Reason: BREAKING: supply deficit (silver) | Impact: Bullish bias +2
MCX Gold Aug: 143,066 | MCX Silver Sep: 222,301 | Desk calls today: 5/8 hit
Contract |
Call |
Entry |
T1 |
SL |
Status |
|---|---|---|---|---|---|
MCX SILVER Sep |
SELL SILVER |
223,800 |
216,000 |
225,500 |
T1_HIT |
MCX GOLD Aug |
BUY GOLD |
141,000 |
141,900 |
140,700 |
T1_HIT |
MCX GOLD Aug |
BUY GOLD |
140,100 |
142,700 |
139,600 |
T1_HIT |
MCX GOLD Aug |
SELL GOLD |
142,780 |
140,500 |
143,200 |
SL_HIT |
MCX GOLD Aug |
BUY GOLD |
143,250 |
144,050 |
142,800 |
SL_HIT |
MCX GOLD Aug |
SELL GOLD |
144,050 |
143,000 |
144,500 |
SL_HIT |
MCX SILVER Sep |
SELL SILVER |
224,600 |
218,000 |
229,000 |
T1_HIT |
MCX SILVER Sep |
BUY SILVER |
214,000 |
223,000 |
212,000 |
T1_HIT |
DAILY BULLION REPORT — Friday, 24 July 2026
Full trading day coverage: 9:00 AM – 11:30 PM IST | Anchored to COMEX with bridge conversion | July level-trading regime
1. RANGE — Expected Full-Day High-Low Band
Instrument |
COMEX Anchor |
Bridge |
Expected Low |
Expected High |
|---|---|---|---|---|
MCX Gold Aug |
$4,010–$4,075 |
Rs31/10g per $ |
1,41,600 |
1,44,050 |
MCX Silver Sep |
$56.7–$58.6 |
— |
2,16,400 |
2,22,600 |
High and Low are expected to hold inside these bands. Spot reference: Gold 1,42,796 | Silver 2,19,250 | USDINR 96.56.
2. OUR PREFERENCE — Primary Full-Day Call
GOLD (Aug) — Buy-on-dip bias inside range:
- Direction: Buy on dips (soft-dollar tailwind after weak NFP)
- Entry zone: 1,42,100 – 1,41,900
- Add-on: 1,41,500 (only if held 15 min)
- SL (only if sustained below): 1,41,200
- Target 1: 1,42,950 | Target 2: 1,43,700
- R:R ≈ 1:2.8
SILVER (Sep) — Buy-on-dip bias:
- Entry zone: 2,18,200 – 2,17,600
- Add-on: 2,16,800 (only if held)
- SL (only if sustained below): 2,16,200
- Target 1: 2,20,400 | Target 2: 2,22,000
- R:R ≈ 1:2.7
3. ALTERNATIVE SCENARIO — Opposite-Side Plan
- Gold: If price sustains below 1,41,600 (COMEX loses $4,010), flip short. Trigger 1,41,550 → Target 1,40,700 → SL 1,42,100.
- Silver: Sustained break below 2,16,400 → sell 2,16,200 → Target 2,14,000 → SL 2,17,400.
4. TRADING ZONE — Jobbing Levels (Tight SL, Quick Strokes)
Metal |
Buy 1st stroke |
Sell 1st stroke |
Tight SL |
|---|---|---|---|
Gold Aug |
1,42,050 |
1,43,600 |
250 pts |
Silver Sep |
2,17,800 |
2,22,000 |
700 pts |
Jobbing works best in July range regime — book fast, avoid holding failed strokes.
5. SESSION CALLS
EUROPE SESSION (12:30–18:30 IST):
- Gold: Buy 1,42,000 zone → Target 1,43,400 (≈1,400 pts) → SL 1,41,550. R:R ~1:3.
- Silver: Buy 2,17,600 → Target 2,21,000 → SL 2,16,400. R:R ~1:2.8.
US SESSION (18:30–23:30 IST):
- Gold: Momentum play — long above 1,43,000 sustained → Target 1,44,000 (≈1,000 pts) → SL 1,42,400. Fade to short only on rejection at 1,44,000 with reversal candle.
- Silver: Long above 2,20,500 → Target 2,22,500 → SL 2,19,300. R:R ~1:1.7.
6. FUNDAMENTALS FOR THE DAY
- No first-tier scheduled US release stamped for today’s calendar; flow driven by dollar drift and positioning into weekend.
- Playbook if dollar softens further (hot): gold/silver extend toward upper band, favour Europe-session longs.
- Playbook if dollar bounces (soft for metals): expect fade back to lower band, trim longs, watch alternative short triggers.
Forward flag: US CPI (June) is stamped 14-Jul next week at 18:00 IST in the feed — treat as the key macro catalyst on the horizon; keep size light ahead of it. FOMC-minutes-type reads and jobless claims remain the running theme this window.
