Reason: BREAKING: industrial demand (silver) | Impact: Bullish bias +2
MCX Gold Aug: 142,900 | MCX Silver Sep: 223,746 | Desk calls today: 4/5 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 |
ACTIVE |
MCX GOLD Aug |
BUY GOLD |
143,250 |
144,050 |
142,800 |
SL_HIT |
MCX GOLD Aug |
SELL GOLD |
144,050 |
143,000 |
144,500 |
PENDING |
MCX SILVER Sep |
SELL SILVER |
224,600 |
218,000 |
229,000 |
PENDING |
MCX SILVER Sep |
BUY SILVER |
214,000 |
223,000 |
212,000 |
T1_HIT |
DAILY BULLION REPORT — Tuesday, 21 July 2026
Full trading day: 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 |
$4,045 (5d H $4,091 / L $3,964) |
~Rs31/10g per $/oz |
1,40,400 |
1,42,500 |
MCX Silver Sep |
$58.0 (5d H $59.6 / L $55.0) |
oz-linked |
2,15,000 |
2,21,800 |
Spot reference: Gold 1,41,398 | Silver 2,18,150 | USDINR 96.43. High/Low expected to stay inside these bands under the quiet-July regime.
2. OUR PREFERENCE — Primary Full-Day Call
GOLD (Aug) — Range-lean, buy dips into support. Gold sits mid-range after a soft-dollar bounce; no clean trend, so favour buying weakness.
- Direction: Buy on dip
- Entry zone: 1,40,700 – 1,40,900
- Add-on: 1,40,450 (only if it holds on close)
- SL (only-if-sustained): 1,40,200
- Target 1: 1,41,600 Target 2: 1,42,300
- R:R: risk ~600, reward ~1,400 → 1:2.3
SILVER (Sep) — Buy dips, silver holding firmer than gold on the metals bid.
- Direction: Buy on dip
- Entry zone: 2,16,300 – 2,16,700
- Add-on: 2,15,400 (if sustained)
- SL (only-if-sustained): 2,14,600
- Target 1: 2,18,800 Target 2: 2,20,800
- R:R: risk ~1,900, reward ~4,300 → 1:2.2
3. ALTERNATIVE SCENARIO — Opposite-Side Plan
- Gold: If 1,40,200 breaks and sustains (dollar snap-back), flip short → trigger 1,40,150, target 1,39,300, SL 1,40,650.
- Silver: If 2,14,600 gives way on close, sell → trigger 2,14,400, target 2,11,800, SL 2,15,800.
4. TRADING ZONE — Jobbing Levels (tight SL, quick strokes)
Metal |
Sell 1st-stroke (above spot) |
Buy 1st-stroke (below spot) |
Tight SL |
|---|---|---|---|
Gold |
1,42,200 – 1,42,350 |
1,40,700 – 1,40,850 |
250 pts |
Silver |
2,20,900 – 2,21,300 |
2,16,200 – 2,16,600 |
800 pts |
5. SESSION CALLS
EUROPE SESSION (12:30 – 18:30 IST)
- Gold: Buy 1,40,800 zone, hold 4-6 hrs, target 1,41,900 (~1,100 pts), SL 1,40,300. R:R ~1:2.2.
- Silver: Buy 2,16,500, target 2,19,900 (~3,400 pts), SL 2,15,300. R:R ~1:2.8.
US SESSION (18:30 – 23:30 IST) — thin macro calendar today; expect level respecting.
- Gold: Sell into strength 1,42,200, target 1,40,900 (~1,300 pts), SL 1,42,700. R:R ~1:2.6.
- Silver: Buy dip 2,16,800, target 2,20,500 (~3,700 pts), SL 2,15,600. R:R ~1:3.
6. FUNDAMENTALS FOR THE DAY
No first-tier US data scheduled for Tuesday 21-Jul. Session driven by dollar drift and positioning. Listed week events already passed; forward flag below.
- Dollar tone: If DXY stays soft (post-NFP miss theme), metals hold the buy-dip bias. If dollar bounces intraday, favour the alternative short and jobbing sells.
- Rate expectations: Sept hike odds slipped 67→50% after weak jobs — a supportive undertone for gold. Any hawkish Fed-speak = soft reaction, fade rallies.
7. YESTERDAY — WHAT HAPPENED & WHY
Friday closed at weekly highs as the dollar logged its weakest week since April on the June NFP miss (57K vs 110K). Monday was rangebound near 1,47,3xx-equivalent action — a typical quiet-July consolidation with buyers defending dips but no breakout conviction. Silver tracked firmer than gold, holding the mid-range.
8. TREND
- Trend for the day: Range-bound with a mild buy-on-dip lean; sellers only on failed pushes to band highs.
- Trend for the week: Constructive-to-sideways; soft dollar caps downside, resistance cluster $4,225-4,250 caps upside.
9. FLAGGED IN ADVANCE
- Next week — US CPI June (14-Jul window in calendar, forward-flag): the key upcoming volatility trigger. Trim size and widen SL ahead of the print.
- Watch the $4,225-4,250 COMEX resistance then 200-DMA $4,402 — breakout above changes the regime from range to trend.
- WGC reported central banks +41t in May — structural bid remains under any deep dip.
