jobs report for additional insights into labour-market dynamics and the Federal Reserve’s policy trajectory.

Crude oil futures advanced beyond $97 a barrel on Wednesday, rebounding from a four-week trough as investor focus transitioned from the US midterm elections to the developing US-Iran geopolitical tensions. The price action was also underpinned by a notable decrease in US crude stockpiles, with the American Petroleum Institute (API) reporting a drawdown of 5.267 million barrels for the week ended October 30, building upon the previous week`s 2.031-million-barrel decline. Diplomatic initiatives aimed at de-escalating the situation remain tenuous, as Qatar stated that both parties are assessing new proposals from mediators, while Iran conveyed disappointment regarding Washington’s reaction. Recent US defensive actions targeting Iranian missile infrastructure have further complicated the outlook. On the MCX, November crude oil futures concluded trading with a marginal change at Rs 9,102 per barrel.

The World Gold Council, or WGC, reported in its latest Gold Demand Trends update that aggregate Q3 gold demand, encompassing OTC transactions, decreased 1% year-over-year to 1,369 tonnes (t). Year-to-date, demand of 3,881t is nearly equivalent to the 2025 record of 3,884t, while value reached a record US$566 billion (bn). Central bank purchasing increased to 321t in Q3, surpassing recent standard quarterly acquisitions and elevating year-to-date demand to 675t (+6% year-over-year).

Gold exchange-traded funds demonstrated a directional shift after Q2 outflows, registering inflows of 211t in Q3. This resurgence appeared to be fueled by escalating apprehensions regarding fiscal sustainability and inflation, among other factors. Bar and coin investment activity proved more restrained; global demand decreased 19% year-over-year to 268t as investors adopted a wait-and-see posture, anticipating a more definitive price trajectory.

Jewellery demand declined 17% year-over-year to 313 tonnes, marking the poorest third quarter observed in available data, as elevated prices continued to present a challenge across all markets. Demand value demonstrated a marginal increase of 2% year-over-year, reaching US$43 billion. Gold utilized in technology rose 3% year-over-year in Q3, attributable to demand spurred by AI-related manufacturing which more than compensated for the restrictive impact of high gold prices.

The LBMA (PM) gold price averaged US$4,262/oz in Q3, marking the third strongest quarterly average price on record and 23% higher year-over-year. Global gold mine production increased by 3% year-over-year to 1,071t, a third-quarter record. Total supply decreased marginally by 1% to 1,369t; recycling volumes declined 8% year-over-year to a three-year low of 314t. The WGC indicated that demand for ETFs, bars and coins demonstrated resilience, despite facing countervailing factors. Central bank purchasing is likely to at least match 2025 following surprisingly robust Q3 activity. Jewellery volumes are expected to continue moderating given sustained high prices. Consequently, gold mine production remains the sole probable source of – limited – supply expansion.

The London Metal Exchange witnessed a further surge in copper inventories during the most recent trading session. Inventories advanced by 15875 tonnes, reaching 309650 tonnes on Tuesday, proximate to a three-and-a-half-month apex. Holdings have escalated approximately 13% during November.

India’s services sector demonstrated robust expansion in October, propelled by heightened demand, new client acquisitions and enhanced business activity. The HSBC India Services PMI Business Activity Index advanced to 55.8 from 55.2 in September, registering the sharpest increase in four months and maintaining a substantial position above the 50.0 growth threshold.

New orders expanded at the fastest rate observed since June, with the Finance & Insurance sector contributing to the broad-based increase across service industries. Domestic demand continued to be the primary catalyst, although export growth decelerated to its weakest level since February 2023.

Business expansion decelerated to the least robust pace in four months, reflecting ongoing caution among firms regarding the economic trajectory. Nevertheless, input cost inflation moderated to its lowest level since August 2020, and service charges registered their smallest rise since June.

The HSBC India Composite PMI Output Index advanced to 56.2 in October from 55.9 in September. Input cost inflation receded to an 11-month low, while output price inflation moderated to its weakest level since February 2022.

Australia’s services sector registered a contraction in October, as the headline index dipped beneath the 50 level, signaling a shift from stability to decline, according to data released by S&P Global on Monday.

The seasonally adjusted S&P Global Australia Services PMI Business Activity Index registered 48.5, a decline from 51.9 in September and the lowest level in seven months, according to the report. The composite PMI decreased to 48.2 in October, compared to 51.3 in September.