7. YESTERDAY — WHAT HAPPENED & WHY
Gold closed at weekly highs on a soft-dollar bounce — the dollar posted its weakest weekly close since April after June NFP missed badly (57K vs 110K), pushing September hike odds down from 67% to 50%. Gold added ~2% off the $3,942 low. Silver tracked higher in sympathy. Monday’s follow-through was rangebound near the 1,47,3xx handle — consistent with the July quiet-range, level-trading behaviour.
8. TREND
- Trend for the Day: Mildly constructive — buy dips inside band while COMEX holds $4,010.
- Trend for the Week: Range-bound with upside lean; resistance cluster $4,225–4,250, then 200-DMA $4,402 caps rallies.
9. ADVANCE FLAGS
- Weekend positioning risk — avoid carrying oversized leverage into the close.
- Next-week US CPI (14-Jul, 18:00 IST) is the primary forward event — expect volatility expansion into that print.
- Central-bank demand supportive (WGC +41t May) — structural floor under dips.
Trading in commodities carries high risk. All content is market research and education – you trade your own account and are responsible for your own decisions. Past performance is not indicative of future results.
Session Log (live updates)
09:00 IST — BREAKING: supply deficit (silver): Bullish bias +2 (Gold 142,208 / Silver 218,745)
Impact chain: supply deficit, industrial demand, price momentum near $60 → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
Impact chain: Fed rate hike fears, oil-driven inflation, price correction → Gold DOWN bias → Silver sympathetic → USD likely bid → MCX follows lower (rupee adjusts) → Plan: sell rallies to resistance, honour SL
09:10 IST — BREAKING: supply deficit (silver): Bullish bias +2 (Gold 142,271 / Silver 218,318)
Impact chain: supply deficit, industrial demand, price momentum near $60 → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
Impact chain: Fed rate hike fears, oil-driven inflation, USD strength → Gold DOWN bias → Silver sympathetic → USD likely bid → MCX follows lower (rupee adjusts) → Plan: sell rallies to resistance, honour SL
09:40 IST — BREAKING: supply deficit (silver): Bullish bias +2 (Gold 141,903 / Silver 217,434)
Impact chain: supply deficit, industrial demand, price momentum near $60 → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
Impact chain: Fed rate hike fears, oil-driven inflation pressure, USD strength → Gold DOWN bias → Silver sympathetic → USD likely bid → MCX follows lower (rupee adjusts) → Plan: sell rallies to resistance, honour SL
10:10 IST — BREAKING: supply deficit (silver): Bullish bias +2 (Gold 141,860 / Silver 217,825)
Impact chain: supply deficit, industrial demand, price consolidation near $60 → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
Impact chain: Fed rate hike fears, oil-driven inflation, USD strength → Gold DOWN bias → Silver sympathetic → USD likely bid → MCX follows lower (rupee adjusts) → Plan: sell rallies to resistance, honour SL
10:20 IST — BREAKING: Fed rate hike fears (gold): Bearish bias -2 (Gold 141,795 / Silver 217,866)
Impact chain: Fed rate hike fears, oil-driven inflation, USD strength → Gold DOWN bias → Silver sympathetic → USD likely bid → MCX follows lower (rupee adjusts) → Plan: sell rallies to resistance, honour SL
10:40 IST — BREAKING: supply deficit (silver): Bullish bias +2 (Gold 141,929 / Silver 218,605)
Impact chain: supply deficit, industrial demand, price consolidation near $60 → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
11:10 IST — BREAKING: supply deficit (silver): Bullish bias +2 (Gold 141,994 / Silver 218,472)
Impact chain: supply deficit, industrial demand, price resistance near $60 → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
12:30 IST — Asia wrap / Europe open re-anchor: Asia session boundary — prices re-anchored, call board refreshed (Gold 142,401 / Silver 219,958)
12:50 IST — BREAKING: supply deficit (silver): Bullish bias +2 (Gold 142,732 / Silver 221,565)
Impact chain: supply deficit, industrial demand, price stability near $60 → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
13:10 IST — BREAKING: supply deficit (silver): Bullish bias +2 (Gold 142,741 / Silver 221,380)
Impact chain: supply deficit, industrial demand, price consolidation near $60 → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
13:40 IST — BREAKING: supply deficit (silver): Bullish bias +2 (Gold 142,647 / Silver 220,831)
Impact chain: supply deficit, industrial demand, price recovery → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
14:10 IST — BREAKING: supply deficit (silver): Bullish bias +2 (Gold 142,914 / Silver 221,699)
Impact chain: supply deficit, industrial demand, price resistance near $60 → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
14:40 IST — BREAKING: supply deficit (silver): Bullish bias +2 (Gold 143,085 / Silver 222,014)
Impact chain: supply deficit, industrial demand, price near $60 resistance → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
