Domestic and global commodities markets experienced significant upward momentum in early Monday trading. While precious metals staged a modest recovery—led by a strong performance in silver—the broader bullion market remains near nine-month lows. MCX: Gold futures rose by 0.3%, while silver outpaced the broader bullion complex with gains exceeding 1%. Spot gold traded marginally higher, hovering near $4,020 per ounce. Spot silver demonstrated robust momentum, surging 2% to trade near $57 per ounce. Despite recent headwinds, the bullion market saw positive inflows during early trading sessions.

MCX Gold future has resumed with gapped up this week at 141,364 and started trading over 50-EMA on hourly charts placed at 141,150. Price has inclined today due to continues weakness in Indian Rupee which has weaken further by 15 paisa against US Dollar today. 

Crude oil prices continued their steep upward trajectory, gaining approximately 30% from their July lows. This rally follows a severe escalation in the Middle East over the weekend, including fresh U.S. airstrikes in response to the casualties of three American service members, and Iran’s subsequent declaration that its ceasefire with the U.S. has collapsed. Furthermore, Tehran reported the interception of four vessels in the Strait of Hormuz.