NCDEX Jeera futures rallied sharply 2.87% at Rs 27085 per quintal today. The counter jumped around 2.87% in last three-sessions. Open interest in the futures dropped sharply by 7.90% today and has plunged by 18.88% in last one week. Spot Jeera edged up 0.40% to Rs 26373.2 per quintal today and soared by around 13.27% over last one-month.It has soared by around 31.51% in last one year.

NCDEX Guar gum futures jumped 2.43% at Rs 16384 per quintal today. The counter spiked around 2.43% in last three-sessions. Open interest in the futures surged by 9.49% today and has soared by 58.02% in last one week.

NCDEX Guarseed futures climbed 1.36% at Rs 8350 per quintal today. The counter increased by around 1.36% in last three-sessions. Open interest in the futures soared by 7.35% today and has jumped by 55.18% in last one week.

NCDEX Cotton seed oilcake futures advanced 0.99% at Rs 3682 per quintal today. The counter gained approximately 0.99% in last three-sessions. Open interest in the futures rallied sharply by 7.63% today and has spiked by 11.73% in last one week.

NCDEX Coriander futures gained 0.97% at Rs 15874 per quintal today. The counter moved up around 0.97% in last three-sessions. Open interest in the futures ticked higher by 0.97% today and has risen slightly by 0.48% in last one week.

NCDEX Pepper futures inched up 0.66% at Rs 781 per quintal today. The counter edged up around 0.66% in last three-sessions. Open interest in the futures spiked by 5.45% today and has climbed by 3.57% in last one week.

NCDEX Turmeric futures rose slightly 0.46% at Rs 26380 per quintal today. The counter inched up around 0.46% in last three-sessions. Open interest in the futures edged up by 0.84% today and has inched lower by 1.86% in last one week.

MCX Gold futures for Dec-26 ended up today. The counter had added 1.77% on the day yesterday to close at Rs 1,39,452 per 10 grams. It opened at Rs 1,39,408 per 10 grams today and currently trades up 1.77% at Rs 1,41,920 per 10 grams with a 0.80% fall in open interest.

MCX Silver futures for Dec-26 are up 3.18% at Rs 1,85,404 per kg after ticking higher by 3.18% in last session.

NCDEX Pepper futures remained flat at Rs 776 per quintal today. The counter remained flat in last three-sessions. Open interest in the futures fell slightly by 0.91% today and has inched lower by 2.68% in last one week.

NCDEX Cotton seed oilcake futures edged down 0.03% at Rs 3645 per quintal today. The counter edged down around 0.03% in last three-sessions. Open interest in the futures is up slightly by 0.48% today and has surged by 4.30% in last one week.

NCDEX Guar gum futures inched lower 0.09% at Rs 15980 per quintal today. The counter eased by around 0.09% in last three-sessions. Open interest in the futures edged up by 1.43% today and has soared by 46.40% in last one week.

NCDEX Castor futures eased 0.10% at Rs 8332 per quintal today. The counter slipped by around 0.10% in last three-sessions. Open interest in the futures inched up by 0.53% today and has dropped sharply by 15.10% in last one week.

NCDEX Guarseed futures ticked lower 0.39% at Rs 8206 per quintal today. The counter declined slightly by around 0.39% in last three-sessions. Open interest in the futures climbed by 2.62% today and has spiked by 48.34% in last one week.

NCDEX Turmeric futures fell slightly 0.43% at Rs 26148 per quintal today. The counter inched lower by around 0.43% in last three-sessions. Open interest in the futures rose slightly by 0.03% today and has edged lower by 2.65% in last one week.

NCDEX Coriander futures fell 1.02% at Rs 15562 per quintal today. The counter eased by around 1.02% in last three-sessions. Open interest in the futures edged higher by 0.52% today and has firmed by 0.03% in last one week.

NCDEX Jeera futures inched up 0.51% at Rs 26465 per quintal today. The counter edged up around 0.51% in last three-sessions. Open interest in the futures is down slightly by 0.52% today and has slumped by 12.38% in last one week.

NCDEX Guar gum futures edged higher 0.43% at Rs 16064 per quintal today. The counter rose by nearly 0.43% in last three-sessions. Open interest in the futures rose slightly by 1.12% today and has soared by 45.94% in last one week.