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 141,398 / Silver 220,976)
Impact chain: supply deficit, industrial demand (solar/EVs/AI), price recovery from lows → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
Impact chain: supply deficit, industrial demand (solar/EVs/AI), price recovery from lows → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
09:10 IST — BREAKING: Fed rate pressure (gold): Bearish bias -2 (Gold 142,279 / Silver 220,858)
Impact chain: Fed rate pressure, USD strength, price weakness near $4 → 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 142,305 / Silver 220,900)
Impact chain: supply deficit, industrial/AI demand, geopolitical risk premium → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
11:30 IST — BREAKING: supply deficit (silver): Bullish bias +2 (Gold 142,741 / Silver 221,555)
Impact chain: supply deficit, industrial/AI demand, price recovery from lows → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
11:40 IST — BREAKING: industrial demand recovery (silver): Bullish bias +2 (Gold 142,874 / Silver 222,050)
Impact chain: industrial demand recovery, supply deficit, price rebound from lows → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
12:10 IST — BREAKING: supply deficit (silver): Bullish bias +2 (Gold 142,886 / Silver 222,514)
Impact chain: supply deficit, industrial/AI demand, price recovery from lows → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
12:20 IST — Call status update: Desk call level touched — see board (Gold 143,025 / Silver 223,230)
12:30 IST — Asia wrap / Europe open re-anchor: Asia session boundary — prices re-anchored, call board refreshed (Gold 142,975 / Silver 223,218)
12:40 IST — BREAKING: price recovery (silver): Bullish bias +2 (Gold 142,953 / Silver 223,121)
Impact chain: price recovery, supply deficit, industrial/AI demand → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
13:10 IST — BREAKING: industrial demand (silver): Bullish bias +2 (Gold 142,900 / Silver 223,471)
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
13:40 IST — BREAKING: supply deficit (silver): Bullish bias +2 (Gold 142,706 / Silver 223,195)
Impact chain: supply deficit, industrial/AI 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: industrial demand (silver): Bullish bias +2 (Gold 142,634 / Silver 223,165)
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
14:40 IST — BREAKING: industrial demand (silver): Bullish bias +2 (Gold 142,772 / Silver 223,570)
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
15:10 IST — BREAKING: industrial demand (silver): Bullish bias +2 (Gold 142,795 / Silver 223,605)
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
15:40 IST — BREAKING: industrial demand (silver): Bullish bias +2 (Gold 142,700 / Silver 223,300)
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
16:10 IST — BREAKING: supply deficit (silver): Bullish bias +2 (Gold 142,901 / Silver 223,536)
Impact chain: supply deficit, industrial/AI demand, technical recovery → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
16:40 IST — BREAKING: industrial demand (silver): Bullish bias +2 (Gold 142,550 / Silver 222,572)
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
17:10 IST — BREAKING: industrial demand (silver): Bullish bias +2 (Gold 142,664 / Silver 223,050)
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
17:40 IST — BREAKING: industrial demand (silver): Bullish bias +2 (Gold 142,730 / Silver 223,332)
Impact chain: industrial demand, supply deficit, geopolitical safe-haven → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
18:10 IST — BREAKING: price recovery (silver): Bullish bias +2 (Gold 142,586 / Silver 223,512)
Impact chain: price recovery, supply deficit, industrial/AI demand → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
Impact chain: geopolitical risk premium, debasement trade, Fed/rate uncertainty → Gold UP bias → Silver sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
18:35 IST — Europe wrap / US open + event window: Europe session boundary — prices re-anchored, call board refreshed (Gold 142,635 / Silver 223,462)
18:40 IST — BREAKING: price recovery (silver): Bullish bias +2 (Gold 142,629 / Silver 223,300)
Impact chain: price recovery, supply deficit, industrial/AI demand → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
19:10 IST — BREAKING: price recovery (silver): Bullish bias +2 (Gold 142,500 / Silver 222,578)
Impact chain: price recovery, industrial/AI demand, supply deficit → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
19:40 IST — BREAKING: supply deficit (silver): Bullish bias +2 (Gold 142,600 / Silver 222,948)
Impact chain: supply deficit, industrial demand, technical recovery → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
20:10 IST — BREAKING: supply deficit (silver): Bullish bias +2 (Gold 142,750 / Silver 223,350)
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
20:40 IST — BREAKING: supply deficit (silver): Bullish bias +2 (Gold 142,873 / Silver 223,770)
Impact chain: supply deficit, industrial/AI demand, price recovery → 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 142,978 / Silver 223,986)
21:10 IST — BREAKING: supply deficit (silver): Bullish bias +2 (Gold 143,029 / Silver 224,314)
Impact chain: supply deficit, industrial demand, technical rebound → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
21:40 IST — BREAKING: supply deficit (silver): Bullish bias +2 (Gold 143,001 / Silver 224,170)
Impact chain: supply deficit, industrial/AI demand, price recovery → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
22:10 IST — BREAKING: price targets/upside (silver): Bullish bias +2 (Gold 142,940 / Silver 223,950)
Impact chain: price targets/upside, supply deficit, industrial demand → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
22:40 IST — BREAKING: industrial demand (silver): Bullish bias +2 (Gold 142,900 / Silver 223,756)
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
23:10 IST — BREAKING: industrial demand (silver): Bullish bias +2 (Gold 142,892 / Silver 223,893)
Impact chain: industrial demand, supply deficit, price targets → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
23:25 IST — Day close & scorecard: Close session boundary — prices re-anchored, call board refreshed (Gold 142,858 / Silver 223,745)
23:40 IST — BREAKING: industrial demand (silver): Bullish bias +2 (Gold 142,900 / Silver 223,746)
Impact chain: industrial demand, supply deficit, price targets → Silver UP bias → Gold sympathetic → USD pressure → MCX follows higher (rupee adjusts) → Plan: buy dips to support, honour SL
