Daily Bullion Report — 10 July 2026 | MCX Gold & Silver Full-Day Levels

DAILY BULLION REPORT — Friday, 10 July 2026

Full trading day coverage: 9:00 AM – 11:30 PM IST. Anchored to COMEX close $4140.9 (gold) / $61.1 (silver), USDINR 95.37.

1. RANGE — Expected Full-Day Band

Bridge: 1 USD/oz ≈ Rs30.7/10g. COMEX $4140.9 maps to MCX ~1,45,350 with prevailing import premium (~6%). High/Low expected to hold inside this band; July remains a level-trading, range regime month.

2. OUR PREFERENCE — Primary Full-Day Call

GOLD (MCX Aug) — Buy-on-dips bias (soft dollar continuation)

• Direction: Long preferred while above 1,44,300
• Entry zone: 1,44,700 – 1,44,400 (buy dip)
• Add-on: 1,44,150 on sustained hold
• SL (only if sustained below): 1,43,700
• Target 1: 1,45,900   Target 2: 1,46,500
• R:R: Risk ~700, reward ~1,800 → approx 1:2.5

SILVER (MCX Sep) — Buy-on-dips bias, high-beta

• Direction: Long preferred while above 2,22,500
• Entry zone: 2,24,500 – 2,23,500
• Add-on: 2,22,800 on sustained hold
• SL (only if sustained below): 2,21,500
• Target 1: 2,27,800   Target 2: 2,30,000
• R:R: Risk ~2,000, reward ~5,500 → approx 1:2.7

3. ALTERNATIVE SCENARIO — Opposite-Side Plan

• Gold: If dollar bounces and gold sustains below 1,44,300, flip short → target 1,43,400 then 1,42,800; SL 1,44,900.
• Silver: Sustained break below 2,22,300 opens short → target 2,19,500 then 2,17,500; SL 2,23,800.

4. TRADING ZONE — Jobbing Levels (tight SL)

Quick in-out trades only; do not carry jobbing positions through high-impact events.

5. SESSION CALLS

EUROPE SESSION (12:30 – 18:30 IST)

• Gold: Buy 1,44,600 zone → target 1,45,700 (1,100 pts); SL 1,44,050. Holding 4-6 hrs, R:R ~1:2.
• Silver: Buy 2,24,000 → target 2,27,500 (3,500 pts); SL 2,22,700. R:R ~1:2.7.

US SESSION (18:30 – 23:30 IST) — Initial Jobless Claims 18:00 sets tone.

• Gold: On soft data momentum, buy 1,45,100 breakout → target 1,46,500 (1,400 pts); SL 1,44,400. R:R ~1:2.
• Silver: Buy 2,25,500 breakout → target 2,29,800 (4,300 pts); SL 2,23,700. R:R ~1:2.4.

Gold session targets scaled 1,000–2,000 pts as specified; US session carries the higher-conviction directional move given labour data.

6. FUNDAMENTALS FOR THE DAY

• Initial Jobless Claims — 18:00 IST
  • Hot (higher claims / weak labour): reinforces soft-dollar, supports gold/silver upside — favour longs into US session.
  • Soft (lower claims / firm labour): dollar bounce, gold slips toward 1,44,300 — trim longs, watch alt-short trigger.
• Residual flow from FOMC Minutes (08-Jul, 23:30): Sept hike odds already eased 67→50%; dovish read still cushioning dips.

FORWARD FLAG: US CPI June — Monday/Tuesday 14 July, 18:00 IST. Position-sizing should stay light late-week ahead of it; this is the week’s primary directional catalyst.

7. YESTERDAY — WHAT HAPPENED & WHY

Gold closed at weekly highs on a soft-dollar bounce after June NFP missed badly (57K vs 110K expected), pushing Sept hike odds down toward 50%. The dollar logged its weakest week since April, lifting gold roughly 2% off the $3,942 low. Silver rode the same tape with higher beta. Intraday action stayed rangebound near 1,47,3xx MCX earlier in the week — consistent with July’s typical quiet, level-trading behaviour.

8. TREND

• Trend for the Day: Mildly bullish / buy-on-dips inside range while dollar stays soft.
• Trend for the Week: Constructive but capped — range regime under resistance cluster $4,225–4,250, all eyes on 14-Jul CPI.

9. ADVANCE FLAGS

• Initial Jobless Claims 18:00 IST — main intraday mover today.
• US CPI June, 14 July 18:00 IST — biggest near-term catalyst; keep exposure controlled into the weekend.
• Resistance to respect: $4,225–4,250 then 200-DMA $4,402; support pivot $3,942 zone.

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