NCDEX Castor futures ticked higher 0.36% at Rs 8370 per quintal today. The counter gained approximately 0.36% in last three-sessions. Open interest in the futures inched up by 1.22% today and has nosedived by 14.52% in last one week.

NCDEX Guarseed futures edged up 0.33% at Rs 8265 per quintal today. The counter increased by around 0.33% in last three-sessions. Open interest in the futures rose by 2.10% today and has surged by 47.59% in last one week.

NCDEX Coriander futures rose slightly 0.11% at Rs 15740 per quintal today. The counter moved up around 0.11% in last three-sessions. Open interest in the futures ticked higher by 0.33% today and has eased by 0.15% in last one week.

Australian household expenditure demonstrated a recovery, advancing 0.6% month-on-month in September 2026, recouping from a revised 0.1% contraction in August and registering its seventh consecutive monthly gain this year. The upturn was widespread, underpinned by heightened expenditure on health, recreation, apparel, and transportation, with spending increases observed across all states and territories. Year-on-year, household spending growth strengthened to 6.8% from 6.5% in the prior month, indicating sustained fortitude in consumer demand.

COMEX copper experienced a decline to a three and half month low on Wednesday, influenced by a mixed performance in equities. A resurgence of selling pressure in AI-related stocks and a substantial build in London Metal Exchange inventories contributed to a 2% drop in copper prices this morning, following a decline of over 2.5% yesterday. While the Nasdaq and S&P 500 staged a recovery after Monday`s considerable decrease, the narrower Dow Jones Industrial Average retreated. The Nasdaq increased 207.65 points, or 0.8 percent, to 25,372.01, and the S&P 500 advanced 27.52 points, or 0.4 percent, to 7,568.92, but the Dow decreased 197.26 points, or 0.4 percent, to 51,786.72. Copper is presently trading at $6.28 per pound, its lowest level since mid-July.

COMEX gold and silver futures are steadying around a one-year low on Wednesday morning in Asia. Investors tracked Middle East diplomacy and await the outcome of US midterm elections for fiscal policy clues. Gold is holding under $4k mark at $3945 per pounce while silver plunged over 1% at $49.25 per ounce. Meanwhile, the World Gold Council report released on Tuesday showed that central banks bought gold at the fastest pace since the end of 2024 in the third quarter (Q3), even as the metal faced pressure from higher oil prices and interest rates.

The American Petroleum Institute (API) reported a decline of 5.267 million barrels in United States crude oil inventories for the week concluding October 30. The week preceding registered a decrease of 2.031 million barrels. Commercial crude oil inventories, excluding the SPR, have decreased by more than 64 million barrels over the past 29 weeks and 12 million barrels year-to-date, as indicated by API data, partially offset by withdrawals from the SPR. Gasoline inventories increased by 1.427 million during the week ending October 30, following an increase of 2.39 million barrels in the week prior.

The RatingDog China General Services Business Activity Index registered 50.8 in October, surpassing the 50 level that indicates expansion, but retreating from the 51.6 recorded in the prior month, S&P Global reported on Wednesday. The Composite PMI declined to 52 from 52.4 in September.

The US Bureau of Labor Statistics reported on Tuesday that job openings in the United States totaled 7.5 million in September, a rise from the revised 7.19 million recorded for the prior month. The job openings rate registered at 4.5%.

The Job Openings and Labor Turnover Survey (JOLTS) indicated that the volume of hires was nearly steady at 5.4 million, with the hire rate holding at 4.5%. Total separations and the separations rate registered at 5.3 million and 3.3%, respectively, exhibiting minimal variation from the previous month. The quits rate was recorded at 2.1%.

MCX Zinc futures lost 1.65% at Rs 411.15 per kg in last session. The open interest in the counter saw a steep decline of 16.28%.Volume registered a marginal drop of 2.75%. The counter is marginally lower by 0.24% in last one-week.

MCX iCOMDEX Zinc index decreased by 0.08% to end at 43665.52.

MCX Zinc PE option for Rs 400, surged 42.38% at Rs 4.30 in last session.

Based on yesterday’s closing prices, here are the daily pivot levels for the MCX Nov-26 Zinc futures.

S1: 407.37

S2: 403.58

PP: 411.63

R1: 415.42

R2: 419.68

MCX Silver futures closed lower by 2.20% at Rs 179728.0 per kg in last session. The open interest in the counter declined by 0.58%.Volume climbed sharply by 25.63%. The counter has edged down by 6.58% in last one-week.

