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Daily Bullion Report — 6 July 2026 | Level-Trading Month: Sell Gold Rallies, Silver Weekly Bias Down

📊 Daily Bullion Report — Monday, 6 July 2026

MCX Open · Level-Trading Month · Research & Education

COMEX Gold
$4,166 · +2% wk, highest since Jun 23
COMEX Silver
$61.93
MCX Gold Aug
₹1,47,274
MCX Silver Sep
₹2,36,595
USDINR
₹95.24 · dollar weakest weekly since April

📅 Fundamentals for the Day

  • 7:15 PM — US Final Services PMI (June)
  • 7:30 PM — ISM Services PMI — watch Employment sub-index; below 45 = services contraction, dollar-negative, gold-supportive
  • Wednesday night — FOMC Meeting Minutes — the week’s main event; market hunts how hawkish Warsh’s Fed really is
  • Post-holiday week — liquidity rebuilds gradually, thin follow-through risk

🧠 Market Commentary

  • June NFP missed hard: 57K vs 110K — weakest in 4 months. Sept hike odds 67%→50%. Dollar’s biggest weekly drop since April.
  • That’s why gold bounced 2% off the $3,942 low — a recovery within a corrective range, not a fresh bull leg.
  • June was one-sided institutional selling — largely done. July = quieter, range-bound, but with volume. A level-trading month.
  • OI shows no clean directional conviction (Gold ~10,630, Silver ~11,474). No trend signal → we trade levels, not direction.
  • World Gold Council: central banks bought net 41 tonnes in May — structural bid under every dip.
  • Caveat: resistance stacked $4,225–$4,250 (trendline) then 200-DMA $4,402. Gold is bumping the underside — that’s where sellers re-engage, not below it.

🥇 GOLD (August) — Range 1,48,600 – 1,44,260

SELL into strength: Sell 1,48,000, add 1,48,600 (= COMEX $4,191 → $4,225 resistance)
Targets: 1,45,780 → 1,44,260 · SL: above 1,48,850 if sustained
Alternative — BUY breakout: Only above 1,48,900 sustained → target 1,50,580, SL 1,48,200
⚡ Trading Zone (jobbing): 1,45,780 buy 1st stroke, SL 1,45,500

COMEX map: $3,942 low → recovered ~30% to $4,191. Sell rallies; upside only sustains above $4,230+. Bias: sideways-to-down.

🥈 SILVER (September) — Range 2,40,000 – 2,21,000

New MCX Silver contract is thin — we lean on COMEX Spot Silver to guide MCX trades.

COMEX map: Strong support $55 (low $55.62). Resistance $63.58 = 50% of $71.55→$55.62 range. Weekly sellers activate near $63.50, backup $65, target $55.50.

SELL: Sell 2,38,500, backup 2,40,800 · Targets: 2,32,000 → 2,26,000 · SL above 2,41,500 if sustained
⚡ Jobbing: 2,31,500 buy 1st stroke, SL 1,000 pts

📌 Weekly view: Sell from 2,40,000 → target 2,21,000 — a good weekly position call.

🎯 The Day in One Line: Range-bound month, level-trading mode. Gold: sell rallies into 1,48,000+, buy the 1,45,780 stroke. Silver: sell strength toward 2,38,500+, weekly bias down toward 2,21,000. No OI direction = respect levels, not a trend.

📲 All changes via WhatsApp Broadcast only. Questions → send “live update” to 7046379799

Market research & education. Trading in commodities carries high risk; you trade your own account and are responsible for your own decisions. Past performance is not indicative of future results.

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