ECONOMIC EVENTS TODAY (IST)
3:00 PM – USD Challenger Job Cuts (YoY)
6:00 PM – USD Initial Jobless Claims
6:00 PM – USD Preliminary Non-Farm Productivity (QoQ)
6:00 PM – USD Unit Labor Cost (QoQ)
8:00 PM – USD Natural Gas Storage
Market Impact: Today’s U.S. labour-market releases are expected to be the primary volatility drivers for Gold and Silver. A weaker labour report could support precious metals, while stronger-than-expected data may strengthen the U.S. Dollar and pressure bullion prices.
MCX GOLD
Expected Range: ₹147,057 – ₹149,834
Primary View (Sell on Rise)
Sell Gold near ₹149,800
Targets: ₹147,100 · ₹145,207
Stop Loss: ₹150,500 (only if sustained above)
Alternative View
Buy only above ₹150,600
Targets: ₹152,500 · ₹154,000
Stop Loss: ₹149,700
Trading Zones — Strong Buy Levels
₹147,057 – Buy on first touch
₹145,207 – Buy on first touch (SL: 250 points)
₹143,356 – Buy on first touch (SL: 250 points)
MCX SILVER
Expected Range: ₹218,316 – ₹229,000
Primary View (Sell on Rise)
Sell Silver near ₹228,400
Targets: ₹224,360 · ₹221,340
Stop Loss: ₹229,900
Alternative View
Buy near ₹218,360
Target: ₹222,000
Stop Loss: ₹217,000
Trading Zones
₹224,000 – Buy on first touch (Jobbing only)
₹221,340 – Buy for intraday/session trade
LATEST MARKET UPDATE
• Gold remains sensitive to upcoming U.S. employment data as traders reassess expectations for Federal Reserve policy.
• Recent weakness in oil prices has offered support to bullion by easing inflation concerns; labour-market data remains the key catalyst for today’s session.
• Silver continues to track gold but may witness relatively higher intraday volatility due to its industrial demand component.
• COMEX positioning: open interest across COMEX gold and silver sits near multi-year lows, with front-month (Sep) silver OI around ~80,000 contracts — thin paper markets amplify moves in BOTH directions around data.
• COMEX physical: silver’s registered coverage ratio remains in the sub-15% “stress” zone analysts track — physical tightness under a thin paper market argues for respecting stops, not chasing.
TRADING ADVICE
• Avoid aggressive positions ahead of major U.S. data releases.
• Wait for confirmation before chasing post-news volatility.
• Maintain disciplined stop-losses and position sizing, as sharp price swings are likely around the scheduled economic events.
Disclaimer: This report is for educational and informational purposes only and should not be considered investment advice. Please consult your financial advisor before making trading decisions.