MCX iCOMDEX Silver index decreased by 0.08% to end at 20394.77. The index is down around 6.19% in last one-week and is lower by 18.52% in last one-month.

MCX Silver CE option for Rs 200000, dropped sharply by 23.94% at Rs 1697 in last session.

Based on yesterday’s closing prices, here are the daily pivot levels for the MCX Dec-26 Silver futures.

S1: 175690.33

S2: 171652.67

PP: 179288.67

R1: 183326.33

R2: 186924.67

MCX Natural gas futures finished slightly higher by 0.70% at Rs 274.6 per MMBtu in last session. The open interest in the counter posted a decline of 6.29%.Volume edged lower by 9.69%. The counter has moved lower by around 5.44% in last one-week.

MCX iCOMDEX Natural gas index posted a slight increase of 0.26% to end at 624.79. The index is slightly lower by 6.71% in last one-week and has recorded a slight decline of 14.46% in last one-month.

MCX Natural gas CE option for Rs 300, traded slightly higher by 0.58% at Rs 8.65 in last session.

Based on yesterday’s closing prices, here are the daily pivot levels for the MCX Nov-26 Natural gas futures.

S1: 271.03

S2: 267.47

PP: 274.87

R1: 278.43

R2: 282.27

MCX Lead futures closed slightly lower by 0.74% at Rs 194.15 per kg in last session. The open interest in the counter lost 0.34%.Volume registered a marginal increase of 3.57%. The counter is marginally lower by 1.11% in last one-week.

MCX iCOMDEX Lead index edged up by 0.10% to end at 8786.77.

Based on yesterday’s closing prices, here are the daily pivot levels for the MCX Nov-26 Lead futures.

S1: 193.68

S2: 193.22

PP: 194.37

R1: 194.83

R2: 195.52

MCX Gold futures closed slightly lower by 0.50% at Rs 139480.0 per 10 gram in last session. The open interest in the counter rose by 0.72%.Volume recorded a decline of 11.97%. The counter has slipped by 2.74% in last one-week.

MCX iCOMDEX Gold index dropped by 0.07% to end at 33520.68.

MCX Gold CE option for Rs 150000, plunged 14.72% at Rs 460.50 in last session.

Based on yesterday’s closing prices, here are the daily pivot levels for the MCX Dec-26 Gold futures.

S1: 138090.33

S2: 136700.67

PP: 139252.67

R1: 140642.33

R2: 141804.67

MCX Crude oil futures finished slightly higher by 0.45% at Rs 9113.0 per barrel in last session. The open interest in the counter plunged by 12.77%.Trading activity increased significantly by 41.02%. The counter has slipped by 4.49% in last one-week.

MCX iCOMDEX Crude oil index gained 0.19% to end at 14796.36. The index has moved lower by around 6.62% in last one-week

MCX Crude oil PE option for Rs 8000, dropped sharply by 10.81% at Rs 97.40 in last session.

Based on yesterday’s closing prices, here are the daily pivot levels for the MCX Nov-26 Crude oil futures.

S1: 8866.67

S2: 8620.33

PP: 9119.33

R1: 9365.67

R2: 9618.33

MCX Copper futures declined 1.88% at Rs 1365.85 per kg in last session. The open interest in the counter dropped by 2.31%.Volume jumped by 82.38%. The counter has edged down by 0.95% in last one-week.

MCX iCOMDEX Copper index posted a slight decline of 0.06% to end at 20309.96.

MCX Copper CE option for Rs 1400, tumbled 35.23% at Rs 12.96 in last session.

Based on yesterday’s closing prices, here are the daily pivot levels for the MCX Nov-26 Copper futures.

S1: 1346.62

S2: 1327.38

PP: 1365.33

R1: 1384.57

R2: 1403.28

MCX Aluminium futures finished slightly lower by 1.45% at Rs 326.5 per kg in last session. The open interest in the counter declined by 0.56%.Volume recorded a significant rise of 74.61%. The counter has recorded a slight decline of 0.26% in last one-week.

MCX iCOMDEX Aluminium index posted a slight increase of 0.02% to end at 15693.36.

Based on yesterday’s closing prices, here are the daily pivot levels for the MCX Nov-26 Aluminium futures.

