BhaavBrief — India's Daily Commodity Intelligence

India's Commodity Intelligence Platform for MCX Traders

Daily market briefs and an event calendar for MCX crude oil, natural gas, gold, silver, and base metals — published every trading day at 9:30 AM IST, before the session finds direction.

Read Today's Brief (free)See What Moves Each Commodity

Market Pulse

MCX Composite iVIX

—

BhaavBrief's composite read on options-market volatility across MCX's core commodities

Composite Vol Premium

—

Whether options are pricing in more movement than these commodities have actually delivered lately

USD/INR

95.96

+0.02% — a weaker rupee amplifies MCX gains from global commodity price moves today.

Commodity Terminal

All 10 MCX markets →

GOLDGold

₹1,54,263

▲ +0.84% · /10g

iVIX—

20D avg—

Vol prem.—

PCR—

Max pain—

OI vs low—

N/A

Price →Options →

SILVERSilver

₹2,42,000

▲ +1.59% · /kg

iVIX—

20D avg—

Vol prem.—

PCR—

Max pain—

OI vs low—

N/A

Price →Options →

CRUDEOILCrude Oil

₹9,662

▼ -0.98% · /bbl

iVIX—

20D avg—

Vol prem.—

PCR—

Max pain—

OI vs low—

N/A

Price →Options →

NATURALGASNatural Gas

₹279.60

▲ +0.14% · /mmBtu

iVIX—

20D avg—

Vol prem.—

PCR—

Max pain—

OI vs low—

N/A

Price →Options →

COPPERCopper

₹1,403

▲ +0.58% · /kg

iVIX—

20D avg—

Vol prem.—

PCR—

Max pain—

OI vs low—

N/A

Price →Options →

Volatility & Correlation

iVIX Term Structure

Implied volatility by expiry bucket, across the 5 core MCX chains

Cross-Asset Correlation

5 MCX commodities × USDINR

	Gold	Silver	Crude	Copper	Nat Gas	USDINR
Gold	1.00	0.71	-0.42	0.48	-0.43	0.03
Silver	0.71	1.00	-0.61	0.81	-0.30	-0.18
Crude	-0.42	-0.61	1.00	-0.63	0.15	0.27
Copper	0.48	0.81	-0.63	1.00	-0.40	-0.15
Nat Gas	-0.43	-0.30	0.15	-0.40	1.00	-0.25
USDINR	0.03	-0.18	0.27	-0.15	-0.25	1.00

How closely these markets have been moving together (20-day window)

🔴 LiveCross-Asset Correlation — 20-day windowUnlock with Pro →₹33/day · Cancel anytime

Options Intelligence

Put-Call Ratio

How options positioning is leaning across puts and calls

Gold

—

N/A

Silver

—

N/A

Crude Oil

—

N/A

Natural Gas

—

N/A

Copper

—

N/A

Max Pain Proximity

Where the options market may be pulling price toward by expiry

Instrument	Max Pain	Futures	Distance
Gold	—	—	—
Silver	—	—	—
Crude Oil	—	—	—
Natural Gas	—	—	—
Copper	—	—	—

Cross-Asset & Macro

Brent–WTI Spread

$3.30

+0.39 vs prior close

Global crude benchmark spread (15-min delayed)

Gold/Silver Ratio

66.1x

-1.1x vs prior close

Gold's value relative to silver, on global prices

Gold/Crude Ratio

46.3x

+3.1x vs prior close

How gold is pricing against crude oil globally

Movers

Instrument	Price	Change
MCX Electricity	₹7,540/MWh	▲ +3.32%
MCX Silver	₹2,42,000/kg	▲ +1.59%
MCX Zinc	₹433.3/kg	▲ +1.32%
MCX Lead	₹197.5/kg	▲ +1.15%
MCX Gold	₹1,54,263/10g	▲ +0.84%
MCX Copper	₹1,403/kg	▲ +0.58%
MCX Aluminium	₹353.2/kg	▲ +0.30%
MCX Nickel	₹1,601/kg	▲ +0.18%
MCX Natural Gas	₹279.6/mmBtu	▲ +0.14%
MCX Crude Oil	₹9,662/bbl	▼ -0.98%

Brief & Calendar

Edition #109Friday, 18 September 2026

Silver Surges 3.3% as Gold Holds — Crude Retreats From Its Own Story

Silver's industrial bid decouples from crude's retreat, signalling the safe-haven trade is being joined by a growth-demand component.

MCX SilverMCX CrudeGeopolitics

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#109

Previous EditionsView all 102 editions →

#108Oil Retreats From $105 — Gold Is Not Playing Along #107Oil Breaks $105 While Gold Climbs — the Divergence Is Widening #106Gas Slips While Oil Holds — Two Energy Markets, Two Stories

Developing Story · Day 1

Middle East De-escalation: Crude Falls While Gold Holds Firm

Diplomatic cease-fire signals in Middle East conflict trigger crude oil retreat below $101, but gold resists the risk-off move—signaling market uncertainty about durability of peace talks.

Follow this story →

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About BhaavBrief

Independent commodity intelligence for India's traders, investors, merchants and businesses. MCX energy, metals, and NCDEX agri — prices, context, and what moves them.

For educational and informational purposes only. Not registered with SEBI or any regulatory authority. Nothing here constitutes investment advice or a solicitation to trade.