return to news
  1. Upstox
    /
  2. News
    /
  3. Market News
    /
  4. Commodities
    /
  5. MCX Gold prices touch all-time high, steady around ₹95,200; check today’s trade setup

Market News

MCX Gold prices touch all-time high, steady around ₹95,200; check today’s trade setup

Upstox
By Upstox News Desk

2 min read | Updated on April 17, 2025, 19:56 IST

Twitter Page
Linkedin Page
Whatsapp Page

SUMMARY

MCX Gold prices hit a fresh record high on ₹95,935 and witnessed minor profit-booking at higher levels. However, the short-term trend of gold remains bullish with immediate support around ₹93,940.

Oil prices extended the range-bound movement for the sixth consecutive session.

Oil prices extended the range-bound movement for the sixth consecutive session.

Market recap (as of 7:30 pm)

  • Gold 5 June Futures: ₹94,798 (▼ 0.9%)
  • Silver 5 May Futures: ₹94,911 (▼ 1.3%)
  • Crude Oil 19 May Futures: ₹5,383 (▲ 1.2%)

Technical structure

Gold: The price of yellow metal witnessed minor profit-booking on MCX after a sharp up move of 8% in last six sessions. The short-term trend of the gold remains bullish with immediate support around the ₹93,940 and ₹91,400 zones. Unless gold slips below these levels on a closing basis, the trend may remain bullish.
Open FREE Demat Account within minutes!
Join now
D-Image-1.webp
Silver: Silver prices faced rejection from its immediate resistance zone of ₹97,100 and slipped below its 21, 50 and 200-day EMAs. If silver ends below all its key EMAs and previous session’s low, it may further extend its weakness. On the flip side, a close above ₹97,100 will push the silver back into upward trending channel.
D-Image-2.webp
Crude oil: Oil prices extended the range-bound movement for the sixth consecutive session and is currently consolidating around 5,300 zone. As highlighted in our previous session’s blog, unless the crude reclaims the resistance zone of ₹5,675 or breaks the support zone of ₹4,798, the trend may remain sideways.
D-Image-3.webp

The open interest data saw significant call open interest at 5,400 strike, indicating resistance for the crude around this level. On the flip side, the put base was observed 5,300 and 5,200 strikes with minor volume.

D-Image-4.webp

Disclaimer:

Derivatives trading must be done only by traders who fully understand the risks associated with them and strictly apply risk mechanisms like stop-losses. The information is only for the client's consumption, and such material should not be redistributed. We do not recommend any particular stock, securities, or strategies for trading. The securities quoted are exemplary and are not recommendatory. The stock names mentioned in this article are purely to show how to do analysis. Take your own decision before investing.

SIP
Consistency beats timing.
promotion image

About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

Next Story