S1: 323.12

S2: 319.73

PP: 327.68

R1: 331.07

R2: 335.63

COMEX Copper futures experienced a decline today as DOW futures retreated amid escalating global geopolitical concerns. Increased inventories exerted downward pressure on the metal, with the counter trading down 3% at $6.36 per pound, probing three-month lows.

MCX Gold futures for Dec-26 traded weak today. The counter currently trades down 0.13% at Rs 1,38,300 per 10 grams with a 0.42% slump in open interest.

In other commodities, MCX Crude oil futures for Nov-26 lost 4.83% to trade at Rs 9,457 per barrel.

MCX Nov-26 Copper futures witnessed a rise of 0.70% to trade at Rs 1,383 per kg.

MCX Natural Gas futures for Nov-26 are gaining 0.90% at Rs 279 per mmbtu with a 1.16% uptick in open interest.

Crude oil futures experienced a decline exceeding 3% on Monday, spurred by ongoing diplomatic initiatives involving Iran and Qatar that fostered optimism regarding a resolution to the US-Israeli conflict on Iran, thereby mitigating anxieties surrounding protracted supply chain interruptions. Brent crude retreated towards $110 per barrel, while WTI decreased to approximately $100.60. Concurrently, OPEC+ reaffirmed its December production targets, postponing additional policy modifications until next year in light of persistent export disruptions. Market participants will also scrutinize this week’s US jobs report for additional insights into the Federal Reserve’s policy trajectory. On the MCX, November crude oil futures decreased almost 4% to Rs.9,548 per barrel.

Precious metals speculators modestly reduced their net long positions in Silver futures markets during the week following recent price depreciation, as indicated by the latest Commitment of Traders (COT) report from the Commodity Futures Trading Commission (CFTC). Non-commercial traders, encompassing hedge funds, large speculators, and retailers, held a net position of 19703 contracts in Silver futures contracts in the data reported through October 27, 2026. This represented a weekly decrease of 92 net contracts, maintaining net longs at a one-month trough.

Precious metals speculators registered a further pronounced decline in their net long position in the Gold futures, as indicated by the latest Commitment of Traders (COT) data disclosed by the Commodity Futures Trading Commission (CFTC). Non-commercial futures contracts for Gold futures, encompassing the trading activity of substantial speculators, hedge funds, and retailers, aggregated a net position of 186451 contracts in the data reported through October 27, 2026, decreasing by 13414 contracts from the prior week and approaching a three-month trough.

Germany’s retail trade turnover experienced a real annual decline of 2.3% in September, according to a report released Monday by Destatis, the nation’s statistical office. Conversely, turnover in nominal terms registered an expansion of 1.2%.

Germany’s retail sales experienced a decline of 2% in real terms and 1.5% in nominal terms when compared to the prior month.

Annual retail sales of food products registered a decline of 1.1% in real terms and 0.5% in nominal terms. Monthly, food product sales decreased by 1.4% and 1.1%, respectively. Non-food retail trade experienced an annual contraction of 2.8% in real terms, alongside a 1.7% increase in nominal terms. On a monthly basis, non-food retail trade recorded a decrease of 2.4% and 1.9% in real and nominal terms.

Base metals demonstrated a consistent upward trajectory today. MCX Copper futures are currently valued at Rs 1383.95 per kg, reflecting a 0.75% increase on the day, although upside momentum encountered resistance near the Rs 1387 per kg level. MCX Aluminium futures retreated 0.17% to Rs 329.25 per kg. MCX Zinc futures advanced 1.86% to reach Rs 413.35 per kg. MCX Lead futures declined 0.03% to trade at Rs 195.70 per kg. MCX Nickel futures for Nov-26 registered a 1.27% gain, trading at Rs 1470 per kg.

MCX Gold futures for Dec-26 advanced today. The counter had ended up 0.41% on the day yesterday to close at Rs 1,38,485 per 10 grams. It opened at Rs 1,39,003 per 10 grams today and currently trades up 0.41% at Rs 1,39,047 per 10 grams with a 1.48% contraction in open interest.

MCX Silver futures for Dec-26 are up 1.62% at Rs 1,82,025 per kg after inching up 1.62% in last session.

