Indian stock markets surged on Monday, with Sensex and Nifty rallying around 1% each. Rising hopes for the US-Iran peace deal and falling oil prices fueled this optimism. The broad-based gains added nearly Rs 5 lakh crore to the total market capitalisation, with Nifty Auto leading sectoral advances.
MCX gold June futures contract jumped 0.4% to Rs 1,58, 762 per 10 grams, while the MCX silver July futures surged 1.55% to Rs 2,76,052 per kg.
At 9.19 am, the BSE Sensex was trading at 76,276.46, up 861.11 points or 1.14 per cent. Nifty stood at 23,972.20, up 252.90 points or 1.07 per cent.
As talks of a deal between Washington and Tehran gained steam over the weekend, GasBuddy analyst Patrick De Haan opined on Sunday about how gas prices will fall. Gas Prices To Plummet De Haan took to X , quoting a post by a user who predicted that gas prices would fall in the coming days following talks of a possible deal. data-variant="card" data-news-mode="manual" > Read Also: Iran's Strait Of Hormuz Toll System Sparks Sanctions Push As Trump Ally Tom Cotton Reportedly Urges Scott Bessent To Act: 'Every Dollar Collected...' The analyst acknowledged that fuel prices were falling, but until a definitive agreement between the U.S. and Iran was “signed & a significant amount of ships transit through the Strait,” the national average price for a gallon of gas would likely stay “well above $4.” “Only once we start seeing confidence and ships move will prices plummet,” De Haan said in the post. According to data collected by the American Automobile Association (AAA), the national average price for gas fell to $4.515/gallon, with California prices still ... Full story available on Benzinga.com
MCX gold prices continue to consolidate near record levels, supported by safe-haven demand amid global uncertainty, with analysts maintaining a positive bias and suggesting a buy-on-dips strategy. Technical indicators point to sustained bullish momentum, though consolidation may continue until a decisive breakout above key resistance levels emerges.
Market Analysis by covering: Euro US Dollar, Brent Oil Futures, United States 10-Year. Read 's Market Analysis on Investing.com NG.
Brent crude prices had fallen more than 4 percent to trade near $98 per barrel
Price closed last week below the $4,530-60 major support zone on a daily closing basis. That area has now flipped to resistance. Today's bounce is trading right into the that resistance zone. The Fibonacci Map (4,774 high to 4,453 low): 0 -- $4,774 (high) 0.236 -- $4,704 0.382 -- $4,589 / $4,576 0.5 -- $4,614 -- FIRST RESISTANCE. Bulls need a daily close above this to show any real strength. 0.618 -- $4,651 0.786 -- $4,705 1 -- $4,453 (cycle low / week low) Today's +1.13% bounce is running directly into the $4,530-60 resistance zone. This is the first test of former support as resistance. How price reacts on the daily close today tells you everything. Two scenarios: Daily close above $4,560 but below $4,614: Mild positive. Inside resistance zone. Not enough. Need follow through tomorrow toward $4,614. Daily close above $4,614 (0.5 Fib): First real sign of bull strength. Bias shifts cautiously. Next targets $4,651 then $4,705. Daily close back below $4,530: Resistance held. Bounce failed. $4,453 week low retested. If that breaks, $4,404 opens. Volume remains flat. Pattern remains choppy.
The Central Bank of Sri Lanka (CBSL) states that the decision to limit Loan-to-Value (LTV) ratios for motor vehicles has come into effect from today (25). MORE..
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Silver sprinted higher again, and the WisdomTree Silver 3x Daily Leveraged ETC amplified the move. The spot price climbed more than four percent to 78.46 dollars per ounce, while the 3x tracker aimed to triple that daily swing, reflecting the instrument’s mandate to deliver three times the Solactive Silver Commodity Futures SL Index on a [...] The post Triple-Levered Silver ETF Faces a Data-Driven Crosswind as May Swings Persist appeared first on NewsCase .