Impact chain: Fed rate hike pressure, USD strength, price correction → Gold DOWN bias → Silver sympathetic → USD likely bid → MCX follows lower (rupee adjusts) → Plan: sell rallies to resistance, honour SL
15:10 IST — BREAKING: supply deficit (silver): Bullish bias +2 (Gold 143,073 / Silver 221,720)
Impact chain: supply deficit, industrial demand, price consolidation near $60 → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
Impact chain: Fed rate hike pressure, price correction/weakness, cautious rebound skepticism → Gold DOWN bias → Silver sympathetic → USD likely bid → MCX follows lower (rupee adjusts) → Plan: sell rallies to resistance, honour SL
15:40 IST — BREAKING: supply deficit (silver): Bullish bias +2 (Gold 143,360 / Silver 222,345)
Impact chain: supply deficit, industrial demand, price consolidation near $60 → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
Impact chain: Fed rate hike pressure, price correction, weak rally outlook → Gold DOWN bias → Silver sympathetic → USD likely bid → MCX follows lower (rupee adjusts) → Plan: sell rallies to resistance, honour SL
16:10 IST — BREAKING: supply deficit (silver): Bullish bias +2 (Gold 143,269 / Silver 222,235)
Impact chain: supply deficit, industrial demand, price momentum near $60 → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
Impact chain: Fed rate hike fears, USD strength, weak rally conviction → Gold DOWN bias → Silver sympathetic → USD likely bid → MCX follows lower (rupee adjusts) → Plan: sell rallies to resistance, honour SL
16:40 IST — BREAKING: supply deficit (silver): Bullish bias +2 (Gold 143,360 / Silver 222,540)
Impact chain: supply deficit, industrial demand, price near $60 resistance → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
17:10 IST — BREAKING: supply deficit (silver): Bullish bias +2 (Gold 143,144 / Silver 222,274)
Impact chain: supply deficit, industrial demand, price consolidation near $60 → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
17:40 IST — BREAKING: supply deficit (silver): Bullish bias +2 (Gold 143,041 / Silver 222,159)
Impact chain: supply deficit, industrial demand, price near $60 → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
Impact chain: Fed rate hike pressure, USD strength, weak rally conviction → Gold DOWN bias → Silver sympathetic → USD likely bid → MCX follows lower (rupee adjusts) → Plan: sell rallies to resistance, honour SL
18:10 IST — BREAKING: Fed rate hike pressure (gold): Bearish bias -2 (Gold 143,100 / Silver 222,145)
Impact chain: Fed rate hike pressure, USD strength, gold price weakness → Gold DOWN bias → Silver sympathetic → USD likely bid → MCX follows lower (rupee adjusts) → Plan: sell rallies to resistance, honour SL
18:35 IST — Europe wrap / US open + event window: Europe session boundary — prices re-anchored, call board refreshed (Gold 142,902 / Silver 221,432)
19:40 IST — BREAKING: industrial demand (silver): Bullish bias +2 (Gold 143,200 / Silver 221,479)
Impact chain: industrial demand, supply deficit, geopolitical risk premium → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
20:40 IST — BREAKING: industrial demand (silver): Bullish bias +2 (Gold 143,042 / Silver 221,447)
Impact chain: industrial demand, supply deficit, price momentum → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
21:00 IST — US session update: US session boundary — prices re-anchored, call board refreshed (Gold 143,397 / Silver 222,582)
21:10 IST — BREAKING: industrial demand (silver): Bullish bias +2 (Gold 143,316 / Silver 222,791)
Impact chain: industrial demand, supply deficit, rate sensitivity → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
22:40 IST — BREAKING: Fed rate hike fears (gold): Bearish bias -2 (Gold 143,060 / Silver 221,822)
Impact chain: Fed rate hike fears, oil-driven inflation, dollar strength → Gold DOWN bias → Silver sympathetic → USD likely bid → MCX follows lower (rupee adjusts) → Plan: sell rallies to resistance, honour SL
23:10 IST — BREAKING: Fed rate hike fears (gold): Bearish bias -2 (Gold 143,200 / Silver 222,224)
Impact chain: Fed rate hike fears, oil-driven inflation pressure, price correction → Gold DOWN bias → Silver sympathetic → USD likely bid → MCX follows lower (rupee adjusts) → Plan: sell rallies to resistance, honour SL
23:25 IST — Day close & scorecard: Close session boundary — prices re-anchored, call board refreshed (Gold 143,080 / Silver 222,014)
23:40 IST — BREAKING: supply deficit (silver): Bullish bias +2 (Gold 143,066 / Silver 222,301)
Impact chain: supply deficit, industrial demand, investor sentiment → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
Impact chain: Fed rate hike fears, Middle East inflation pressure, gold price correction → Gold DOWN bias → Silver sympathetic → USD likely bid → MCX follows lower (rupee adjusts) → Plan: sell rallies to resistance, honour SL