Quotes as on 29 October 2026, weekly change in percent

WHEAT US - HRW (Gulf) $296, - 2.30%, EU France Grade 1 (Rouen) $261, - 3.33

MAIZE (CORN) US - 3YC (Gulf) $228, - 1.72%, Brazil 211, - 3.21

BARLEY EU - France (Rouen) $238, -4.8

SOYABEANS US - No.2 (Gulf) $492, - 2.38, Brazil (Paranagua) $503, - 3.45

RICE Thailand 5% Broken $478, 0.63

Australia’s Melbourne Institute Monthly Inflation Gauge advanced 0.5% month-on-month in October, a notable acceleration from 0.3% in September and the fourth successive monthly increase. Sustained inflationary pressures have bolstered anticipations of an additional RBA rate increase at this week’s policy meeting. Annual headline inflation attained a six-month high of 4.3% in September, considerably above the central bank’s 2–3% target range.

The coming week anticipates significant activity for global markets, as the US midterm elections, vital employment data, and a series of central bank policy announcements are positioned to influence investor confidence. Lingering inflation pressures fueled by energy costs and geopolitical instability in the Middle East and Ukraine will remain central anxieties, while the OPEC meeting may provide additional insights regarding the global oil supply trajectory. Corporate results from leading technology and consumer sector organizations will contribute to the developments, alongside Eurozone inflation data and China’s most recent business activity assessments. From Washington’s political arena to central bank forums throughout Europe and Asia, investors are confronted with a dense schedule of potential market-impacting events.

The US midterm elections on November 3 will be a pivotal event, with the outcome potentially influencing President Donald Trump’s policy direction. Market participants will also scrutinize the monthly jobs report, ISM manufacturing and services PMIs, JOLTS job openings data, and consumer sentiment figures for indications of economic resilience and the Federal Reserve’s forthcoming policy stance. Trade statistics and the Treasury’s quarterly refunding announcement will also be under observation. In Canada, attention will be directed toward employment statistics, trade data, and the federal budget, while Brazil and Mexico are scheduled to announce monetary policy decisions. Regarding corporate results, Apple, AMD, Qualcomm, Uber, McDonald’s, and Berkshire Hathaway are among the prominent companies slated to report.

Europe: Investor attention will be keenly focused on the Bank of England`s interest rate decision, as market participants evaluate how officials react to resurging inflationary concerns stemming from elevated energy prices. Eurozone inflation data remains a key area of observation, in conjunction with retail sales, factory orders and industrial production figures from the region`s major economies. Germany’s industrial output and Spain’s labor market statistics will provide additional insight into the underlying strength of regional economies, while policy announcements are scheduled from Sweden, Norway and Poland. Corporate results from BMW, Ferrari, Bayer, Deutsche Telekom, Commerzbank and Ryanair will complete a substantial week of activity.

Asia: Upcoming data releases will offer insights into industrial activity and domestic demand in China, with the October manufacturing and services PMIs anticipated. In Japan, wage data, final PMI figures, and minutes from the Bank of Japan’s September meeting will be closely examined for indications regarding the interest rate trajectory. Australia’s Reserve Bank is anticipated to implement a 25 basis point rate increase in response to ongoing inflationary pressures, alongside the release of building approvals, household spending data, and trade figures. Across the broader region, inflation, GDP, trade, and PMI reports from South Korea, Indonesia, Vietnam, Thailand, Taiwan, and other economies will contribute to assessing Asia’s growth prospects. The policy decision from Bank Negara Malaysia, alongside earnings announcements from Nintendo, Mitsubishi, Sumitomo, and State Bank of India, will also be of note.

NCDEX Turmeric futures inched lower 0.55% at Rs 26840 per quintal today. The counter edged down around 0.55% in last three-sessions. Open interest in the futures edged up by 0.25% today and has eased by 2.53% in last one week.

NCDEX Jeera futures fell slightly 0.68% at Rs 26100 per quintal today. The counter declined slightly by around 0.68% in last three-sessions. Open interest in the futures remained flat today and has dropped sharply by 13.10% in last one week.

NCDEX Castor futures declined 1.08% at Rs 8334 per quintal today. The counter slipped by around 1.08% in last three-sessions. Open interest in the futures edged higher by 0.16% today and has plunged by 13.90% in last one week.

NCDEX Coriander futures nosedived 1.66% at Rs 15744 per quintal today. The counter declined by around 1.66% in last three-sessions. Open interest in the futures inched lower by 1.04% today and has ticked lower by 1.67% in last one week.

LME Aluminium inventories decreased in the previous session, extending a recent downward trend and remaining at a multi-decade low. The Aluminium inventories declined by 475 tonnes on Friday to register at 231200 tonnes. Inventories decreased approximately 4% on Oct-26.

India’s manufacturing activity maintained a robust expansion in October, as the HSBC India Manufacturing PMI moderated to 54.7 from 55.1 in September. The index remained well above the 50-mark, signaling continued growth. Nevertheless, output and new orders registered marginally reduced increases when compared to the prior month.

External demand bolstered activity, with new orders expanding at the most rapid rate in six months, propelled by requirements from markets encompassing the US, UK, UAE and proximate Asian nations. Manufacturing production also exhibited a marked increase, despite a deceleration in the pace of expansion.

Input price inflation receded to its lowest level since February as cost burdens diminished. Selling prices firmed only modestly, registering the smallest gain in almost four years. Employment expanded for the second consecutive month, though the pace of hiring remained subdued.

Manufacturers sustained inventory accumulation, evidenced by a record expansion in finished goods stocks. Nevertheless, business sentiment deteriorated, with approximately 18% of firms projecting elevated output over the subsequent year.

Japan’s factory output demonstrated an expansion in October, though the rate of increase moderated relative to the prior month, as evidenced by the S&P Global Japan Manufacturing Purchasing Managers` Index (PMI), which registered 53.3, down from 54.1 in September.

Australia’s manufacturing activity continued its downturn for the second month in a row in October, as the S&P Global Manufacturing Purchasing Managers’ Index (PMI) held steady at 49.6, according to a report distributed by S&P Global. The gauge remained consistent with September’s reading, registering the lowest level since December 2024.

COMEX copper demonstrated a recovery from a one-week low on Monday morning in Asia, influenced by receding oil prices amid optimism surrounding discussions between Qatari mediators and Iranian officials aimed at de-escalating tensions in the Middle East, potentially alleviating supply concerns. The dollar also retreated below the 102 level. However, Asian stock markets are exhibiting a mixed performance on Monday, reflecting the broadly negative sentiment from Wall Street on Friday, spurred by weakness in technology equities mirroring the performance of their counterparts on the tech-heavy Nasdaq due to renewed apprehensions regarding the AI trade. This factor may constrain upside potential in the red metal. On Wall Street, the Nasdaq declined by 747.73 points, or 2.9 percent, to 25,437.00, the S&P 500 decreased by 140.32 points, or 1.8 percent, to 7,580.07, and the Dow experienced a decline of 572.25 points, or 1.1 percent, to 51,770.31. The commodity is presently valued at $6.51 per pound.

According to fresh data released by Baker Hughes on Friday, the overall count of active drilling rigs for oil and gas in the United States held steady for another week, maintaining a total of 603, a rise of 57 from a year prior. The number of active oil rigs increased by 2, reaching 462 in the latest reporting period, surpassing the figure from the same week last year by 48. Gas rigs decreased by 2, to 130, reflecting an increase of 5 compared to the year-ago level. Miscellaneous rigs were unchanged at 11.

China’s Manufacturing Purchasing Managers` Index (PMI) registered 49.3 in October, a decline from September`s 50 and signaling a contraction, according to the National Bureau of Statistics (NBS). The official non-manufacturing PMI registered a contraction, decreasing from 50.5 in the prior month to 49.7 in October.

China’s factory activity continued on an upward trajectory in October, building upon the prior month’s results, according to S&P Global’s most recent data released on Monday. The RatingDog China General Manufacturing Purchasing Managers` Index (PMI) registered 52 in October, a marginal decrease from the 52.1 reported in September.

MCX Zinc futures finished slightly lower by 0.90% at Rs 405.75 per kg in last session. The open interest in the counter dropped by 4.86%.Trading activity dropped significantly by 28.63%. The counter has recorded a slight gain of 2.23% in last one-week.

MCX iCOMDEX Zinc index moved up by 0.90% to end at 42350.55.

MCX Zinc PE option for Rs 400, advanced sharply by 25.97% at Rs 6.50 in last session.

Based on yesterday’s closing prices, here are the daily pivot levels for the MCX Nov-26 Zinc futures.

S1: 403.43

S2: 401.12

PP: 407.72

R1: 410.03

R2: 414.32

MCX Silver futures slumped 5.55% at Rs 178944.0 per kg in last session. The open interest in the counter posted a slight increase of 1.39%.Volume jumped by 37.44%. The counter is marginally lower by 3.20% in last one-week.

MCX iCOMDEX Silver index surged by 5.90% to end at 19837.57. The index is marginally lower by 5.23% in last one-week and has eased by 15.25% in last one-month.

MCX Silver CE option for Rs 200000, fell sharply by 43.83% at Rs 1933 in last session.

Based on yesterday’s closing prices, here are the daily pivot levels for the MCX Dec-26 Silver futures.

S1: 175751.33

S2: 172558.67

PP: 182011.67

R1: 185204.33

R2: 191464.67

MCX Natural gas futures closed down 0.14% at Rs 276.7 per MMBtu in last session. The open interest in the counter decreased by 4.30%.Volume slumped by 20.36%. The counter is slightly lower by 5.33% in last one-week.

MCX iCOMDEX Natural gas index increased by 1.84% to end at 635.59. The index has moved lower by around 7.67% in last one-week and has slipped by 12.42% in last one-month.

MCX Natural gas CE option for Rs 290, slumped 16.94% at Rs 12.75 in last session.

Based on yesterday’s closing prices, here are the daily pivot levels for the MCX Nov-26 Natural gas futures.

S1: 271.73

S2: 266.77

PP: 275.87

R1: 280.83

R2: 284.97

MCX Lead futures finished slightly lower by 0.03% at Rs 195.65 per kg in last session. The open interest in the counter fell sharply by 12.04%.Volume saw a decline of 18.02%. The counter has edged up by 0.18% in last one-week.

MCX iCOMDEX Lead index posted a slight increase of 0.10% to end at 8791.26.

Based on yesterday’s closing prices, here are the daily pivot levels for the MCX Nov-26 Lead futures.

S1: 194.05

S2: 192.45

PP: 195.15

R1: 196.75

R2: 197.85

MCX Gold futures ended sharply lower by 2.89% at Rs 138475.0 per 10 gram in last session. The open interest in the counter moved up by 4.92%.Volume climbed sharply by 193.07%. The counter has moved up by around 0.40% in last one-week.

MCX iCOMDEX Gold index posted a sharp increase of 3.02% to end at 33076.45.

MCX Gold CE option for Rs 150000, plunged 42.49% at Rs 421 in last session.

Based on yesterday’s closing prices, here are the daily pivot levels for the MCX Dec-26 Gold futures.

S1: 136958.0

S2: 135441.0

PP: 139766.0

R1: 141283.0

R2: 144091.0

MCX Crude oil futures finished higher by 2.12% at Rs 9915.0 per barrel in last session. The open interest in the counter rose sharply by 17.84%.Trading volume saw a slight decline of 6.53%. The counter is marginally lower by 0.93% in last one-week.

MCX iCOMDEX Crude oil index declined sharply by 2.10% to end at 16204.92. is marginally higher by 11.97% in last one-month.

MCX Crude oil PE option for Rs 9000, moved sharply lower 21.26% at Rs 157 in last session.

Based on yesterday’s closing prices, here are the daily pivot levels for the MCX Nov-26 Crude oil futures.

S1: 9792.67

S2: 9670.33

PP: 9882.33

R1: 10004.67

R2: 10094.33

MCX Copper futures finished slightly lower by 1.47% at Rs 1374.0 per kg in last session. The open interest in the counter saw a slight rise of 1.03%.Volume edged up by 8.10%. The counter has gained 0.84% in last one-week.

MCX iCOMDEX Copper index rose by 1.51% to end at 20030.72.

MCX Copper PE option for Rs 1350, advanced sharply by 76.09% at Rs 17.01 in last session.

Based on yesterday’s closing prices, here are the daily pivot levels for the MCX Nov-26 Copper futures.

S1: 1366.18

S2: 1358.37

PP: 1380.52

R1: 1388.33

R2: 1402.67

MCX Aluminium futures ended slightly higher by 0.05% at Rs 329.6 per kg in last session. The open interest in the counter edged up by 0.09%.Volume jumped by 40.32%. The counter is up around 0.92% in last one-week.

MCX iCOMDEX Aluminium index declined by 0.02% to end at 15610.45.

Based on yesterday’s closing prices, here are the daily pivot levels for the MCX Nov-26 Aluminium futures.

S1: 327.77

S2: 325.93

PP: 329.83

R1: 331.67

R2: 333.73